2017 (2) TMI 372

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....AR) for Respondent ORDER Per Raju This appeal has been filed by M/s Asea Brown Boveri Ltd. The appellant had taken certain advance vide existing orders/contract with Government department and Public Sector Undertakings etc. A notice was issued to the appellant seeking to include notional interest on such advances in the assessable value. A demand was confirmed by the lower authorities. Ag....

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....e on account of such advances should have been produced by the Revenue. Hon'ble Apex Court in the case of ISPL has observed as follows: - "11. It is clear that the mere fact of making an interest free advance by a buyer to the manufacturer, by itself will not be a sufficient ground to reload the assessable value with notional interest. It would be necessary for the revenue to show tha....

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.... if there is no deference in the selling price for both categories of the wholesale buyers and there is also no proof that on account of advance deposits taken from some buyers, the price charged from all buyers has been reduced, then element of notional interest on advance deposits, cannot be added. Obviously, where there are two prices, one for those who have made the advance and the other who h....