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2014 (10) TMI 121 - AT - Central ExciseExtended period of limitation - Valuation - what should be the value of polyamide chips manufactured by them which have been used captively in the manufacture of final product i.e. polyester filament yarn when they have also purchased polyamide chips from the open market - Held that:- Valuation Rules clearly state that if the comparable price is available, in that situation the valuation is to be opted by invoking Rule 6(b)(i) of the Valuation Rules, not as per Rule 6 (b)(ii). As the issue is that whether Rule 6 (b)(i) is applicable to the facts of this case or Rule 6(b) (ii) of the Valuation Rules is applicable to this case, therefore we hold that the extended period of limitation is not invokable - whole of the demand has been confirmed against the appellant by invoking the extended period of limitation. In these circumstances, we hold that the issue or interpreting particular provisions of the Rules. Therefore, the extended period of limitation is not invokable. As extended period is not invokable, therefore the impugned demands are not sustainable. Accordingly, the impugned order is set aside and appeal is allowed with consequential relief if any - Decided in favour of assessee.
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