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2014 (9) TMI 404 - CALCUTTA HIGH COURTValuation - Inclusion of bill discounting charges - whether in the nature of interest - Whether charges to the extent of 1.9 per cent. of the value of the bills paid by the Tata Motors to the bank in terms of an agreement which would be included within the cost of the raw material while determining the excise duty for its payment by the job workers - Held that:- Tribunal should consider the said point and shall record its findings thereupon. At this juncture Mr. Maity, drew the attention of this Court to a Division Bench order which directed the matter to be considered afresh and submits that remitting the matter back to the Tribunal for reconsideration would be contrary to the mandate of the Division Bench. On meaningful reading of the order of the Division Bench this Court finds that on earlier occasion, the writ petition was remanded to the Tribunal for reconsideration solely on the ground that the Tribunal failed to record reasons while dismissing the miscellaneous application seeking reconsideration of the parent order. Since the subsequent order passed on miscellaneous application is dependent upon the parent order, in view of the quashing or setting aside the parent order, this order cannot independently stand and is accordingly set aside - Decided in favour of assessee.
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