2006 (3) TMI 389

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ultant, for the Appellant. Shri Y.S. Loni, JDR, for the Respondent. [Order per : C. Satapathy, Member (T)]. -  Heard both sides. The appellants have a clause in a contract which allowed them to collect the bonus amount if their supplies exceeded a specific level and there is also a penalty clause. It is a contention of the appellants that the bonus received by them is not includable ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....petition allowed earlier was purely on the basis of the case law relating to the old Valuation provisions prior to July, 2000 and hence the same cannot be relied upon. 4. Considering the arguments from both sides as well as the case law and the legal provisions, we find that prima facie, the amount received as bonus from the buyer are required to be included in the assessable value. The ap....