Pre-deposit relief in valuation dispute over interest on receivables, with partial deposit required before waiver and stay.

In a pre-deposit application concerning inclusion of interest on receivables in assessable value, the controversy was treated as arguable and the appellant's Chartered Accountant certificate was considered, but the plea that the goods were not sold on credit was found prima facie difficult to accept. Taking into account the amount already deposited and the surrounding circumstances, partial relief was granted by requiring a further deposit and then waiving the balance pre-deposit with stay of recovery.

---

---

Issues: Whether the appellant was entitled to waiver of the balance pre-deposit and stay of recovery in respect of the demand arising from inclusion of interest on receivables in the assessable value.

Analysis: The application concerned pre-deposit for the disputed demand. The order noted that the controversy over inclusion of interest on receivables was arguable, that the appellant had produced a Chartered Accountant's certificate indicating the claimed deduction represented average incidence of interest charges, and that the plea that the goods were not sold on credit was prima facie difficult to accept. Having regard to the amounts already deposited and the circumstances of the case, partial relief was considered appropriate.

Outcome: Further deposit of Rs. 7 lakhs was directed, and on such deposit the balance pre-deposit was waived and recovery stayed.

---