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2016 (2) TMI 105

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..... 15% as profit margin Levy of penalty - Held that:- Since the issue of valuation of physician sample was being litigated during the relevant period, we're of the firm view that there is no necessity to visit the appellant with any penalty. Accordingly, penalty imposed by the lower authorities are set aside. - Appeal No. E/298/07 - A/85113/16/EB - Dated:- 4-12-2015 - M V Ravindran, Member (J) .....

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..... ian samples of medicines. 5. Both sides agree that the issue is no more res integra as the Supreme Court in the case of Biochem Pharmaceuticals Ind. Ltd., 2015 (322) ELT 808 (SC) has held that the valuation of physician samples given free of cost, needs to be valued on the basis of cost of production or manufacture of goods i.e. Cost of production + 15%. Accordingly, the appeal is disposed of h .....

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