9911796707
TMI Blog1998 (2) TMI 330X X X X Extracts X X X X X X X X Extracts X X X X ..... va, SDR, for the Respondent. [Order per : Justice U.L. Bhat, President]. - Appellant, engaged in the manufacture of tailormade packaging machinery, was paying duty on approved prices. In respect of 19 contracts, it was found that the appellant had received advances ranging from Rs. 5,000/- to Rs. 2 lacs as against contractual price ranging from Rs. 37,000/- to Rs. 4.8 lacs, retained for a perio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hat the receipt of advance did influence the price. This aspect of the advance amount influencing the price was not considered by the Assistant Collector. 3. Collector (Appeals) considered this aspect. During the personal hearing he specifically asked the appellant whether final price of the equipment would increase if advance is not taken by the appellant and the answer of the appellant was ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ctor. This does not appear to be the correct approach. We are dealing in this case with the period 1989-90. The adjudicating authority should have made some enquiry with the banks as to the interest they pay on receipt of advance and the interest they charge for commercial loans. Having regard to the present rate of interest and the period in question, we reduce the percentage of notional interest ..... X X X X Extracts X X X X X X X X Extracts X X X X
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