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1996 (2) TMI 145 - SC - Central ExciseWhether the value of C.F.Cs. should be included in the value of refrigerators for the purpose of value under Section 4 of the Central Excise Act? Held that:- On a consideration of the relevant circumstances mentioned supra including the fact that Godrej has paid up all amounts due accepting the contentions of the Revenue, we think that an order levying penal interest would meet the ends of justice instead of the direction for prosecution made in the impugned order. Godrej and Boyce Manufacturing Company Private Ltd. shall pay penal interest at the rate of twenty per cent per annum on all the amounts which were withheld by it, for the period commencing March 1, 1979, whether on the basis of the Order of the learned Single Judge of the Bombay High Court dated March 10, 1984 [allowing Writ Petition No. 1110/83] or otherwise as well as on the amounts which it had obtained by way of refund but which it ultimately paid back to the Revenue. The interest shall be payable for the period commencing from the date when the said amount/amounts became due and payable and ending with the last date of full payment. The observations in the nature of qualifications or reservations contained in the Order [Minutes of the Order] dated March 12, 1990, insofar as they relate to inclusion of value of C.F.Cs. in the value of refrigerators shall stand deleted. In other words, Godrej shall not dispute the inclusion of the value of C.F.Cs. in the value of refrigerators for the period covered by the demand notices impugned in Writ Petition No. 1110/83 and upto March 12, 1990, the date of "Minutes of the Order" aforesaid.
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