In Brief
This Supreme Court judgment addresses valuation of excisable goods in seven batches of central excise appeals involving plywood/block board manufacturers accused of undervaluation and duty evasion. The Court confirmed remand orders by the tribunal but clarified crucial legal principles: for periods before 01.07.2000, normal price must be determined under Section 4(1)(a) (ordinary wholesale sales), with Section 4(1)(b) Valuation Rules applying otherwise; after 01.07.2000, transaction value replaces normal price if three statutory conditions are met, otherwise Section 4(1)(b) Rules apply. Importantly, where evidence shows a dealer paid more than invoice value in specific transactions, that amount applies to all that dealer's transactions, but cannot be uniformly applied across all dealers. Adjudicating authorities must make explicit determinations under the correct statutory provision before assessing liability.
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