1998 (5) TMI 63

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....dent. [Order per : Justice U.L. Bhat, President]. -  Shri N.K. Gaur, Commercial Manager of the appellant is present and seeks an adjournment on the ground that counsel is busy in a Civil Court in Meerut. We do not find this a valid ground for adjournment and accordingly we decline the request for adjournment. We have heard Shri M. Ali, JDR, and perused the papers. 2. Respondent, engag....

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....ing the demand. This order having been set aside by the Collector (Appeals), the Collector of Central Excise has preferred the present appeal. 3. The only ground urged by the appellant is that but for the receipt of security amounts respondent would have borrowed money from Commercial Banks and paid interest at 18% per annum. Therefore, notional interest at this rate should be treated as hav....