1999 (8) TMI 231

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..... The issue involved in this appeal is whether the notional interest on advances received from the customers is to be included in the assessable value of the goods manufactured by M/s. New Allenberry Works . 2. Shri R.K. Sharma, learned SDR reiterated the grounds of appeal as contained in the memorandum of appeal filed by the Revenue. He also relied upon the decision of the Supreme Court in the .....

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..... timetal Ltd. v. C.C.E., Jaipur, final order Nos. 1049-1050/99-A, dated 19-7-1999, in which it was held that in the absence of any evidence placed on record the acceptance of advance had not depressed the price of the goods. Notional interest of advance is not includible in the assessable value. In the present case also no such evidence has been brought on record by the Revenue. On the other hand, .....

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