2000 (2) TMI 355

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....ith S.S. Gupta, CA, for the Appellants. Shri K.M. Patwari, JDR, for the Respondent. [Order per : Gowri Shankar, Member (T)]. -  These appeals, one by the department and one by the assessee, are against the order of the Collector (Appeals). The assessee was in the practice of giving cash discount of 4% to those buyers who retire documents within 15 days and 3% to buyers who retire the....

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....;The department's appeal question correctness of this on the ground that the quantum of discount is not known at the time of clearance. The appeal by the assessee is on the ground that 4% cash discount should be deducted from the assessable value and the turnover discount should be a valid deduction in the case of sales to those on the basis of actual turnover discount in those cases where discoun....

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....ds, the discount should not apply. The judgment of Supreme Court in Bombay Tyres International Ltd - 1983 (14) E.L.T. 1896 does not support this view. The rate in fact is known, as such is the quantum. What is not known is not this, as to which two levels of discount will be available or any discount will be available. The Bombay Tyres International judgment said that if the allowance and nature o....