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2017 (8) TMI 696 - AT - Central ExciseValuation - valves supplied by the oil companies - Revenue entertained a view that the value of valves is to be added in the value of domestic gas cylinders in which case the assessable value of cylinder would go high - whether the appellant is entitled to benefit of credit of duty paid on the valves or not? - Held that: - the issue no more res integra and stands settled by various decisions of the Supreme Court followed by the Tribunal and as such the benefit has to be extended, subject to verification of the records - the credit of duty paid on valves used in the cylinders is required to be extended to the appellant and the duty on final product would get reduced by that amount - the matter remanded to the adjudicating authority for verification of documents, for the purpose of extending the credit to the appellant - the adjudicating authority would also examine and would re-quantify appellant's duty liability by extending the benefit of cum-duty. Penalty - Held that: - The assessee is under bonafide belief that the value of valves supplied by the oil companies free of cost, is not required to be taken into consideration. There is no malafide on the part of the assessee pointed out by the Revenue. The dispute relates to bonafide interpretation of the provisions of law - penalty not imposable. Appeal allowed in part and part matter allowed by way of remand.
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