2003 (11) TMI 191

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..... e is involved in this appeal, i.e. as to whether the interest on receivable is admissible to be deducted from the sale price so as to arrive at the assessable value. 2. We have heard both sides duly represented by Ms. Anjali Chandrekar, ld. Advocate for the appellants and Shri Khalwadekar, ld. JDR, for the Revenue. 3. It is seen from the impugned order of Commissioner (Appeals) that though he .....

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..... y the Tribunal's decision in the case of VST Industries v. CCE [1999 (114) E.L.T. 676 (Tri.)]. Further, our attention has been drawn to the Eastern Bench decision in the case of Shalimar Paints Ltd. v. CCE, Calcutta-II [2001 (128) E.L.T. 492 (Tri. - Cal.)] laying down that the interest on receivable being inbuilt in the price is deductible from the assessable value. For ready reference Para 7 of t .....

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..... se the Revenue has not raised any objection that no credit period was being allowed by the appellant to their customers. On the contrary the deduction has been disallowed 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." 5. In the instant case also we .....

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