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TMI Blog2015 (12) TMI 1158X X X X Extracts X X X X X X X X Extracts X X X X ..... f 1.75 per cent, which was nothing but cash discount. - Invoices for sales on credit terms, interest for the credit period was in built in the credit price. - Impugned order is set aside - Decided in favour of assessee. - Civil Appeal No. 532/2008 WITH C.A. No. 2463/2008 - - - Dated:- 6-11-2015 - MR. A.K. SIKRI AND MR. ROHINTON FALI NARIMAN, JJ For the Petitioner : Mr. S. K. Bagaria, Sr. Adv., Mr. Udit Jain, Adv., Mr. Alok Yadav, Adv., Mr. Siddhartha Chowdhury, Adv. And Mr. K. Ajit Singh, Adv. For the Respondent : Mr. Rupesh Kumar, Adv., Mr. T. M. Singh, Adv., Ms. Sadhana Sandhu, Adv., Mr. Jitin Singhal, Adv., Mr. Pratik, Adv. And Mr. B. Krishna Prasad, Adv. ORDER The appellant-assessee herein is a registered manu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er, 1995, as per discount scheme set out in Exhibit 'E' to the said letter and the main features of the said scheme were also disclosed in the letter. Acceding to the request contained in the letter, the Assistant Commissioner vide his communication dated 25.06.1996 informed that provisional assessment had been ordered under Rule 9B of the Central Excise Rules, 1944, in respect of clearances made during the aforesaid period. Thereafter, vide letter dated 30.06.1997, the assessee requested for finalisation of provisional assessment made during the aforesaid period. Along with this letter, the assessee had also enclosed the certificate of its Chartered Accountant certifying the rebates, interest on receivables and sales tax (non-re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 61 (SC). Ordered accordingly. All contentions are left open to be agitated before the Tribunal. The appeal stands disposed of accordingly. After remand, the Tribunal has passed final order dated 26.06.2007 dismissing the appeal filed by the assessee and and disallowing the deduction claimed on account of interest on receivables. This order is the subject matter of the instant appeal at hand. A perusal of the order of the Tribunal would reflect that after examining the invoices which were produced on record by the assessee, on such invoices, unit price of given commodity shown in the Cash on Delivery (CoD) invoice is less by 1.75 per cent of the unit price of the same goods shown in the credit sale invoice. From this, th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and cash sales was to the extent of 1.75 per cent, which was nothing but cash discount. For the sake of convenience, we demonstrate the same as under: - Details of the invoices considered by the Tribunal WHEEL BEARING GR 88 ALL PURPOSE GRS 88 Prices charged in invoices for sales on credit terms Rs.68.00 Rs.69.50 Prices charged in invoices for cash sales Cash Discount of 1.75% deducted from credit price Rs.1.19 Rs.66.81 Cash prices charged in invoices for cash sales Rs.1.22 Rs.68. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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