1997 (4) TMI 292 - AT - Central Excise

Summary

The Appellate Tribunal CEGAT, Mumbai ruled in favor of the appellants in an appeal against a Central Excise order demanding Rs. 75,23,185 as duty and imposing penalties. The Tribunal held that advances taken by the appellants should not influence the assessable value of goods sold, citing precedents like Flex Industries Ltd. v. C.C.E. The Tribunal favored the appellants based on the judgment of the Madras High Court in Lakshmi Machines Works Ltd., setting aside the impugned order and allowing the appeals.