1999 (11) TMI 321

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..... : V.K. Agrawal]. - The issue involved in this appeal is whether turnover bonus given by the appellants, M/s. Fag Precision Bearings Ltd. is admissible deduction under Section 4 of the Central Excise Act. 2. The appellants, in their letter dated 5-11-1999, have requested to decide the appeal on merit on the basis of the submissions made in the appeal memorandum. We, therefore, heard Shri A. .....

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..... etc. including cash discount and turnover bonus. They have also relied upon the decision of the Hone'ble Supreme Court in the case of Bombay Tyres International reported in 1983 (14) E.L.T. 1896 that discount is permissible if it is payable under an agreements or under terms of sale and the nature of discount is known prior to the removal of the goods. It is not the case of the revenue that turnov .....

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