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M/s Kalpana Chemicals Versus CCE, C & ST, Hyderabad - III

2016 (8) TMI 1024 - CESTAT HYDERABAD

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 dic .....

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ccount 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 price, on account the liablility to “liquidated damages”, ir .....

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ecided 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 .....

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l 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 w .....

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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 d .....

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not an item of expenditure which is to be deducted from the assessable value. In appeal, the first appellate authority upheld the same. The appellant is thus before the Tribunal. 2. The learned counsel for appellant Shri K.V.S. Prabhakar Rao submitt .....

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