Collector Of Central Excise, New Delhi vs Guru Nanak Refrigeration Corpn

The Supreme Court examined the validity of the Customs Excise & Gold (Control) Appellate Tribunal's decision to reverse the Assistant Collector's order regarding the valuation of excisable goods under Section 4 of the Central Excise Act, 1944. The Court held that when the normal price of goods is ascertainable, the provisions of clause (b) of Section 4(1) cannot be applied, and there was no evidence to suggest that the sale price was not at arm's length. Consequently, the Tribunal's order was upheld, affirming the validity of the wholesale price as the basis for duty assessment.