- (1.) Admittedly, the petitioner a Public Limited Company is engaged in the business of manufacture of photocopying machines, which are being sold in retail.
(2.) Rule 6(a) of the Central Excise (Valuation) Rules, 1975 (briefly, the 'Rules') runs as under : "Rule 6. If the value of the excisable goods under assessment cannot be determined under Rule 4 or Rule 5, and (a) where such goods are sold by the assessee in retail the value shall be based on the retail price of such goods reduced by such amount as is necessary and reasonable in the opinion of the proper officer to arrive at the price at which the assessee would have sold such goods in the course of wholesale made to a person other than a related person : Provided that in determining the amount of reduction, due regard shall be had to the nature of the excisable goods the trade practice in that commodity and other relevant factors"
(3.) Section 4(1)(a) of the Central Excises and Salt Act, 1944 (the Act for short) runs as follows : "4. Valuation of excisable goods for purposes of charging of duty of excise. (1) Where under this Act, the duty of excise is chargeable on any excisable goods with reference to value such value, shall, subject to the other provisions of this action, be deemed to be ( a) the normal price thereof, that is to say, the price at which such goods are ordinarily sold by the assessee to a buyer in the course of wholesale trade for delivery at the time and place of removal, where the buyer is not related person and the price is the sole consideration for the sale:";