GST Helpdesk   Subscription   Demo   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
Extracts
Home List
← Previous Next →

2016 (8) TMI 1024 - CESTAT HYDERABAD

2016 (8) TMI 1024 - CESTAT HYDERABAD - TMI - Valuation - Whether the payment of damages can be regarded as reducing the agreed price - liquidated damages payable by appellant for breach of contract condition - claimed as deduction for arriving assessable value - Held that:- by following the dictum of Larger Bench of Tribunal in the case of Commission of Customs & Central Excise, Hyderabad Vs Victory Electricals Ltd. [2013 (12) TMI 81 - CESTAT CHENNAI] whereby it was held that wherever the assess .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

rate. Therefore, demand is unsustainable. - Decided in favour of appellant with consequential relief - E/295/2007 - Final Order No. A/30496/2016 - Dated:- 26-5-2016 - Ms. Sulekha Beevi, C.S., Member (Judicial) and Sh. Madhu Mohan Damodhar, Member(Technical) Shri K.V.S. Prabhakar Rao, Authorised Representative for the Appellant. Shri Prabhu DAS Puli, Joint Commissioner (AR) for the Respondent. ORDER The appellants are manufacturers of Resigned Lignite, Carboxyl Methyl Cellulose, Chromo Lignite an .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

n the basis of contract/supply order price of services/materials excluding duties and taxes. The appellant thereby deducted the value of liquidated damages from the assessable value and paid central excise duty accordingly on such deducted value. The department was of the view that payment of damages cannot be regarded as reducing the agreed price and confirmed demand holding that liquidated damages payable by appellant for breach of contract condition cannot be claimed as deduction for arriving .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 



|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version