1999 (7) TMI 624 - AT - Central Excise

Summary

The Appellate Tribunal CEGAT, New Delhi ruled in favor of the appellant, M/s. LML Ltd., stating that notional interest on deposits should not be included in the assessable value of goods manufactured and cleared. The decision was based on the lack of evidence showing a nexus between the interest earned and the activities of the assessee, following the precedent set by the Apex Court in the case of VST Industries. The appeal was allowed with consequential relief.