2009 (8) TMI 279

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..... ELCO, 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 i .....

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..... the buyer. The assessees started clearing their goods at the discounted value under Bill Marketing Scheme and an agreement to receive the sale proceeds immediately w.e.f. 9-1-02. The special discount granted in lieu of bank charges incurred by TELCO (buyer of the goods) are encashed with the bank by the assessees before the credit period. Buyer pays the full amount without any discount to the ban .....

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..... ad taken a different view namely that 1.9% was required to be included in the assessable value of the goods manufactured and cleared by other assessees like M/s. India Pistons etc. and such demand confirmations were set aside by the Tribunal, one such being in the case of India Pistons Ltd. v. CCE, Chennai [2007 (218) E.L.T. 451]. The ratio of the above decision holding that the amount in question .....

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