4. Valuation of excisable goods for purposes of charging of duty of excise . — (1) Where under this Act, the… — THE CENTRAL EXCISE ACT, 1944

[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 their value, then, on each removal of the goods, such value shall—

2 [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 their value, then, on each removal of the goods, such value shall— (a) in a case where the goods are sold by the assessee, for delivery at the time and place of the removal, the assessee and the buyer of the goods are not related and the price is the sole consideration for the sale, be the transaction value; (b) in any other case, including the case where the goods are not sold, be the value determined in such manner as may be prescribed.

Section 2