TMI Blog2014 (2) TMI 770X X X X Extracts X X X X X X X X Extracts X X X X ..... and radiators to the owning company for the manufacture of transformers. This indicated that there was no fraud, collusion, misstatement or suppression of facts. Besides, since the situation was revenue neutral, no intent to evade the payment of duty could be ascribed to the assessee. Once there was no intent to evade the payment of duty, the Tribunal was justified in coming to the conclusion tha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... arred and whether the penal provisions of 11AC also would not be apploicable in the present case. The issue before the Commissioner, Central Excise, Noida and in appeal before the Tribunal was whether the extended period of limitation under Section 11A (1) of the Central Excise Act, 1944 (in short the 'Act') was attracted. The assessee is owned by a company called M/s. Accurate Transformers Lt ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... formers Limited. Consequently, these clearances were liable to be treated as being made to a related person for its captive use and under Rule 9 read with Rule 8 of the Central Excise Valuation Rules, 2000, the duty was payable on 110%/115% of the cost of production whereas it was paid on a lower value. On the invocation of the extended period of limitation, the Tribunal held that the assessee had ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion, the Tribunal observed that in the present case, the situation was revenue neutral since, in the facts of the case, the entire duty paid by the assessee in respect of the clearances of MS tanks and radiators to its transformer Unit was available to the transformer unit as cenvat credit. In other words, the cenvat credit was available not to a third party buyer of the assessee's manufactured go ..... X X X X Extracts X X X X X X X X Extracts X X X X
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