TMI Blog2017 (8) TMI 696X X X X Extracts X X X X X X X X Extracts X X X X ..... ould get reduced by that amount - the matter remanded to the adjudicating authority for verification of documents, for the purpose of extending the credit to the appellant - the adjudicating authority would also examine and would re-quantify appellant's duty liability by extending the benefit of cum-duty. Penalty - Held that: - The assessee 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/285 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... adding the value of the valves supplied by the oil companies in the assessable value of the cylinders, they are entitled 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 submits that the invoices showing payment of duty on the valves were placed before the lower authorities. In case, the credit is extended ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aside the impugned order and remand the matter to the adjudicating authority for verification of documents, for the purpose of extending the credit to the appellant. 4. We also find force in the plea of the appellant that the duty is to be calculated by treating the entire consideration as cum duty. This issue stands settled by various decisions. One such reference can made to CCE vs. Maruti Udyog Limited-2002 (141) ELT 3 (SC). As the matter is being remanded, the adjudicating authority would also examine such aspect and would re-quantify appellant s duty liability by extending the benefit of cum-duty, subject to verification of records and by treating the entire consideration as cum-duty. 5. As regards penalty, we find that the duty ..... X X X X Extracts X X X X X X X X Extracts X X X X
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