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<h1>Appellate Tribunal allows discounts in assessable value; department's appeal dismissed.</h1> The Appellate Tribunal CEGAT, Mumbai ruled in favor of the assessee, allowing deductions for cash and turnover discounts in the assessable value. The ... Valuation The judgment by the Appellate Tribunal CEGAT, Mumbai involved appeals regarding the admissibility of cash and turnover discounts in the assessable value. The Tribunal ruled in favor of the assessee, allowing a 4% cash discount deduction and validating the turnover discount deduction based on known information. The department's appeal was dismissed, while the assessee's appeal was allowed. The judgment referenced previous rulings supporting the admissibility of discounts even when the exact quantum is not known at the time of clearance.
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