( 1 ) THE short point in this appeal is whether the learned Single Judge was right in holding that the price charged by the Petitioner-Respondent Company to its sole distributors M/s. Voltas Ltd. represented the wholesale cash price within the meaning of Section 4 (a) of the Central Excises and Salt Act, 1944 (as the said provision stood before 1-10-1975) for determination of excise duty on the tractors manufactured by the Petitioner-Respondent Company. Before we deal with the question, we may briefly set out the facts.

( 2 ) THE International Tractor Company of India Ltd. with which the Petitioner Company subsequently had merged during the period from 4th October 1971 to 11th February 1972 and from 14th February 1972 to 12th October 1972 had sold diverse number of tractors of the said Company to M/s. Voltas Ltd. under a distributorship agreement dated 17th March 1970. The said distributor Company in turn had sold the said tractors to various parties. In the event the said sales during the two periods in question were on the basis of principal to principal without any extra commercial considerations as claimed by the Petitioner-Respondent which was upheld by t