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2018 (8) TMI 1444 - AT - Central ExciseValuation - P or P Medicaments cleared during the period July, 2002 to March, 2005 - value at which M/s PD sells the said Medicaments in the market - value of free supply of machinery, raw material and packing material is not considered - Held that:- It is specifically recorded by the adjudicating authority that the genuineness of the transaction between the respondent and the said PD is not doubted in as much there is no allegation in the show cause notice that debit notes were fake and the show cause notice has not challenged the said debit notes, a finding not effectively countered by Revenue in appeal. The adjudicating authority was correct in relying upon the agreement executed by the respondent (PD) for manufacturing of P or P Medicaments on principal to principal basis, in discharging the Central Excise duty on the value which is arrived based upon cost of production (+) profit margin as is decided by the Apex Court in the case of Pawan Biscuits [1991 (1) TMI 249 - CEGAT, NEW DELHI] - the impugned order is correct and legal - appeal dismissed - decided against appellant.
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