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2016 (5) TMI 1316 - AT - Central ExciseValuation - Differential duty - Penalty - Related Parties - Held that: - both the appellants and M/s. Taj Services Ltd., are Companies incorporated under Companies Act, 1956. Therefore, in terms of ruling by the Hon’ble Supreme Court in the case of Calcutta Chromotype Ltd. [1998 (3) TMI 138 - SUPREME COURT OF INDIA], we hold that M/s. Residency Foods & Beverages Ltd. and M/s. Taj Services Ltd., during the period covered by the appeal, were not related persons. We find that as per the provisions of law as existed during the material period, the said deductions were allowable for arriving at the assessable value. After allowing the said deductions, there is no differential duty demandable from the appellants - The finalization of the assessment was not challenged by the Revenue before the ld. Commissioner (Appeals). Therefore, the impugned show cause notice is hit by limitation - Appeal allowed.
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