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2015 (11) TMI 893 - AT - Central ExciseDenial of refund claim - reduction in price / transaction value due to delay in delivery of manufactured goods as per agreed contract terms - liquidated damage charges imposed by MTNL/BSNL/DoT on delayed supplies by the assessee - Held that:- Wherever the assessee, as per terms of the contract between the parties and on account of delay in delivery of manufactured goods, is liable to pay a lesser amount than the generically agreed price as a result of a clause stipulating variation in the price, on account of liability to ‘‘liquidated damages’’, irrespective of whether the clause is titled ‘‘penalty’’ or ‘‘liquidated damages’’, the resultant price would be the ‘‘transaction value’’; and such value shall be alone liable to levy of excise duty, at the applicable rate. - In the light of the judgment of the Larger Bench [2013 (12) TMI 81 - CESTAT CHENNAI ], the assessee is entitled to succeed. - Decided against Revenue.
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