1998 (12) TMI 429

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....nt. Shri A. Ashokan, JDR, for the Respondent. [Order per : Gowri Shankar, Member (T)].  This is an appeal filed against the decision of the Collector (Appeals), Indore dated 11-3-1994 whereunder he had held that for the purpose of valuation of the cost of sleeper, the benefit of Modvat credit should be taken into account. 2. The assessee is a manufacturer of MBC sleepers fall....

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....nkani appearing for the appellant placed before us a decision of the Tribunal passed in the case of Incab Industries Ltd. v. Collector of Central Excise, Patna - 1998 (98) E.L.T. 560 wherein it has been held that where the contract provided for the price less Modvat element, the assessable value should also reflect the price agreed to in the contract. Shri Nankani explains to us that this is a cas....