1998 (5) TMI 201

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..... for the Appellant. Shri S.V. Singh, JDR, for the Respondent. [Order per : K.S. Venkataramani, Vice President]. - Since the issue relates to valuation of the tailor made electrical machinery and equipments manufactured by the Appellant falling under Chapter 85.90 (sic) of Central Excise Tariff Act and is covered by precedent decisions, and therefore we grant stay, and with the consent of the p .....

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..... It is however, seen on hearing both the sides that the matter stands settled by the precedent decision of the Tribunal which has followed Supreme Court judgment in the case of Metal Box India v. Collector - 1995 (75) E.L.T. 449. The principles to be applied in such cases is now well settled. Notional interest on advances received from customers is to be added to the assessable value of the final .....

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..... price of the product. The Appellants have brought out that the advance was being taken by them for the tailor made machinery manufactured by them as a precautionary measure to guard against losses on possible cancellation of the orders. It is written in the terms of the contract. Therefore the ratio of the precedent decisions would apply to the facts of the present case, and following it, we set .....

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