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2009 (8) TMI 279 - AT - Central ExciseIncludibility of discount in assessable value of goods – assessee sold goods to M/s. TELCO based on purchase orders in which a discount of 1.9% of the basic price was included by the buyer - There is no dispute that 1.9% collected by the bank from M/s. TELCO, buyer of the goods in question, was not passed on to the manufacturers/sellers. - Tribunal, one such being in the case of India Pistons Ltd. v. CCE, Chennai [2007 (218) E.L.T. 451] holding that the amount in question is in the nature of interest received by the bank from the buyer of the goods and is not includible in the assessable value of the goods sold - The ratio of the above decision is applicable on all fours to the facts of the present case and following the same, we uphold the impugned order and reject the appeal.
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