TMI Blog2008 (4) TMI 632X X X X Extracts X X X X X X X X Extracts X X X X ..... 092 & 2419/2006 - A/360-361/2008-WZB/C-I/(EB) - Dated:- 1-4-2008 - Ms. Jyoti Balasundaram, Shri A.K. Srivastava, JJ. REPRESENTED BY : Shri M.H. Patil, Advocate, for the Appellant. Shri R.B. Tiwari, Jt. CDR, for the Respondent. [Order per : A.K. Srivastava, Member (T)]. - These appeals have been filed by M/s. Indian Oil Corporation Ltd. against the Order-in-Appeal No. GOA/CEX/SNS/ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed to the assessable value to depot/dealer of M/s. Indian Oil Corporation Ltd. The Deputy Commissioner felt that the clearances of the petroleum products under the oil exchange arrangements is not a transaction in terms of clause (a) of Section 4(1) of the Central Excise Act, 1944 as there is no sale of excisable goods. Accordingly, he held that the value charged to their own depots/dealers (which ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... re not entitled to the refund. 6. We have examined the position. As regards the rejection of refund claims on the first ground is concerned, we observe that the Tribunal in the case of M/s. Hindustan Petroleum Corporation Ltd v CCE, Visakhapatnam. I reported in 2005 (187) E.L.T. 479 (Tri.-Bang.) has accepted the assessee s contention that the transaction value is the price at which the assessee ..... X X X X Extracts X X X X X X X X Extracts X X X X
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