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Otis Elevator Co. (I) Ltd. Versus Commissioner of Central Excise, Mumbai-V

2015 (5) TMI 526 - CESTAT MUMBAI

Valuation of goods - Suppression of value - inclusion of notional interest - Held that:- Contract value has not been reduced due to advance taken and in case of higher advances, the value is lower. In the list given in the show cause notice, it is se .....

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have been taken and in the absence of such details, it cannot be said that the contract value is suppressed or reduced due to higher advance taken. - until and unless the Revenue is able to prove that the value is suppressed due to the advances taken .....

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Prabhudesai, Superintendent (AR) ORDER Per: P K Jain: Brief facts of the case are that the appellants are engaged in the manufacture, erection and commissioning of lifts. The case of the Revenue is relating to valuation. The appellants have paid the .....

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pose of assessment. According to the Revenue, in the cases where higher advance is taken, the contract value is on the lower side. Thus the value is reduced due to the notional interest on the advances held by the appellant. 2. Learned counsel for th .....

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they normally insist on advance. The quantum of advance depends upon the customer. For example, in case of a government contract, they do not take any advance. In case of reputed companies, a quantum of advance of only 10% of the contract value, whi .....

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ntract value is more. This itself disproves the point being advanced by the Revenue. From the table, there is no conclusion that in cases where they have taken more advance, the contract value is on the lower side and in view of this fact, the contra .....

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ed that as alleged in the show cause notice, the value has been depressed or reduced in case of the customer who has given the higher amount of advance. He further stated that after the new Section 4, the value is to be taken as the transaction value .....

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also the order passed by the Commissioner (Appeals). We have not been able to find anything in the show cause notice or the order-in-original to support the Revenue's claim that the contract value has been reduced due to advance taken and in cas .....

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