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2017 (2) TMI 364 - CESTAT CHENNAIValuation - sale price charged to oil marketing companies - Section 4(1)(b) of the Central Excise Act, 1944 read with provisions of Section 4(3)(b) - related party transaction or not? - Held that: - there is nothing on record to establish that the marketing companies whether in any way related to the appellant satisfying any of the elements of Section 4(3)(b) of the Central Excise Act, 1944 - In absence of any evidence to show that the buyer and seller were mutually interested to make gain at the cost of Revenue, undervaluation of clearances is inconceivable - appeal allowed - decided in favor of appellant.
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