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2018 (1) TMI 262 - AT - Central ExciseValuation - brass scrap - Whether in the facts and circumstances of the case, the charge of under valuation is sustainable against the respondent or not? - Held that: - the respondent has suffered duty on the finished goods, the job charges are not disputed by the revenue and all the brass scrap sent to the job worker have been received by the respondent after conversion into the brass rods, in that circumstance, it is situation of revenue neutrality and there is no loss of revenue to the department. In that circumstance, the charge of undervaluation is not sustainable against the respondent. Extended period of limitation - Held that: - the respondents were filing their RT 12 returns regularly and maintaining statutory records - the activity of selling brass scrap at a lower price than the value shown in the balance sheet was well known to the department - extended period not invocable. Appeal dismissed - decided against Revenue.
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