TMI Blog2008 (7) TMI 776X X X X Extracts X X X X X X X X Extracts X X X X ..... . [Order per : Archana Wadhwa, Member (J) (for the Bench)]. The prayer in the application is to dispense with the condition of pre-deposit of duty amount of Rs. 67,71,696/- along with personal penalty of identical amount, which stands confirmed and imposed on the allegation and findings that the clearance made by the appellant to their inter-connected undertaking was on the lower price t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... they cannot be termed to be related person in terms of Section 4 Explanation. As such, submits the learned Advocate that provision of Rule 10 or any other Rule of Valuation Rules, cannot be invoked against them and the transaction value in terms of main Section 4 is required to be adopted as the assessable value. In these circumstances, he prays that unconditional stay be granted. 2. Countering ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ough the independent wholesale buyers and as such, strictly speaking, Rule 10 will not apply. Admittedly, inter-connected undertaking would fall within the definition of related persons under Section 4 of the Act, in which case, the provision of Central Excise Valuation Rules would apply. We find that Rule 4, in such circumstances, mandates adopting of the value of such goods sold by the assessee ..... X X X X Extracts X X X X X X X X Extracts X X X X
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