https://www.taxtmi.com/caselaws?id=96334 Interest attributable to delayed payment in factory-gate credit sales is not includible in assessable value under section 4 of the Central Excise Act, 1944. The Tribunal applied the Supreme Court's valuation principle that where goods are sold on credit at the factory gate, interest for the period between delivery and realisation of price does not form part of the assessable value. It found that the Commissioner (Appeals) had erred in allowing deductions on that basis and directed valuation to be determined in line with the Supreme Court's directions. The assessee therefore succeeded on the valuation issue. en-us Thu, 22 Mar 2001 00:00:00 +0530 Wed, 21 Dec 2011 10:38:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=96334 Interest attributable to delayed payment in factory-gate credit sales is not includible in assessable value under section 4 of the Central Excise Act, 1944. The Tribunal applied the Supreme Court's valuation principle that where goods are sold on credit at the factory gate, interest for the period between delivery and realisation of price does not form part of the assessable value. It found that the Commissioner (Appeals) had erred in allowing deductions on that basis and directed valuation to be determined in line with the Supreme Court's directions. The assessee therefore succeeded on the valuation issue. Case-Laws Central Excise Thu, 22 Mar 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=96334