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2019 (3) TMI 1499 - AT - Central ExciseValuation - allowability of deductions - whether the appellant is entitled to deductions on account of freight charge, interest on receivable and bank charges during the relevant period from April, 1997 to January, 1999? - Held that:- In principle, there is no dispute of the fact that all these elements of expenses are eligible as deduction from the price in arriving at the assessable value and their admissibility to the appellant during the said period. The adjudicating authority in the order observed that the appellant had failed to produce relevant records in support of quantification of deductions claimed by them to arrive at assessable value - For the purpose of quantification, the matter needs to be remanded to the adjudicating authority. Applicability of interest on differential duty - Provisional assessment - Held that:- This issue is settled by the Hon'ble Jharkhand High Court in the case of Pre-Stressed Udyog (India) Pvt. Ltd. [2015 (7) TMI 1078 - JHARKHAND HIGH COURT], where it was held that Respondent is bound to make payment of interest under Rule 7 (4) even if the earlier assessment is provisional in nature - Besides, during the relevant period there was no provisional assessment resorted to by the appellant by following the prescribed procedure - the claim of the appellant that since the assessment was provisional, therefore, interest is not applicable, is not correct, hence not acceptable. The appeal is remanded to the adjudicating authority for the purpose of quantification of differential duty and interest - appeal allowed by way of remand.
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