https://www.taxtmi.com/caselaws?id=445472 CESTAT Mumbai ruled in favor of the assessee regarding recovery of Central Excise Act with penalty involving transaction value determination under section 4(3)(d). The tribunal found that the scheme involved premature payment at present value with discounting for time value of money, without retention of amounts by the assessee. Following precedent from Uttam Galva Steels Ltd, the tribunal held that "actually payable" rather than "actually paid" was relevant for transaction value calculation. The demand was set aside and appeal allowed. en-us Wed, 18 Oct 2023 00:00:00 +0530 Wed, 08 Nov 2023 12:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=445472 CESTAT Mumbai ruled in favor of the assessee regarding recovery of Central Excise Act with penalty involving transaction value determination under section 4(3)(d). The tribunal found that the scheme involved premature payment at present value with discounting for time value of money, without retention of amounts by the assessee. Following precedent from Uttam Galva Steels Ltd, the tribunal held that "actually payable" rather than "actually paid" was relevant for transaction value calculation. The demand was set aside and appeal allowed. Case-Laws Central Excise Wed, 18 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=445472