1998 (10) TMI 179

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..... President].- Appellant, engaged in the manufacture of machines falling under Chapter Headings 8460 and 8466 was receiving advances from some of the customers. Appellant was filing price lists based on specific contracts and was clearing the goods on payment of excise duty on approved prices. In respect of the period from May 1992 to August 1994, six show cause notices were issued to the appell .....

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..... e appellant explained that no advance amounts were being taken from old and established customers, advance amounts were sometimes being taken from new customers and that too, depending upon the variety of machines they required. Annexure I of the additional paperbook submitted by the appellant refers to 8 transactions during the period in question. In four transactions, appellant received advance .....

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..... ases. There was also no comparison of the prices charged by the appellant with the prices charged by the competitors. In other words, there is nothing to show that receipt of advance amount in certain cases had the effect of depressing the wholesale price. In these circumstances, there was no justification in including the element of interest on advance in the assessable value. 3. For the above .....

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