Appellate Tribunal in Bangalore Rules Against Revenue on Assessable Value Calculation

The appellate tribunal in Bangalore dismissed Revenue's appeal. The issue was whether notional interest on advances should be included in the assessable value. The burden to prove a nexus between advances and selling price was not met by the department. Therefore, interest on advances cannot be added to the assessable value.

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The appellate tribunal in Bangalore dismissed the appeal filed by Revenue. The key issue was whether notional interest on advances should be included in determining the assessable value. The burden was on the department to establish a nexus between advances and selling price, which was not done. Thus, interest on advances cannot be added to the assessable value.

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