TMI Blog2017 (4) TMI 797X X X X Extracts X X X X X X X X Extracts X X X X ..... tification for considering the value of crude oil as reflected in the balance sheet for the year 2003-04, in extending the benefit of N/N. 8/2003-C.E. dated 1.3.03, as amended to the appellant for their manufactured goods for the period April 2004 to December 2004 - appeal dismissed - decided against Revenue. - Central Excise Appeal No.1147 of 2008 - Final Order No. A/10731/2017 - Dated:- 28-3-20 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... payment of duty of ₹ 11,82,868/-, a show cause-cum-demand notice was issued on 8.7.2005 for recovery of the said amount along with interest and proposal for penalty. On adjudication, the demand was confirmed with interest and equal amount of penalty. Aggrieved by the said order, the Respondent filed an appeal before the ld. Commissioner (Appeals), who in turn, set aside the impugned or ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... escribed under Section 3 of the CEA, 1944, is not satisfied. Accordingly, the value of crude oil cannot be added to the total value of manufactured exempted goods to determine eligibility under Notification No.08/2003. 4. Th ld. Advocate for the Respondent, on the other hand, submitted that as per the Production Sharing Contract, the producer of crude oil is M/s NIKO Resources , Canada, and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cts is M/s NIKO Resources, Canada as mentioned under Article 6.2 of the said contract entered into between the Respondent, the Government of India and M/s NIKO Resources, Canada. In other words M/s NIKO Resources is the producer of the crude Oil. Therefore, we do not see any justification for considering the value of crude oil as reflected in the balance sheet for the year 2003-04, in extending ..... X X X X Extracts X X X X X X X X Extracts X X X X
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