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<h1>Appellate Tribunal allows turnover bonus as deduction under Central Excise Act</h1> The Appellate Tribunal CEGAT, New Delhi, allowed the appeal by M/s. Fag Precision Bearings Ltd. regarding the admissibility of turnover bonus as a ... Valuation The judgment by Appellate Tribunal CEGAT, New Delhi, involved M/s. Fag Precision Bearings Ltd. and the admissibility of turnover bonus as a deduction under Section 4 of the Central Excise Act. The Collector (Appeals) had ruled in favor of the appellants. The Tribunal found that the turnover bonus was known prior to the removal of goods and allowed it as a deduction from the assessable value, following Supreme Court precedents. The appeal was allowed.
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