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2018 (3) TMI 349 - AT - Central ExciseValuation - whether the price prevailing for sale at depot immediately prior to the clearance from the factory gate was to be adopted or the price prevailing at the depot at the point of time nearest to the time of clearance from the factory gate was to be adopted for the purpose of assessment? - Circular No. 643/34/2002-CX dt. 1.7.2002 - Held that: - the words used in a clarification are the nearest date when clearances of the goods were affected from the depot or other place should be taken into consideration - Similarly in the Circular dt. 30.6.2000, in the example for clearance of goods from factory on 5.7.2000 the price of sale at depot on 1.7.2000 was adopted. It is apparent that the CBEC wishes to adopt the price which is available at the time of clearance from the factory. The other interpretation sought by Revenue would perforce make all the clearances from the factory provisional and assessable price at the time of clearance from factory sale would always remain indeterminate - interpretation adopted by the appellant appears to be proper. Reliance placed in the case of EI. DU PONT INDIA PVT. LTD. Versus COMMISSIONER OF CENTRAL EXCISE, CHENNAI [2004 (10) TMI 481 - CESTAT, NEW DELHI], where it was held that Once the normal transaction value of the impugned goods sold from other place at or about the same time is ascertainable, there is no need to determine the assessable value on the basis of price at which the goods may be sold subsequent to the time of removal of goods. Appeal allowed - decided in favor of appellant.
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