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of <h1>Madras High Court: Notional Interest on Advances Not Fully Assessable Value</h1> <h3>KESSAL ENGG. CO. Versus COMMISSIONER OF C. EX., MUMBAI-III</h3> The appeal was allowed as the Madras High Court held that notional interest on advances should only be included in the assessable value of goods to the ... Valuation The appeal questioned whether notional interest on advances should be included in assessable value of goods. Madras High Court decision stated interest should only be included to the extent of benefit obtained. Tribunal found no evidence of price depression due to advances. Previous Tribunal decision considered notional interest as additional value, but was passed before Madras High Court decision. Appeal allowed, impugned order set aside.
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