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2023 (2) TMI 772 - AT - Central ExciseLevy of penalty under Rule 26(1) of Central Excise Rules, 2002 - company was adopting the valuation as per Section 4 of Central Excise Act, 1944 whereas the department’s claim is that value should be determined in terms of Section 4A - suppression of facts with intent to evade duty or not - HELD THAT:- There is no dispute that the company M/s. JSL Industries Ltd. have been clearing their goods on payment of excise duty though valuing the goods under Section 4 and they were issuing the central excise invoices. The only dispute is that whether the goods should be valued under Section 4 or Section 4A. The company’s stand was that they were supplying goods to industries therefore, they were under belief that goods should be valued under Section 4 - There are no mala fide intention on the part of these appellants. The penalty is set aside - appeal allowed.
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