TMI Blog2018 (11) TMI 623X X X X Extracts X X X X X X X X Extracts X X X X ..... pellant had a bonafide belief due to lack of clarity on legal issue and grave interpretation of Valuation Rules involved. Since the SCN involved in the present case does not involve any suppression of fact or mis-declaration on the part of appellant, the penalty under Section 11AC was clearly not warranted - appeal allowed - decided in favor of appellant. - Appeal No. C/936/2003-DB - A/12488/ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... od prior to Valuation Rules, 2000 whether the amortization cost of moulds and dyes is includable in the value of final product, therefore, the appellant had a bonofide belief that duty is not payable on amortization cost of moulds and dies supplied free of cost by the customer of final product. She further submits that present SCN was issued invoking extended period, whereas for the earlier period ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n the present case is that whether the appellant is required to include the amortization cost of moulds and dies supplied free of cost by the customer of final product. On this issue, there were conflicting judgments, therefore, in the appellant s own case for the past period matter was referred to the Larger Bench of this Tribunal. Therefore, it is fit case to view that the appellant had a bonafi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s already been appropriated against the confirmed demand. Since the SCN involved in the present case does not involve any suppression of fact or mis-declaration on the part of appellant, the penalty under Section 11AC was clearly not warranted; accordingly, we set aside the penalty and allow the appeal to this extent. (Pronounced in the open court on 01.11.2018) - - TaxTMI - TMITax - Custo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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