TMI Blog2012 (4) TMI 506X X X X Extracts X X X X X X X X Extracts X X X X ..... e. Learned adjudicating authority has proceeded on the ground that Rule 10 of Valuation Rules will apply. On perusal of the said Rule 10, we find that prima facie this Rule will not apply, as the said Rule talks about the arrangement of an assessee for sale of excisable goods, except to or through ICUs. In this case, we find that and it is undisputed that the appellant had sold their finished good ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lant M/s. Gold Jyoti Polymers, along with equivalent amount of penalty under Section 11AC (b) Duty of Rs. 42,68,071/-on Unit-III of the appellant M/s. Gold Jyoti Polymers, along with equivalent amount of penalty under Section 11AC (c) Penalty of Rs. 10,00,000/- imposed on Shri Premji V. Bhanushali, partner of appellant Unit-I. 2. The above said amounts have been confirmed by the adjudicating ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... thority himself has rejected Rule 9 and 10 of the Central Excise Valuation (Determination of Price of Excisable Goods) Rules, 2000, (hereinafter referred to as Valuation Rules) and has proceeded again to Rule 11 and has confirmed the demand based on the value of the goods sold by such ICUs. 4. Learned SDR would submit that the adjudicating authority was right in coming back to the value of the g ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the arrangement of an assessee for sale of excisable goods, except to or through ICUs. In this case, we find that and it is undisputed that the appellant had sold their finished goods to independent buyers also and to their ICUs. 6. At this juncture, we find that the valuation of the goods done by the appellants, even if Rule 11 of the Valuation Rules has to be applied, would lead to, prima fac ..... X X X X Extracts X X X X X X X X Extracts X X X X
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