2004 (6) TMI 418

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..... Order per : C.N.B. Nair, Member (T)]. The appellant, manufactures tractors. The tractors are sold to dealers who in turn sell them to customers after charging their (dealer's) commission. It is not in dispute that the appellant's sale to the dealers is on principal-to-principal basis. 2. The dispute that has arisen between the appellant and the revenue is in regard to a deposit collected b .....

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..... value of the tractors under sale. 3. We have perused the records and have heard both sides. The contention of the appellant is that this issue remains settled in favour of the assessee by the order of three Judge Bench of the Apex Court in the case of CCE, Delhi v. Pratap Steel Limited - 1998 (29) RLT 17. The learned Counsel for the appellant has pointed out that, in the Pratap Steel case, this .....

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..... eposit is not to form part of the assessable value remains settled by the decision of the Apex Court in the case of Pratap Steel Limited. The judgment in the Pratap Steel case has been noted in the Apex Court judgment relied upon by the revenue. The view taken in the impugned order is contrary to settled law. Therefore, the impugned order is set aside and the appeal is allowed with consequential r .....

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