Shri G.A. Brahma Deva
1. The short point to be considered in this case in whether Notional interest on advance is t o be included in determining the assessable value. We find that the issue involved herein is no longer res-integra, in view of the Supreme Court decision n the case of VST Industries Ltd., reported in 1988 (97) ELT 395 (SC).
2. The Department has filed an appeal on the ground that whether the advance/deposits in not includible in the assessable vale for fixation of sale price. No evidence has been placed on record to substantiate the claim of the Department that there is nexus between the advance and fixation of the sale price.
3. We find that in the absence of evidence and since the issue involved has already been considered and concluded by the Apex Court. Following the same we reject the appeal.
(Pronounced and Dictated in the Open Court)
Cce v. National Standard Duncan Ltd
Cce v. National Standard Duncan Ltd
(Customs Excise And Gold (control) Appellate Tribunal South Zonal Bench At Bangalore)
Appeal No. E/V-3695/98, Arising Out Of Order-In-Appeal No. 594/98, Dated 02.09.98, Passed By The Commissioner Of Central Excise (Appeals), Bangalore | 11-04-2001
Advocate List
Bench
- SHRI G.A. BRAHMA DEVA, MEMBER
- SHRI S.S. SEKHON, MEMBER
Eq Citations
- 2001 (75) ECC 772
- LQ/CEGAT/2001/495
Head Note
Value of Property — Notional interest on advance — Inclusion of, in assessable value — VST Industries Ltd., (1988) 97 ELT 395 (SC), reiterated — Held, no evidence placed on record to substantiate claim of Department that there is nexus between advance and fixation of sale price — In absence of evidence and since issue involved has already been considered and concluded by Apex Court, following the same, appeal rejected
