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2017 (1) TMI 370 - CESTAT NEW DELHIPrice escalation clause - provisional assessment in terms of Rule 7 of the Central Excise Rules, 2002 - whether, the appellant is to be considered as an “undertaking owned and managed directly by the Ministry” for the purpose of getting the benefit of non-execution of the bond and Bank Guarantee before the jurisdictional Central Excise Authorities for clearance of excisable goods on provisional basis? - Held that: - since the appellant is owned and managed by the Government of India through the Ministry of Heavy Industries and Public Enterprises, the case squarely falls under paragraph 6.1 contained in Chapter 14 of the CBEC Manual. Thus, the exemption provided therein for non-execution of Bond and payment of Bank Guarantee for clearance of goods on provisional basis should be available to the appellant - appeal allowed - decided in favor of appellant.
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