2003 (1) TMI 192 - AT - Central Excise

Summary

The judgment by Appellate Tribunal CEGAT, Bangalore addressed whether liquidated damages for delayed delivery can be deducted in arriving at assessable value of goods. The Tribunal ruled that liquidated damages cannot be claimed as a deduction for assessable value, as it is a liability of the assessee and not an item of expenditure. The appeal by the Revenue was allowed, setting aside the previous order.