1998 (2) TMI 330 - AT - Central Excise

Summary

The Appellate Tribunal CEGAT, New Delhi found that the appellant's receipt of advances influenced the price of equipment. The Assistant Collector's approach was deemed incorrect as nexus between the advance amounts and the price needed to be established. The Collector (Appeals) considered this aspect and concluded that the receipt of advance amounts did influence the price. The percentage of notional interest was reduced to 15% from 18.5%. The case was remanded for a fresh order after granting the appellant an opportunity of hearing.