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2016 (8) TMI 789 - CESTAT NEW DELHI

2016 (8) TMI 789 - CESTAT NEW DELHI - TMI - Valuation - cast articles cleared to independent buyers as well as other interconnected parties, at the same assessable value - Held that:- the Larger Bench of the Tribunal in the case of Ispat Industries Ltd. vs. CCE [2007 (2) TMI 5 - CESTAT, MUMBAI] has observed that where the goods are sold to related persons as well as to independent buyers, the transaction value charged to the independent buyers shall apply in the case of supply of goods to the re .....

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RDER NO . 52243 /2016 - Dated:- 23-6-2016 - Ms Archana Wadhwa, Member (Judicial) and Mr. V Padmanabhan, Member (Technical) Shri R K Manjhi, AR for the Appellants Shri Manish Saharan, Advocate for the Respondent ORDER Being aggrieved with the order passed by Commissioner (Appeals), Revenue has preferred the present appeal. 2. Having heard both sides duly represented by Shri R K Manjhi, learned DR appearing for the Revenue and Shri Manish Saharan, learned advocate for the respondent assessee, we f .....

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y was confirmed along with imposition of penalty. 3. On appeal against the said order, Commissioner (Appeals) hold in favour of the assessee by observing that interconnected undertakings are also to be first established as related parties and by referring to the Board Circular No. 643/34/2002 CX dated 1.7.2002, he observed that Rule 9 cannot be applied in such a situation. He also observed that the appellant was selling their product to independent wholesale buyers at the same price, in which ca .....

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