1998 (5) TMI 317 - AT - Central Excise

Summary

The Appellate Tribunal CEGAT, Mumbai heard an appeal regarding the includability of interest notionally considered to have accrued on advances taken by the appellant in the assessable value of machine tools. The Tribunal decided to take up the appeal for disposal based on relevant Supreme Court decisions and Tribunal precedents. The Tribunal found that the interest on advances did not form part of the price and allowed the appeal, setting aside the order. The decision was in line with previous rulings like VST Industries Ltd. v. Collector of Central Excise and Metal Box India Ltd. v. Collector of Central Excise.