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M/s Kisan Irrigation Ltd. Versus Commissioner of Central Excise, Indore

2016 (1) TMI 696 - CESTAT NEW DELHI

Deduction of discounts from all the clearances - determination of assessable value under Section 4 of the Central Excise Act, 1944 - appellant is deducting cash discounts from the transaction value on the clearances made from their factory to all the .....

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e entitled for claiming deduction of cash discount from the transaction value on the clearances made from the factory to all the customers. - Decided in favour of assessee - Excise Appeals Nos. 51758, 51759 & 51760/2014 - Dated:- 20-11-2015 - Ashok J .....

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is that in a case where the appellant is deducting cash discounts from the transaction value on the clearances made from their factory to all the customers irrespective of the fact that the customers are not paying the amount in time and the cash di .....

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id issue came up before the Apex Court in the case of Purolator India Ltd. - 2015-TIOL-193-SC-CX, wherein the Hon'ble Apex Court has observed as under:- "18. It can be seen that Section 4 as amended introduces the concept of "transactio .....

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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 remo .....

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t's factory or depot as the case may be. The expression 'actually paid or payable for the goods, when sold" only means that whatever is agreed to as the price for the goods forms the basis of value, whether such price has been paid, has .....

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meant to indicate that goods are the subject matter of an agreement of sale. Once this becomes clear, what the learned counsel for the assessee has argued must necessarily be accepted inasmuch as cash discount is something which is "known" .....

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