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2017 (2) TMI 1143 - AT - Central ExciseValuation - related party transaction - Held that: - the respondents were not clearing their entire production to the Gear Division of their own Company or to their sister concern M/s Sadhu Overseas - the respondents were also selling the goods (more than 65% their production) to independent buyers such as M/s Maruti Udyog Ltd. etc. In this background, we find that the Commissioner (Appeals) has correctly applied the decision of the Larger Bench of the Hon’ble Tribunal in the case of M/s Ispat Industries Vs. CCE, Raigad [2007 (2) TMI 5 - CESTAT, MUMBAI], wherein the Hon’ble Tribunal held that The provision of rule 4 are in any case to be preferred over the provisions of Rule 8 not only for the reason that they occur first in the sequential order of the Valuation Rules but also for the reason that in a case where both the rules are applicable, the application of rule 4 will lead to a determination of value which will be more consistent and in accordance with the parent statutory provisions of Section 4 of the Central Excise Act, 1944 - appeal dismissed - decided against Revenue.
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