Commissioner Of Central Excise, Mumbai ... vs M/S.I.S.P.L. Industries Ltd

The Supreme Court addressed whether notional interest on advances received from buyers should be included in the assessable value of goods for the purpose of central excise duty. The Revenue challenged orders from the Customs, Excise and Gold (Control) Appellate Tribunal (CEGAT) which had ruled in favor of the assessees. The Court examined the valuation of goods under the Central Excise and Salt Act, 1944, to determine if such notional interest constitutes a part of the assessable value.