TMI Blog2013 (11) TMI 1563X X X X Extracts X X X X X X X X Extracts X X X X ..... This is an application seeking waiver of duty of ₹ 29,60,111/- and penalty of ₹ 5,000/- imposed under Rule 27 of the Central Excise Rules, 2002. 2. At the outset. ld. Advocate appearing for the Applicant has submitted that the Applicant is engaged in the manufacture of lubricating oils of different grades falling under Chapter Heading 27 of the Central Excise Tariff Act, 1985 an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ubmitted that they have resorted to taking the cost of production for the previous quarters, as it is not possible to ascertain the actual cost of production for a particular quarter prevailing in that quarter only. It is stated that the Department in the show cause notice only selected certain grades where the actual cost was higher than the cost during the relevant period, but ignored the other ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he buyer of goods are not related and the price is the sole consideration for the sale, be the transaction value. It is thus evident from the above that the value is to be determined with reference to the value prevailing for delivery at the time of place of removal. In any other case, the value be determined in such manners, as may be prescribed. Central Excise Valuation (Determination of Price ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... request the jurisdictional Assistant Commissioner of Central Excise or Deputy Commissioner of Central Excises, as the case may be, not writing/giving reasons for payment of duty on provisional basis. However, in this case, the assessee has not done so, in spite of their inability to determine the correct value. Rule 7 also provides that in case of excess payment, the assessee is entitled to a refu ..... X X X X Extracts X X X X X X X X Extracts X X X X
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