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2014 (9) TMI 187 - HC - Central ExciseExtended period of limitation - jurisdiction - dispute regarding valuation was settled by the larger bench of tribunal - clearances of cement to their own units - valuation under Rule 8 read with Rule 9 of the Central Excise Valuation Rules, 2000. - Held that:- Larger Bench in the case of Ispat Industries [2007 (2) TMI 5 - CESTAT, MUMBAI] had concluded that the provision of Rule 8 of the Valuation Rules would not apply in a case where some part of the production of goods were cleared to the independent buyers. Admittedly, in the instant case, there is a sale of loose cement to the independent buyers at a value higher than arrived at by the respondent for the discharge of the duty liability of the cement. Noticing the fact that regular monthly returns were being filed by the respondent from March, 2008 onwards, which were accepted by the authorities without any murmur, while fixing the higher value at which the sale was made to the independent buyers being the assessable value of goods transferred to another plant, extended period of limitation was not sustained by the Tribunal. Thus on both the counts, firstly that there came a decision explaining and clearing the doubts as to in what manner the valuation requires to be done in the event of captive consumption of goods as also in case of goods transferred to sister concern or to another factory of the same assessee and till then, board circular governed the field. And, also because from March, 2008 onwards. On regular basis, the monthly returns have been filed by the assessee respondent indicating all possible details. Thus, the Tribunal rightly turned down the demand of duty prior to the period of one year from the date of issuance of show cause notice dated 9-11-2009, holding the same to have been hit by the law of limitation. - Decided against the revenue.
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