Tribunal corrects Final Order, includes interest on receivables in assessable value, department appeal upheld.

The Tribunal acknowledged errors in Final Order No. 655/2012 and made corrections regarding the inclusion of interest on receivables in the assessable value of goods. The department's appeal did not contest this inclusion, and the Tribunal upheld the decision, citing judgments by the Hon'ble Supreme Court. Changes were made to the Final Order to reflect the correct position, and the appeal was disposed of, confirming the amendments made.

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Issues:
1. Correction of factual errors in Final Order No. 655/2012 regarding Final Order No. 785 to 786/2007.
2. Whether interest on receivables should be included in the assessable value of goods.
3. Applicability of judgments by the Hon'ble Supreme Court in similar cases.

Analysis:
1. The department filed an application pointing out factual errors in Final Order No. 655/2012 related to Final Order No. 785 to 786/2007. The Additional Commissioner (AR) highlighted that the statement in para 3 of Final Order No. 655/2012 contradicted the findings of Final Order No. 785 to 786/2007, where interest on receivables was held to be part of the assessable value of goods. The department accepted Final Order No. 785 to 786/2007, so modifications were sought in the Final Order. The Tribunal acknowledged the errors and made necessary corrections to para 3 and concluded that the decision in favor of the respondent could not be altered.

2. The respondent's counsel argued that the department did not contest the inclusion of interest in the price of goods in the present case, unlike in Final Order No. 785 to 786/2007. The department's grounds of appeal acknowledged the presence of interest in the price of goods, which was not disputed. The Tribunal considered these submissions and found that interest on receivables was indeed included in the sale price of the goods, applying the ratio of judgments by the Hon'ble Supreme Court in similar cases.

3. The Tribunal substituted a paragraph in Final Order No. 655/2012 to reflect the correct position regarding the inclusion of interest on receivables in the assessable value of goods. Additionally, a change was made in para 4 of the Final Order to replace the term "case law" with "decisions of the apex court." The Tribunal disposed of the ROM application filed by the appellant, confirming the amendments made to Final Order No. 655/2012 in Appeal No. 671/2004.

This detailed analysis addresses the correction of factual errors, the inclusion of interest on receivables in the assessable value of goods, and the application of judgments by the Hon'ble Supreme Court in the Tribunal's decision-making process.

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