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2019 (9) TMI 1521 - CESTAT KOLKATAValuation - inclusion of value of discount in the assessable value - transaction value of the inputs were determined by reducing 1.9% from the price of the inputs which was payable by the said assessee to the bank - time limitation - HELD THAT:- In the case of INDIA PISTONS LTD. VERSUS COMMISSIONER OF C. EX., CHENNAI [2007 (9) TMI 89 - CESTAT, CHENNAI] the Tribunal while considering a similar issue in the context of inclusion of 1.9% discount in the value of the raw material supplied to TML held that the interest received from the buyer of the goods by their bankers was not to be included in the assessable value of the goods purchased by them from the assessee. In the present case, the SCN issued to the Appellants proceeds on the basis that the transaction value of the raw materials/inputs should be inclusive of 1.9% discount and therefore, the assessable value of the Axles should be re-determined. When the Commissioner dropped the proceedings initiated against the manufacturer of raw material received by the petitioners, on the very same issue of determination of assessable value of such raw material, the present proceedings initiated against the Appellants on the basis that the value of raw material should be enhanced by the very same discount of 1.9% cannot be confirmed. Time Limitation - HELD THAT:- The entire exercise was revenue neutral inasmuch the differential duty if any, payable, was available as CENVAT Credit to TML. Therefore, there is no question of any suppression with an intent to evade payment of duty. Consequently, the extended period of limitation has been erroneously invoked. Appeal allowed - decided in favor of appellant.
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