TMI Blog2013 (12) TMI 337X X X X Extracts X X X X X X X X Extracts X X X X ..... who is only the job worker, cannot be said to be in accordance with the law - the amount was never received by the appellant and the Revenue has not shown that on account of receipt of said advance by M/s. INDAL the assessable value in the hands of present appellant gets depressed - for adding notional interest on advance received from the customers, Revenue has to establish that the assessable v ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ellant and Shri Mathur learned DR for revenue in respect of both the appeals, we find that M/s. Indian Aluminum Co. Ltd. (hereinafter referred to as INDAL) had entered into a contract with M/s. Powergrid Corporation of India for supply of ACSR Moose conductor at the rate of Rs. 1,08,000/- per km and M/s. INDAL further gave the contract to manufacture the said goods to one M/s. Electric Manufacturi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 4. Revenues contention is that such advance received by M/s. INDAL from M/s. Powergrid Corporation of India are required to be added in the assessable value of the contractors in the hands of present appellant. Accordingly, proceedings were initiated resulting in confirmation of demand and imposition of penalties. In addition, penalty of Rs. One lakh was imposed on M/s. Electric Manufacturing Comp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Revenue has not shown that on account of receipt of said advance by M/s. INDAL the assessable value in the hands of present appellant gets depressed. It is well settled law that for adding notional interest on advance received from the customers, Revenue has to establish that the assessable value get depressed on account of such receipt of advance. One such reference can be made to Honble Supreme ..... X X X X Extracts X X X X X X X X Extracts X X X X
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