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2018 (11) TMI 722 - AT - Central ExciseValuation - SKO and LPG when cleared by the appellant to other OMCs for distribution in PDS - Department was of the view that the duty is required to be paid on the consideration received by the appellant from other OMCs at ZTVL - Penalty - Held that:- The concept of transaction value was introduced with the amendment to Section 4 of the Act w.e.f.01.07.2000, the new Central Excise Valuation Rules, 2000, were also notified at the relevant time. The explanation to the relevant changes were circulated vide Circular F.No.354/81/2000-TRU dated 30.06.2000. Penalty - Held that:- The issue of valuation of petroleum product was in a state of flux immediately after the introduction of changes in Section 4 of Central Excise Act, 1944 - the imposition of penalty on the appellant in this case is not justified and is set aside. Appeal allowed in part.
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