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2016 (8) TMI 789 - AT - Central ExciseValuation - cast articles cleared to independent buyers as well as other interconnected parties, at the same assessable value - Held that:- the Larger Bench of the Tribunal in the case of Ispat Industries Ltd. vs. CCE [2007 (2) TMI 5 - CESTAT, MUMBAI] has observed that where the goods are sold to related persons as well as to independent buyers, the transaction value charged to the independent buyers shall apply in the case of supply of goods to the related person also. The said decision stand followed in the recent judgment of the Tribunal in the case of Handy Wires Pvt. Ltd. vs. Commissioner of Central Excise, Nagpur [2015 (11) TMI 1241 - CESTAT MUMBAI]. Examining an identical situation, the Tribunal observed that the goods sold to interconnected undertaking have to be assessed to duty at the same value at which the said goods are sold to independent whole sale buyers. - Decided against the Revenue
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