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2017 (3) TMI 1597 - CESTAT CHENNAIValuation - clearances made by the loan licencee - validity of SCN - Held that: - When the SCN is thoroughly looked into, para 23 thereof brings out allegation of improper valuation of the finished goods manufactured by the loan licencee cleared to the appellant. How this particular allegation has emanated has not been brought out in the show cause notice succinctly. In absence of the allegation to confront to the appellant for rebuttal, there cannot be a plea of Revenue on the improper valuation of clearances made by the loan licencee to the appellant at a depressed value. Once the SCN fails to provide the foundation against the allegation in para 23 therein, that fails to stand - appeal allowed.
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