TMI Blog2003 (1) TMI 220X X X X Extracts X X X X X X X X Extracts X X X X ..... s appeal no claim on bank charges had been, as a matter of fact, made. Therefore, we are concerned only with one issue, namely, interest on receivables. 2. The Commissioner (Appeals) took the view that in the facts of the case abatement of interest on receivables could not be permitted since the interest was not charged over and above the sale price of the goods. 3. It is contended by the learned Counsel for the appellant that by applying the dictum laid down by the Supreme Court in Government of India v. Madras Rubber Factory Ltd. - 1995 (77) E.L.T. 433 the assessee is justified in claiming abatement of interest on receivables. Reliance was placed on paragraph 66 of the above judgment, which reads as follows : "66. The case of the a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by the assessee was the same. 4. Learned Departmental Representative would contend that so long as the invoices had not separately shown collection of interest for delayed payment the dictum in MRF case cannot be applied in the case of the appellant. Reliance was also placed on Board's letter F. No. 354/81/2000-TRU, dated 30-6-2000 clarifying certain points relating to new valuation provision made effective from 1-7-2000 and also Circular No. 643/34/2002-CX, dated 1-7-2002 clarifying certain points under the new valuation provisions introduced with effect from 1-7-2000. Relevant portion of Paragraph 8 of the letter dated 30-6-2002 reads as follows : "8. As regards interest for delayed payments it is the normal practice in industry to a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... delayed payment. Nothing will be discernible from the invoices as to charging of interest over and above the price. The contention of the assessee that they are taking into consideration the loss sustained by it towards interest for delayed payment in the price structure for the next year would indicate that interest is not charged over and above the price. Under these circumstances, the dictum in MRF case will be of no avail to the assessee. On going through the order passed by the Commissioner (Appeals) in favour of the assessee dated 29-9-2001 for a different period we find that no reason had been given by the appellate authority to grant relief. On the other hand, in the impugned order the Commissioner (Appeals) has recorded his view wi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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