Appellate Tribunal allows deduction of cash discounts on goods sold, impacting assessable value calculation.

The Appellate Tribunal CEGAT, New Delhi allowed the appeal of a tube manufacturer, permitting the deduction of cash discounts on goods sold at depots. The Tribunal ruled that cash discounts should be subtracted in calculating the assessable value, contrary to the lower authorities' ruling.

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The Appellate Tribunal CEGAT, New Delhi allowed the appeal of an appellant engaged in manufacturing tubes for tires, who claimed deduction of cash discount on goods sold at depots. The Tribunal held that cash discount should be deducted in determining the assessable value, overturning the lower authorities' decision. (Case: 1997 (12) TMI 259 - CEGAT, New Delhi)

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