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2011 (6) TMI 569 - AT - Central ExciseUndervaluation - Interest on deposits - It was alleged that the respondent have been receiving advances/deposits towards orders placed by them towards contract/agreement and by utilising such advances/deposit the respondent gained on account of interest – Held that:- assessee took advances from the buyer as security advances as in case the buyer fails to take delivery of the specified product after manufacturing, the respondent should not suffer the losses. Therefore, they are taking the advances as security deposit. It is also on record that no such security deposit has been taken from the Government Institutions. It is also on record that in some cases where no advances has been received, the price are lower than from the customers to whom advances has been taken, advances/deposit received by the respondent does not affect the assessable value, Appeal filed by the revenue is dismissed
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