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2015 (10) TMI 2065 - CESTAT NEW DELHIValuation - Inclusion of amount of sales tax retained - Held that:- During the relevant period there was CBEC Circular dated 30.06.2000 which provides that any amount of concession on sales tax retained by the respondent is not required to be added in the assessable value and there are certain judicial pronouncements of this Tribunal holding the same view in the case of Kinetic Engineering Ltd. (2012 (6) TMI 168 - CESTAT, MUMBAI) and Life Long India Pvt. Ltd. Vs. CCE Delhi-[2012 (3) TMI 349 - CESTAT NEW DELHI]. As there were view taken by the CBEC Circular and this Tribunal in favour of the respondent which has been negated by the Hon'ble Apex Court in the decision cited before us today. In these circumstances, we hold that extended period of limitation is not invokable. Consequently, demand pertaining to the extended period of limitation which is sought to be demanded from the respondent are set aside. Consequently, the penalties on the respondents are not imposable. - Matter remanded back - Decided in favour of assessee.
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