2001 (3) TMI 426 - AT - Central Excise

Summary

The Appellate Tribunal CEGAT, New Delhi overturned a duty demand of Rs. 13,444 and a penalty of Rs. 2,000 imposed on the appellants for the valuation of steel items. The Tribunal ruled that different sale prices to buyers in different locations should be accepted for assessment, as each price represented a commercial value. The decision was based on the principle established in the case of CCE, Chandigarh v. Taparia Tools Ltd., where varying prices were deemed valid for valuation. The duty demand and penalty were deemed legally unsustainable and were set aside.