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2015 (10) TMI 2396 - AT - Central ExciseDetermination of correct assessable value - Inclusion of commission paid and discounts given - Whether for the period prior to 1.7.2000 when the price on which the goods are generally sold is the correct assessable value or not - Held that:- As the issue has been settled by Hon ble Apex Court in the decision of Elgi Equipments Ltd. (2007 (8) TMI 20 - SUPREME COURT OF INDIA), therefore we hold that price at which goods have been ultimately sold to M/s. PDV shall be the assessable value. In these terms, demands for the period January, 1986 to August, 1987 as confirmed by way of impugned order is set aside. Further, we hold that for the period September, 1987 to November, 1988, the price at which the M/s. RMPL sold the goods to M/s. PDV is the assessable value. In these terms, we have decided the assessable value. As there were no malafide on the part of M/s. RFI for short payment of duty, the penalty is not imposable. - in this case, penalty of ₹ 25,000/- has been imposed on M/s. RMPL. As M/s. RMPL is an artificial person and in the facts of circumstances of the case, malafides against M/s. RMPL are not stand proved as they have conceded that the price at which M/s. RMPL sold the goods to M/s. PDV is the correct assessable value. - Decided in favour of assessee.
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