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2017 (1) TMI 459 - AT - Central ExciseValuation - value of free supply of rails to be included in assessable value or not? - benefit of N/N. 5/2006-C.E was taken away by N/N. 12/2012-C.E., dated 17-3-2012 and again was restored by N/N. 03/2014-C.E - now the question is whether the 2012 Notification will have retrospective effect or not and the penalty to be imposed u/s 11AC(1)(b) of the Central Excise Act, 1944 on assessee or not? Held that: - Section 102 of Finance Bill, 2015 read with Third Schedule provided that the 2012 Notification shall have retrospective effect inasmuch as it would apply during the intervening period, i.e., from 17-3-2012 to 2-2-2014 - decided in favor of appellant.
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