M/S Modipon Fibre Company,Modinagar, ... vs Commissioner Of Central Excise,Meerut

The Supreme Court addressed the appeals under Section 35L of the Central Excise Act, 1944, concerning the deduction of turnover tax (TOT) by the assessee. The Court held that the assessee was entitled to a deduction of only 0.5% for TOT, as per the Gujarat Government's Notification dated 19.10.1993, which specified different rates for backward and normal areas. The Court affirmed the Tribunal's decision, emphasizing the necessity for accurate declaration of assessable value based on applicable TOT rates, thereby upholding the demand for the difference in duty.