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2017 (4) TMI 637 - CESTAT NEW DELHIAssessable value - deduction towards cash discount on excise duty payable realized back through debit notes - Held that:- the issue is squarely covered by the assessee-Appellants own case for the previous period in Excise Appeal No.629/2008 dated 15.6.2016 where the Tribunal has also relied upon the ratio laid down by the Hon’ble Supreme Court in the case of Purolator India vs. C.C.E., Delhi III, [2015 (8) TMI 1014 - SUPREME COURT] wherein it was held that “transaction value” as defined in sub-clause (3)(d) of Section 4 has to be read along with the expression “for delivery at the time and place of removal”. It is clear, therefore, that what is paramount is that the value of the excisable goods even on the basis of “transaction value” has only to be at the time of removal, that is, the time of clearance of the goods from the appellant’s factory or depot as the case may be. There will be no need to add back the discounts to the assessable value, even if the same are subsequently recovered. Similar views were taken by the Tribunal in the assessee-Appellants’ own case in Excise Appeal No.400 of 2011 dated 20.12.2016 - Appeal allowed - decided in favor of the assessee.
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