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2017 (5) TMI 1386 - CESTAT BANGALOREValuation - the appellant was clearing their final products on payment of duty to their depot at Navi Mumbai for onward sale to the wholesale dealers - Held that: - For determining assessable value in such cases, the CBEC has also issued a Circular No.251/85/96-CX dt. 14/10/1996 wherein it was clarified that the price prevailing at the depot on the day of clearance from the factory is to be taken as the assessable value and in such case, if the price is not available, then the price at the time nearest to the time of removal of the goods is to be taken as assessable value - demand attributable to those invoices whose date taken by the Department is subsequent to the date of clearance from the factory cannot be sustained. Consequently, we are constrained to set aside demand amounting to ₹ 14,61,527/-. Extended period of limitation - Held that: - while submitting the details of depot invoices where refund was admissible, they have concealed the details of clearances in respect of which depot price sale was higher than the stock transfer value - also, appellant has failed to mention the fact that they were adopting the price listed in their website and the fact came to the notice only when the Departmental officers visited the factory and carried out investigations - the demand does not merit setting aside on the ground of time bar. Penalty - Held that: - The controversy in the present case is pertaining to the period immediately after commencement of manufacture by the appellant in their Bangalore factory. Consequently, we are of the view that there is no justification for imposition of penalty on the appellant and hence the same is set aside. The demand is upheld to the extent of ₹ 22,61,058/-. The balance of demand amounting to ₹ 14,61,527/- is set aside. The amount of demand already paid by the appellant is liable to be appropriated - Interest will be liable to be paid at the applicable rate - Penalty imposed is set aside - appeal allowed - decided partly in favor of assessee.
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