2017 (12) TMI 1207

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....for respondent ORDER Per: Raju This appeal has been filed by M/s. J.K. Files & Tools against disallowance of turnover discount, cash discount and freight & insurance and demand of duty thereon. 2. Ld. Chartered Accountant for the appellant pointed out that they were claiming deduction from the gross value in respect of - (a) Trade discount (b) Cash discount (c) Freight & insur....

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....er was disallowed and duty amounting to Rs. 63,675/- basic and education cess of Rs. 1,273/- was confirmed. Deduction on account of freight and insurance was disallowed and duty in respect of the same was also demanded. Deduction of cash discount amounting to Rs. 2,63,997/- was allowed however cash discount of Rs. 35,252/- was disallowed on the ground that the same was passed beyond the sales poli....

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....cision in the case of M/s. Raymond Ltd. (supra) clarifies the issue regarding adjustment of excess duty paid under one head against the short payment of duty to another head during the finalization of provisional assessment. In para 10 of the said order following has been observed. "10. As regards the adjustment of excess amount paid towards the short amount discharged in the provisional assess....