Customs, Excise and Gold Tribunal - Mumbai
Mercury Paints And Varnishes Ltd. vs Cce on 3 April, 1998
Equivalent citations: 1998(77)ECR299(TRI.-MUMBAI)
ORDER
U.L. Bhat, J. (President)
1. The common appellant in these appeals is absent in spite of notice of hearing. There is no representation and no request for adjournment. We have heard Shri M. Ali, JDR and perused the papers.
2. The appeals arise out of disallowance of the deduction claimed for prompt payment discount, turnover discount, product rebate, interest on receivables, interest on finished goods and distribution expenses. Going by the decision in MRF Ltd. , deduction has to be allowed for prompt payment discount, turnover discount, product rebate and interest on receivables and deduction has to be disallowed for interest on finished goods and distribution expenses of depots. The lower authorities were in error in disallowing the five deductions referred to above. The impugned orders are set aside to that extent. Appeals are allowed.
Pronounced and dictated in the open court.