Tax Management India. Com
                        Law and Practice: A Digital eBook ...

Category of Documents

TMI - Tax Management India. Com
Case Laws Acts Notifications Circulars Classification Forms Manuals SMS News Articles
Highlights
D. Forum
What's New

Share:      

        Home        
 

TMI Blog

Home List
← Previous Next →

2009 (8) TMI 279

..... 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 assessa .....

X X X X X X X

Full Text of the Document

X X X X X X X

..... the basic price was included by 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 .....

X X X X X X X

Full Text of the Document

X X X X X X X

..... , the Commissioner (Appeals) had 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 holdi .....

X X X X X X X

Full Text of the Document

X X X X X X X

 

 

← Previous Next →

 

 

|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || Database || Members || Refer Us ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.
|| Blog || Site Map - Recent || Site Map ||