TMI Blog2016 (8) TMI 1024X X X X Extracts X X X X X X X X Extracts X X X X ..... of Commission of Customs & Central Excise, Hyderabad Vs Victory Electricals Ltd. [2013 (12) TMI 81 - CESTAT CHENNAI] whereby it was held that wherever the assessee, as per the terms of the contract and on account of delay in delivery of manufactured goods is liable to pay a lesser amount that the generically agreed price as a result of a clause (in the agreement), stipulating variation in the pric ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d are registered with Central Excise Department. The appellants were clearing goods to M/s ONGC Ltd., M/s Oil India Ltd., M/s Singareni Collaries Company Ltd., basing on contracts. One of the conditions of the said contract is that, if the appellants fail to deliver the goods within the stipulated time, liquidated damages at a certain percentage of the order price will be recovered from the appe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Tribunal. 2. The learned counsel for appellant Shri K.V.S. Prabhakar Rao submitted that the issue is squarely covered by the decision of Larger Bench of Tribunal in the case of Commission of Customs Central Excise, Hyderabad Vs Victory Electricals Ltd., in Appeal Nos. E/251 to 253/2009 dated 18.11.2013. The Larger Bench held as under: On the aforesaid analysis, we answer the refere ..... X X X X Extracts X X X X X X X X Extracts X X X X
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