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2018 (2) TMI 358 - AT - Central ExciseValuation - Polyester Chips of Amorphous Grade (PCAG) with less than 2% IPA content - related party transaction - Held that: - the appellants are correct in contending that transaction between related persons can be rejected only if it does not closely proximate to the value of similar goods, to non-related persons - the Commissioner (Appeals) has accepted transaction value of 2 MTS of 40% IPA AGC, which is an acceptance that the relationship has not influenced the transaction value. The one-time clearance of a very small quantity of AGC, that too of a strength of 20 times the normal IPA strength normally cleared to them cannot be translated into the notional transaction value for other predominant clearances of 2% strength AGC - the adoption of value of ₹ 48.14 per kg. to revise declared values of sub-standard and normal 2% IPA AGC is arbitrary and cannot be sustained - appeal allowed - decided in favor of appellant.
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