(i) Freight;

(ii) Other Taxes;

(iii) Interest on Debtors and Interest on duty-paid Stocks;

(iv) Distribution Expenses at duty-paid Depot;

(v) Excise Duty.

The Assistant Commissioner allowed the deductions on account of freight, other taxes, excise duty in terms of Honourable Supreme Court Judgement in the case of Bombay Tyre International. Interest on Debtors and Interest on duty-paid Stocks at Depot and Distribution Expenses on duty-paid goods at Depot, were disallowed.

2. At this stage, it may be mentioned that Interest on Debtors, Interest on duty-paid Stocks and Distribution Expenses - were claimed by the appellants in the light of the Supreme Court Judgement in the case of MRF reported in 1987 (27) ELT-553. This Judgement, it may further be noted, was recalled on a Review Petition filed by the Government of India. Final Judgement of the Supreme Court on the various aspects agitated by the Government in its Review Petition, has been delivered by the Apex Court as reported in 1995 (77) ELT-433.

3. On appeal before the Commissioner (Appeals), the appellants herein did not succeed on the aforesaid three counts. Hence this appeal before the Tribunal.

4. Learned Advocate, Shri S.N. Sinha Mahapatra appearing for the appellant firm, has now confined its claim only to Interest on Debtors. Their claim for deduction on account of Interest on duty-paid Stocks and Distribution Expenses at Depot - has been forsaken in view of the latest Apex Court Judgement in the case of MRF mentioned supra as reported in 1995 (77) ELT-433. Now in this connection, learned Advocate has drawn our attention to para 66 of the Apex Court Judgement which is headlined as "Interest on Receivables", which in his view, covers the case of the appellants before us. In order to give a background to this para 66, he has also drawn our attention to para 16 of the Recalled Judgement of the Apex Court as reported in 1987 (27) ELT-553 (supra). He also draws attention to a Report in a section, "Court Room Highlight" in 1995 (79) ELT:A-153 wherein, learned Advocate submits, in similar circumstances as theirs, the deduction has been allowed on account of "Interest on Receivables". He also draws attention to the Judgement of the Apex Court in the case of MRF as already followed by the Tribunal in a series of Judgements namely - (i) 1997 (92) ELT-101; (ii) 1997 (92) ELT-698; and (iii) 1997 (89) ELT-720 (Tribunal). In the Judgement of the Tribunal, matters had been remanded to verify the actual position to satisfy whether the Judgement of the Hon'ble Supreme Court in the case reported in 1995 (77) ELT-433 was applicable or not. In the light of the aforesaid citations, learned Advocate has prayed that the instant matter be also remanded to the Assistant Commissioner of Central Excise, Sreerampur Division, Calcutta-II, to decide the case de-novo in the light of the latest Supreme Court Judgement in the case of MRF mentioned supra.

5. Opposing the contentions, learned J.D.R., Shri S.N. Ghosh submits that the appellants have not been able to show on record that the 'Interest on Sundry Debtors' as claimed by them is the same thing as 'Interest on Receivables' referred to in para 66 of the Supreme Court Judgement mentioned above.

6. Whether this Judgement is applicable or not and whether the facts and circumstances of the present case are like the facts and circumstances narrated in para 66 of the case reported in 1995 (77) ELT-433, cannot be said with certainty that para 66 of the Supreme Court Judgement is applicable in the present facts and circumstances of the case. He has also drawn our attention to the Board's Circular headlined as "Valuation of Interest on Recovery Payment not excludible from assessable value" as reported in 1996 (83) ELT-T:29.

7. Learned J.D.R. has, therefore, submitted that the question of deduction in terms of the Supreme Court Judgement wil