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2017 (2) TMI 427 - CESTAT BANGALOREImposition of penalty - cost of free power supplied by HPL has to be taken into account while determining the value of gas supplied to HPL - valuation done in terms of Section 4 of the Central Excise Act, and duty with interest discharged. whether the imposition of penalty justified? - Held that: - the issue of penalty hinges on the fact whether the appellant has already furnished a copy of the product supply agreement to the department at any time prior to 5.7.2000, the date of visit of the departmental officers. If this fact is confirmed, then the allegation of suppression is not justified and consequently, no penalty is imposable under Section 11AC of the Act. However, if such agreement has been recovered by the departmental officers, only at the time of visit on 5.7.2000, as has been made out in the impugned order as well as in the argument of the DR, the allegation of suppression will have to be upheld and penalty imposed fully justified - matter is remanded to the original adjudicating authority to verify the fact when the agreement came to the notice of the department and to pass a revised order in de novo proceedings - appeal allowed by way of remand.
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