1999 (10) TMI 565

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..... Revenue is aggrieved by the order of ld. Commissioner (Appeals) who has held that notional interest accrued on advances received by respondents herein is not required to be included in the assessable value of their final product namely power driven pump and parts thereof. He has followed the decision of Hon'ble Madras High Court in the case of Lakshmi Machine Works reported in 1995 (77) E.L.T. .....

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..... he applicability or otherwise of the Madras High Court decision relied upon by the Commissioner (Appeals). Since the issue in dispute is settled by the High Court's decision cited supra, and since there is no material on record to establish the nexus between the advances received and the sale price, I hold that there is no infirmity in the impugned order and hence uphold the same and reject the ap .....

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