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2013 (11) TMI 237 - CESTAT BANGALOREDetermination of assessable value – Waiver of pre deposit of duty and Penalty u/s 11AC of CE Act – Held that:- The applicant has determined the assessable value on stock transferred goods under Rule 8 of Central Excise Valuation Rules by adopting 110% of the cost of the product - the applicant has adopted the CAS-4 method - the value was determined by the CERA Audit whereby, the assessable value for the respective years had been revised. The difference in the assessable value was around 57.39 Lakhs and 36.71 Lakhs respectively in comparison to the value arrived at by the applicant, whereas for the years 2006-2007, 2008-2009 and 2009-2010, the applicant has paid duty on the excess value of Rs.3.13 crores, 2.3 crores and 3.03 crores respectively - Prima facie, there was no reason why the excess duty paid during 2006-07, 2008-09 & 2009-10 should not be adjusted for the period where duty has been short paid - the applicant could able to make out a prima facie case for total waiver of dues and all dues waived and its recovery stayed during the pendency of the appeal – Stay granted.
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