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M/s. Krishna Cylinders Versus CCE, Panchkula

Valuation - valves supplied by the oil companies - Revenue entertained a view that the value of valves is to be added in the value of domestic gas cylinders in which case the assessable value of cylinder would go high - whether the appellant is entitled to benefit of credit of duty paid on the valves or not? - Held that: - the issue no more res integra and stands settled by various decisions of the Supreme Court followed by the Tribunal and as such the benefit has to be extended, subject to veri .....

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essee is under bonafide belief that the value of valves supplied by the oil companies free of cost, is not required to be taken into consideration. There is no malafide on the part of the assessee pointed out by the Revenue. The dispute relates to bonafide interpretation of the provisions of law - penalty not imposable. - Appeal allowed in part and part matter allowed by way of remand. - Appeal Nos. E/2854/2007 - Final Order No. 61497/2017 - Dated:- 11-7-2017 - Ms. Archana Wadhwa, Member (Ju .....

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LPG valves to be used in the gas cylinders, free of cost. The Revenue entertained a view that the value of said valves is to be added in the value of domestic gas cylinders in which case the assessable value of cylinder would go high. Accordingly, proceedings were initiated against them by way of issuance of show cause notice dated 10.5.2005 raising the demand of duty to the tune of ₹ 22,94,361/- for the period April, 2003 to March, 2004, by invoking the longer period of limitation. The no .....

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itled to take credit of duty paid on such valves. He submits that since the valves were supplied by the oil companies free of cost, they were under bonafide belief that the value of valve is not to be added in the value of cylinders. As such, neither the credit was being availed by them nor the duty was paid on higher assessable value. He submits that in the case of subsequent demands of the higher duty, the credit would become available to the assessee in respect of various raw materials. He su .....

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othe issues is not being challenged by them as the amount is less. 3. After hearing the learned AR, we note that the only issue required to be decided by us is as to whether the appellant is entitled to benefit of credit of duty paid on the valves or not. Ld.AR submits that the credit is not available to them as they were not paying duty on the final products by including the value of valves supplied by the oil companies. We note that the demand was raised subsequently and as such the credit of .....

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