https://www.taxtmi.com/caselaws?id=88131 An advance interest component included in the declared price for a credit period is deductible from assessable value where it is refundable by credit note if payment is made against delivery or before the interest actually accrues. The amount was treated as a contingent recovery for delayed payment, not a non-refundable part of the sale price, so the lower authorities were not justified in rejecting the deduction outright. The price lists should have been approved with the stated qualification, and the deduction was available only to the extent no liability to pay interest had actually arisen during the relevant period. en-us Fri, 09 Jan 1998 00:00:00 +0530 Thu, 15 Sep 2011 12:46:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=88131 An advance interest component included in the declared price for a credit period is deductible from assessable value where it is refundable by credit note if payment is made against delivery or before the interest actually accrues. The amount was treated as a contingent recovery for delayed payment, not a non-refundable part of the sale price, so the lower authorities were not justified in rejecting the deduction outright. The price lists should have been approved with the stated qualification, and the deduction was available only to the extent no liability to pay interest had actually arisen during the relevant period. Case-Laws Central Excise Fri, 09 Jan 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=88131