2004 (7) TMI 485

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ant. Shri Sanjay Seghal, DR, for the Respondent. [Order per : S.S. Sekhon, Member (T)]. - Heard both sides and considered the issue. 2. The present appeal has been filed against the order of the Commissioner (Appeals) who held that the so-called "credit cost" is not interest accruing on delayed realisation of the sale proceeds, but is additional consideration and is a part of the ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....s of the prevailing interest rate which is 'always a fixed percentage and uniform for all buyers for a' constant period whereas "credit cost" is not charged on any fix percentage basis or on uniform rate. (viii) In respondent's own, case for the earlier period, the various buyers in their recorded statements under Section 14 clearly admitted that they do not consider the "credit cost" as, ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ellants are recovering on account of service charges are expenses made for the recovery of amount due to them from their customers on account of sales made on credit, was held to be correct and the Revenue's appeals were dismissed, as reported in CCE, Bombay v. Haldyn Glass Works - 1999 (110) E.L.T. 897 (Tribunal) and this order of this Tribunal has been confirmed by the Supreme Court in an appeal....