Home Case Index All Cases Central Excise Central Excise + AT Central Excise - 2017 (2) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2017 (2) TMI 835 - AT - Central ExciseValuation - rejection of transaction value - related party transaction - Held that: - The various public sector units including OMCs are mandated by the Central Vigilance Commissioner to adopt the open tender procedure for procurement of goods. Such procedure is mandated with the objective of transparency in procurement and the possibility of lowest price discovery by open competition. Since the price of procurement of PIB for supply to BPCL has been decided by such an open tender procedure, it cannot be said that the transaction value has been influenced by the relationship between KRL and BPCL - From the chart submitted by KRL, it is seen that KRL has supplied the same product PIB not only to BPCL but also to other OMCs such as IOCL, HPCL, IBP, etc. During the disputed period, the product has been supplied at the same price to various other OMCs as for BPCL. Appeal allowed - decided in favor of assessee.
|