TMI Blog2016 (1) TMI 272X X X X Extracts X X X X X X X X Extracts X X X X ..... on'ble Apex Court in their judgment dated 25.8.2015 as reported at - set aside the order of the Tribunal in so far as it rejected the contention on the cash discount - impugned order is unsustainable and liable to be set aside Cash discounts for prompt payment of price of goods on delivery, are admissible in arriving at the assessable value if they are available to all buyers. - Decided in favour of assessee. - Appeal No. E/2699/05 - - - Dated:- 20-10-2015 - M V Ravindran, Member (J) And C J Mathew, Member (T) For the Appellant : Shri S S Gupta, CA For the Respondent : Shri H M Dixit, Assistant Commissioner (AR) ORDER Per M V Ravindran This appeal is directed against Order-in-Appeal No. CEX.XI/JMJ/97/APL/NSK/05 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... removal of excisable goods, the transaction value of such goods becomes determinable. Whereas previously, the value of such excisable goods was the price at which such goods were ordinarily sold in the course of wholesale trade, post amendment each transaction is looked at by itself. However, 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. The expression actually ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (i.e. without deduction of the cash discount) if the payment is not made in cash. In such cases, the cash discount, if allowed, will be admissible on the principle that only the net price obtained after deduction of the cash discount is the price of the goods. Illustrations. (iv) Assessee A sells the goods at ₹ 100 per unit but given a cash discount of 2% if payment is made at the time of delivery or within a specified period. Such cash discount will be admissible and the price will be ₹ 100 per unit minus 2%. 20. This understanding of the Board would necessarily continue in view of what is said above as regards cash discounts even after the amendment of Section 4 in the year 2000. 26. In view of what ..... X X X X Extracts X X X X X X X X Extracts X X X X
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