2011 (6) TMI 526

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..... t Per: Ashok Jindal: The appellants are in appeal against the impugned orders denying deduction on account of cheque discounting charges from the assessable value for the period prior to 01/07/2000. 2. The brief facts of the case are that the appellants are the manufacturers of cocoa and cocoa products, chocolates, etc. They filed their price-lists for the period April 1994 to December 1996 .....

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..... heque discounting charges from their assessable value. Against the said observation, the appellants are before us. 3. Shri R.G. Sheth, learned advocate for the appellants appeared and submitted that in a series of decisions of this Tribunal as well as the Hon'ble Apex Court has held that cheque discounting charges/ bank charges are deductible from the assessable value prior to the period 01/07/2 .....

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..... ssions made by both the sides we find that the issue involved in this case is whether the appellants are entitled for deduction on account of cheque discounting charges (local) or not?  We find that that in a series of decisions of this Tribunal as well as the Hon'ble Apex Court, time and again, it has been held that prior to the period 01/07/2000, the assessee is entitled for deduction on ac .....

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