9911796707
TMI Blog2000 (9) TMI 139X X X X Extracts X X X X X X X X Extracts X X X X ..... to whether the appellants are entitled to claim deduction towards interest on receivables for determination of assessable value of the appellants' products. As per the appellants they are selling their goods to their customs on credit terms. No separate interest was being charged by them from their buyers for the credit period and the interest element was included in the price. In support of their ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , ld. Advocate appearing for the appellant submits that the said issue is covered by the Supreme Court's Order dated 2-8-1999 when the appeal filed by the Revenue against Tribunal's order No. A-1072 dated 17-12-1998 was dismissed by the Hon'ble Supreme Court. Drawing our attention to the memo of appeal filed by the C.C.E., Calcutta, he submits that it was the contention of the Revenue that the Boa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 34) RLT 85 - VST Industries Ltd. v. C.C.E. (iii) 1998 (102) E.L.T. 214 - G. Claridge Co. Ltd. v. C.C.E. (iv) 1997 (93) E.L.T. 698 - Jay Chemical Industries v. C.C.E. 6.We have also heard Shri R.K. Roy, ld. JDR who supports the orders of the authorities below. 7We find that apart from the fact that the. Commissioner, Calcutta appeal against the earlier decision of the Tribunal was dismi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... owed on the ground that such interest was inbuilt in the wholesale cash price. In view of this we find that the Larger Bench decision of the Tribunal squarely applies to the facts of the instant case. 8.In view of the foregoing we set aside the impugned order and allow the appeal by holding that the appellants are entitled to claim deduction of 'interest on receivables'. - - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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