Final tribunal ruling on interest on receivables bars reopening the same assessable value issue for later periods.

Interest on receivables was held not includible in assessable value on identical facts, and that final tribunal decision bound later proceedings. The departmental authority could not reopen the same valuation issue for a subsequent period by taking a contrary view on the same material. Once the earlier ruling had attained finality, the proper course was to challenge it in accordance with law rather than ignore it in fresh adjudication. On that basis, the demand seeking inclusion of the 1.3% deduction in assessable value was unsustainable and was set aside in favour of the assessee.

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Issues: Whether the deduction of 1.3% claimed as interest on receivables could be added to the assessable value for the subsequent period despite an earlier final Tribunal order holding the same deduction to be not includible.

Analysis: The earlier final order of the Tribunal had already decided, on identical facts, that interest on receivables could not form part of the assessable value. The departmental authority could not reopen the same question for a later period by taking a contrary view on the very same issue and facts. Where the earlier decision had attained finality, the proper course for the Department was to challenge that decision according to law rather than to disregard it in fresh adjudication.

Conclusion: The demand based on inclusion of the 1.3% deduction in assessable value was unsustainable and was set aside in favour of the assessee.

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