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2017 (1) TMI 1386 - AT - Central ExciseValuation - interest on receivables - whether Interest on receivables through cheque discounting is permissible deduction to arrive at the assessable value of the excisable goods sold by the appellant through their depot or not? - Held that: - The issue is squarely covered by this Tribunals following judgments in the appellants own case Cadbury India Limited Versus C.C.E., Indore [2015 (10) TMI 1949 - CESTAT NEW DELHI], where it was held that the cheque discounting charges are charged by the bank for discounting of cheques to cover for delay in realization of payments by up-country buyers. This is nothing but interest on receivable which in terms of the Apex Court judgment in case of Government of India Vs. Madras Rubber Factory Ltd., reported in [1995 (5) TMI 28 - SUPREME COURT OF INDIA] is not includible in the assessable value - the impugned order disallowing the deduction on account of interest on receivables through cheque discounting is not correct and legal - appeal allowed - decided in favor of appellant.
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