R. JAYASIMHA BABU, J.

Assessee is a manufacturer of cutting tools. It's claim for refund of duty paid was on the ground that it had given credit notes to its dealers who were the purchasers of those goods. The fact that such discount was given as also the fact that discount given included the duty element is not disputed.

2.The claim for refund was made on 19-7-1988 and 15-6-1989. The claims were made within the period of limitation prescribed in Section 11B of the Central Excise Act.

3.Such claims were allowed by the Asstt. Collector and that order was affirmed by the Collector of Customs. On further appeal by the Revenue, the Tribunal disallowed the claim on the ground that the turnover discount could not be regarded as having any effect on assessable value and would not constitute an admissible deduction. The assessee having carried the matter on appeal to the Supreme Court, the Supreme Court by its Order dated 11-3-1997 held that the turnover discount is an admissible deduction. In the meanwhile, the Assistant Commissioner had directed refund of the amounts in view of the fact that the Tribunal had not stayed the order of the Commissioner who had confirmed the Order of