2001 (2) TMI 179

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..... mmercial Vehicles. At the time of clearing the finished goods, while invoices are prepared, deduction on account of interest @ 1.3% of the assessable value was provided as interest on receivables. This deduction was opposed by the Department. They issued show cause notice wherein a differential duty was claimed for the period from May, 1990 to June, 1990. Differential duty claimed therein was to t .....

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..... alue. That it cannot be a part of assessable value has been held by the Supreme Court in MRF Ltd. case reported in 1995 (77) 433 (SC) . In this view the appeal is dismissed." By this order, the Revenue's contention that the deduction of 1.3% was includible with assessable value was held to be unjustifiable. Contention of the revenue that the said quantum should be added to the assessable value h .....

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..... acturer, Commissioner passed adjudication Order No. 1, dated 25-1-2000 and confirmed the demand. Hence, this appeal. 3. In the order impugned in this appeal, learned Commissioner comes to the conclusion "It appears that the deduction @ 1.3% claimed by the noticee are not on account of interest on receivable and hence they are not eligible for the said deduction". This observation, to say the lea .....

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