https://www.taxtmi.com/caselaws?id=1073 The Supreme Court dismissed the Revenue's appeals under Section 35L(b) of the Central Excises and Salt Act, 1944, regarding the deductibility of interest on receivables from the assessable value. The Court upheld the Tribunal's decision allowing the deduction of interest inbuilt in the price, not charged separately, from the assessable value. Emphasizing consistency in legal interpretation and precedents, the Court held that the Revenue cannot take a contrary stand after accepting principles from earlier cases. The decision was based on settled law and the lack of appeal by the Revenue in a similar case, leading to the dismissal of the appeals. en-us Thu, 11 Jan 2007 00:00:00 +0530 Mon, 14 Apr 2008 06:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=1073 The Supreme Court dismissed the Revenue's appeals under Section 35L(b) of the Central Excises and Salt Act, 1944, regarding the deductibility of interest on receivables from the assessable value. The Court upheld the Tribunal's decision allowing the deduction of interest inbuilt in the price, not charged separately, from the assessable value. Emphasizing consistency in legal interpretation and precedents, the Court held that the Revenue cannot take a contrary stand after accepting principles from earlier cases. The decision was based on settled law and the lack of appeal by the Revenue in a similar case, leading to the dismissal of the appeals. Case-Laws Central Excise Thu, 11 Jan 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=1073