SHROFF & CO., ETC. vs MUNICIPAL CORPORATION OF GREATER BOMBAY ANDANOTHER, ETC.

The Supreme Court held that countervailing duty is includible in the assessable value for octroi imposition under the Bombay Municipal Corporation Act, 1888. The Court clarified that countervailing duty, aimed at equalizing the tax burden on domestic producers and importers, is triggered upon the import of goods into the State. It emphasized that the taxable event occurs at the point of import, and the deferred payment facility does not alter the duty's chargeability. The appeal was dismissed, affirming the inclusion of countervailing duty in octroi calculations.