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2016 (1) TMI 102 - AT - Central ExciseDenial of refund claim - Valuation - Reduction in value due to liquidated damage (LD) - delay in supply of the goods to their customers/purchasers as per the clause in the agreement with the buyers, the liquidated damage (LD) charges were deducted as compensation from the invoice price of the goods - Held that:- Decisions quoted above and especially the ratio of the Tribunal’s Larger Bench decision in the case of Victory Electricals Ltd. (2013 (12) TMI 81 - CESTAT CHENNAI ), the liquidated damages (LD) had to be factored in to arrive at the correct transaction value which has to be treated as assessable value for payment of Central Excise duty; whatever the duty paid in excess on account of non-factoring of liquidated damages would be liable to be refunded to the appellants. - Decided in favour of assessee.
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