2011 (6) TMI 569

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....or the appellant Per: Mr. Ashok Jindal, Member (Judicial) Revenue has filed this appeal against the impugned order wherein the adjudication order confirmed the demand of duty along with interest and penalty on account of undervaluation was set aside. 2. The facts of the case are that the respondents are engaged in the manufacturing of lift elevators and part thereof. The respondent were i....

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....riate rate, is additional consideration that flows from buyer to the respondent beyond the contractual/sale price declared by the respondent to the department. The show-cause notice was adjudicated demand for duty on interest accrued earned on advances/deposit was confirmed along with interest and equivalent amount of penalty which was appealed before the Commissioner (Appeals) who set aside the a....

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.... includable in the assessable value of the goods. It was also held that where it is proved that interest free advances has influenced the price, onus lies on the revenue and no presumption can be drawn by mere fact of interest free advances received from by the buyer by the manufacturer has affected the assessable value. In the light of the judgment of the apex court, we have examined the records ....