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1997 (2) TMI 118 - SC - Central ExciseWhat is the wholesale price, on which the excise duty is payable, of the fabrics which are manufactured by the appellant-Company? Held that:- On the basis of the evidence on record and what was stated in the said order, we came to the conclusion that the proper assessable value would be the purchase price which was paid by M/s. Agarcon to the said 4 firms. The basis for coming to this conclusion was that these four firms were mere shadows and the transactions through them could not obviously be regarded as the genuine transactions. This being so and also considering the fact that the so called wholesale dealers neither had the finances of their own and nor did they have any storage capacity, the only obvious conclusion was that this was only a device which was adopted by the appellant with a view to depress the assessable value for the purpose of excise. This is further strengthened by the fact that M/s. Agarcon is only known as the agent of the appellant and the goods were manufactured according to the designs and specifications given by M/s. Agarcon. Therefore, the conclusion which was arrived at by the Tribunal was correct and calls for no interference. Appeal dismissed.
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