2023 (9) TMI 9

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.... the issue involved in both the appeals is identical, therefore, both the appeals are taken up together for disposal and discussion. The details of both the appeals are given herein below:- Appeal No. E/1605/2012 E/1606/2012 Issue Deduction of interest on receivables from the assessable value Deduction of interest on receivables from the assessable value Period December 2007 to May 2008 June 2008 to September 2008 OIA 51-52/CE/Chd-I/12 dt. 12.03.2012 51-52/CE/Chd-I/12 dt. 12.03.2012 OIO 2-3/CE/ADC/ADT/2010 dt. 30.04.2010 2-3/CE/ADC/ADT/2010 dt. 30.04.2010 SCN C.No. V(84)JC(P&V)Adj/Chd/39/2008/4266 dt. 30.10.2008 C.No. V(84)JC(P&V)Adj/Chd/39/2008/4266 dt. 30.10.2008 TAX Rs. 8,88,645/- Rs. 8,18,461/- Penalty Rs. 8,88,64....

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....de common Order-in-Original dated 30.04.2010 entire demand was confirmed alongwith interest and penalty. * Aggrieved by the said order, the appellant filed appeals before the Ld. Commissioner (Appeals) who vide OIA dated 12.03.2012 upheld the demand of excise duty as confirmed in the OIO. * Hence, the present appeals. 3. Heard both the parties and perused the records. 4. Ld. Counsel for the appellant submitted that the impugned order is not sustainable in law as the same has been passed without properly appreciating the documentary evidence on record and without following the precedent decisions on the same issue. She further submitted that the deduction of interest on receivable is claimed on the basis of purchase orders and the invo....

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....ennai 2015 (12) TMI 1158 (SC) 5. She further relied upon the following decisions, wherein it is consistently held that there is no dispute that deduction on interest on receivable shall be admissible to the assessee. * Government of India vs. MRF Ltd. - 1995 (77) ELT 433 (SC) * CCE vs. Novopan Industries Ltd. - 2007 (209) ELT 161 (SC). 6. She also submitted that in the Appellant's own case for the period January 2007 to November 2007, the department has allowed the deduction of interest on receivables vide order-in-appeal no. 102/CE/CHD/2009 and department has not filed any appeal against the said order and therefore, she submitted that the department cannot take different stand for different tax period for the same assessee when ....

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....ntral Excise, Jaipur 2017 (6) GSTL 161 (Tri.-Del.) 10. On the other hand, the Ld. DR reiterated the findings in the impugned order. 11. After considering the submissions of both the parties and perusal of material on record, we find that the only issue involved in the present cases is whether the interest on receivables is to be deducted from the assessable value for payment of duty or not? We find that the interest on receivables has been deducted on the basis of the purchase orders and invoices wherein it is clearly mentioned that the interest on receivables is on account of credit period and interest for the credit period is inbuilt in the price. 12. Further, we find that the department Circular dated 01.07.2002 also clarified this p....