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Jagajothi Spinning Mills Versus Commissioner of Central Excise, Salem - 2013 (8) TMI 344 - CESTAT CHENNAI - Central Excise

Valuation (Central Excise) - Sale to related parties - Demand of differential duty - Penalty u/s 11AC - Commissioner upheld penalty - Held that - the provision in the Valuation Rules, with regard to s................

............ res-integra as can be seen from the various decisions quoted by the Counsel for appellants. Out of the four decisions quoted by Ld. AR for Revenue, the first three relate to the old valuation Rules and is not quite relevant in the context of the new Rules notified in 2000. The decision of the Apex Court is in the context of an assessee who has been selling goods at prices substantially lower than cost price to capture the market. In this case, no case is made out that the price at which goods are sold to M/s Jayakumar Fabrics is less than cost price. So, we do not find that the said decision would apply in the facts of this case. So, we go by the decisions of the Tribunal already given in the matter to the effect that when prices of goods sold to independent buyers are available there is no scope for invoking provisions of Rule 9 read with Rule 8. 11. So we set aside the impugned order and allow the appeal with consequential benefits. (Pronounced in open court on 07.05.2013)


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