2005 (7) TMI 562

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..... Member (T)]. Appeal arises out of the order of Commissioner of Central Excise (Appeals), Pune. 2. The appellant is a manufacturer of W.R. sets/Radio sub-assemblies, etc. While filing a price list for approval under the erstwhile Central Excise Rule 173C, the appellant claimed deduction of interest receivable from the buyers from the assessable value. Such deduction was denied by the Assist .....

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..... before the Hon ble court therein was exceptional cases of goods sold to up-country buyers. On the other hand as submitted by the appellants themselves in the present case extending of 15 days credit was a standard commercial practice. This in other words, means that the cost inclined on this aspect is normal cost incurred for marketing of manufactured goods. In that view of the matter the only way .....

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..... incurred after the goods left the factory was deductible from the assessable value; that regardless of the fact that interest was built into the price, the same was deductible; that the Tribunal in the case of Reliance Industries Ltd. v. CCE, Mumbai [2004 (165) E.L.T. 350] following the decision in MRF, held that interest on receivables in a credit sale is a permissible deduction even when interes .....

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