2008 (12) TMI 628

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..... e Respondent. [Order per : Jyoti Balasundaram, Vice-President]. - We have heard both sides on the application for waiver of pre-deposit of duty of Rs. 11,54,234/- together with interest and penalty of equal amount imposed upon the first applicant, M/s Sudershan Castings Pvt. Ltd. and penalties of Rs. 50,000/- each on M/s Sudershan Steels Pvt. Ltd.; M/s Trikuta Steels Rolling Mills; and Mr. Suders .....

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..... s not only to M/s. Trikuta Steels Rolling Mills but also to independent buyers at the same price as seen from Annexure 1 to the Written Submissions filed before the Commissioner, in addition to their reply dated 4-6-2007. In the year 2005-06, the quantity sold to related persons was 18540.695 MTs and the quantity sold to other buyers like M/s K.S. Profiles; M/s Kashmir Udyog and others, and in the .....

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..... the case of Ispat Indus. Ltd. v. CCE, Raigad, 2007 (209) E.L.T. 185 (T-LB), the Larger Bench of the Tribunal has held that Rule 8 of the Central Excise Valuation Rules, 2000 will apply only when the entire production of a particular commodity is captively consumed, and in the present case since the entire production is not sold only to the related party but part of the production has also been so .....

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