Commissioner Of Central Excise, ... vs Ashok Arc

The Supreme Court held that Rule 173C(11) of the Central Excise Rules, 1944 allows an assessee to declare the price of goods based on challans and advice notes only when the value cannot be determined according to Section 4 of the Act. The Court found that the Tribunal erred in applying Rule 173C(11) without considering the proviso, which mandates that the assessable value must be the factory gate price when ascertainable. Consequently, the Court set aside the Tribunal's decision and upheld the assessing authority's determination of the factory gate price as the assessable value.