SUPREME COURT OF INDIA referred the following to a Largers Bench, while deciding the Civil Appeal No. 3159 of 2004 in re: CCEX INDORE vs GRASIM INDUSTRIES LTD : -

QUOTE: Since the issues arising in these appeals are of seminal importance and are likely to have serious ramifications on the question of determination of assessable value of the excisable goods for the purpose of levy of duty of excise, we are of the view that the following issues require consideration by a larger Bench:-
1. whether Section 4 of the Central Excise Act, 1944 (as substituted with effect fom 1/7/2000) and the definition of ‘TRANSACTION VALUE” in Clause (d) of sub-Section (3) of Section 4 are subject to Section 3 of the Act?
2. Whether Sections 3 and 4 of the Central Excise Act, despite being interlinked, operate in different fields and what is their real scope and ambit?
3. Whether the concept of ‘TRANSACTION VALUE” makes any material departure from the deemed normal price concept of the erstwhile Section 4(1)(a) of the Act?
UNQUOTE

[for full text of the judgement please visit http://www.taxesinindia.com and click on the citation taxind_2009_sc_ca_3159]

SUPREME COURT ORDERS

VENKATRAMAN RAGGHUPATHY, Web admin.

SUPREME COURT JUDGEMENTS CENTRAL EXCISE ACT, Section 3, Section 4, Transaction value