9911796707
TMI Blog2007 (7) TMI 461X X X X Extracts X X X X X X X X Extracts X X X X ..... provides that any payment in connection with the sale that could become payable at a later point of time shall be added to the transaction value - interest upheld - appeal dismissed. - E/1558/2006 - A/1853/2007-WZB/AHD - Dated:- 19-7-2007 - Shri M. Veeraiyan, J. REPRESENTED BY : None, for the Appellant. Shri K.J. Sanchis, Jt. CDR, for the Respondent. [Order]. This is an app ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... al authority ordered recovery of interest amounting to Rs. 5,941/- under Section 11AB of the Central Excise Act, 1944 which has been upheld by the Commissioner (Appeals). 4. The appellant submits that in the foundry industry, the price fixations are agreed upon between the manufacturer and the buyer in the beginning of each year based on the price of pig iron and raw material; subsequently price ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e goods were based on purchase orders from the customers and there was a price escalation clause. Therefore, the transaction value adopted by the appellant for self-assessment of duty in terms 61 Rule 6 of the Central Excise Rules was not correctly determinable. The appellant had option to seek permission for provisional assessment under Rule 7. If provisional assessment was resorted to, then at t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... terms of Section 4 shall be the transaction value at the time and place of removal and include in addition the amount charged as price, any amount which the buyer is liable to pay to the assessee in connection with the sale, whether payable at the time of sale or any other time. In this case, since there is a price escalation clause, the amount becomes payable at a later point of time and as such ..... X X X X Extracts X X X X X X X X Extracts X X X X
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