ELECTRONICS CORP.OF INDIA LIMITED vs UNION OF INDIA .

The Supreme Court addressed the challenges faced by Bharat Petroleum Corporation Ltd. regarding the valuation of goods under Section 4(4)(b)(iii) of the Central Excise Act, 1944. The Court upheld the Tribunal's decision that the assessee's pricing mechanism, based on the Administered Pricing Mechanism (APM), was valid and did not contravene the provisions of the Act. Furthermore, the Court acknowledged the need to revisit previous orders related to the Committee on Disputes (CoD) and their implications on the current case, indicating a shift in judicial perspective on these matters.