Customs, Excise and Gold Tribunal - Bangalore
Karnataka Vidyuth Karkhane Ltd. vs Commissioner Of Central Excise, ... on 13 March, 2001
ORDER
Shri G.A. Brahma Deva
1. All these appeals relate to national interest on advances. Whether Notional interest on advances is to be included or not is an issue to be determined in these appeals. In the case of VST INDUSTRIES LTD., Vs. CCE, Hyderabad reported in 1998 (97) ELT 395 (SC) held that Notional interest on advance/security deposit taken from customer when not addable to assessable value. IN the instant case also there is nothing on record to substantiate that there is nexus between advances taken from the party and the prices offered to them in respect of the goods.
2. In the facts and circumstances & in view of the ruling given by the Supreme Court in the afore said decision, we find that there is substantial force in the arguments advanced on behalf of the assessee. Accordingly all these appeals are allowed with consequential relief, if any.
3. Ordered accordingly.