Excise

Valuation

— Computation of assessable value under S. 4(4)(d), Central Excise Act, 1944 (as it stood prior to 2000 amendment) — Treatment of normal price as cum-duty price — Propriety — Following Maruti Udyog Ltd. case, (2002) 3 SCC 547, Appellate Authority treating the normal price as cum-duty price and accordingly reducing the price fixed by the adjudicating authority — CESTAT upholding that decision — Appeal by the Revenue against CESTAT's decision exclusively on the ground that the decision in Maruti Udyog Ltd. case, (2002) 3 SCC 547 was under reconsideration in a review petition and should not have been followed as CBEC circular dated 26-9-2003 had directed the authorities to keep the cases pending till the decision in the said review petition — On facts held, the said revision stood dismissed and consequently CBEC had, by its circular dated 27-12-2004, withdrawn the said circular — In such circumstances appeal dismissed — Contention that Maruti Udyog Ltd. case, (2002) 3 SCC 547 was not applicable to the facts of the present case, raised by the Revenue for the first time during the arguments and not raised before CESTAT or even in the present appeal — Hence, not examined, (2006) 6 SCC 75