9911796707
TMI Blog1998 (5) TMI 63X X X X Extracts X X X X X X X X Extracts X X X X ..... er : Justice U.L. Bhat, President]. Shri N.K. Gaur, Commercial Manager of the appellant is present and seeks an adjournment on the ground that counsel is busy in a Civil Court in Meerut. We do not find this a valid ground for adjournment and accordingly we decline the request for adjournment. We have heard Shri M. Ali, JDR, and perused the papers. 2. Respondent, engaged in the manufacture ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rder having been set aside by the Collector (Appeals), the Collector of Central Excise has preferred the present appeal. 3. The only ground urged by the appellant is that but for the receipt of security amounts respondent would have borrowed money from Commercial Banks and paid interest at 18% per annum. Therefore, notional interest at this rate should be treated as having been gained by the app ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is paid at 8% per annum to them. The department has not alleged that the receipt of the security deposit amount from the wholesalers had any effect on the price or had depressed the price to any extent. In the absence of such allegation or proof the question of adding to the assessable value notional interest on account of security deposit will not arise. 4. We find no merit in the appeal and ac ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
