TMI Blog2018 (11) TMI 719X X X X Extracts X X X X X X X X Extracts X X X X ..... t apply in a case where some part of the production is cleared to independent buyers. In the present case, GEL has been clearing the goods to the related buyers, GISCO at price comparable to the clearance to independent customers - there is no justification for adopting the value in terms of Rule 8 & 9 of the Central Excise Valuation Rules, 2000. Appeal allowed - decided in favor of appellant. - Ex.Appeal Nos.157,158/09 - FO/A/76759-76760/2018 - Dated:- 27-9-2018 - SHRI P.K.CHOUDHARY, MEMBER (JUDICIAL) AND SHRI V. PADMANABHAN, MEMBER (TECHNICAL) Shri B. N. Chattopadhyay, Consultant for the Appellant (s) Shri S. S. Chattopadhyay, Supdt. (AR) for the Revenue ORDER The present two appeals have been filed against th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pugned order by upholding the duty demand along with interest and imposition of penalty both on GEL as well as GISCO. Challenging the impugned order, the present two appeals have been filed. 3. The appellant is represented by Shri B.N.Chattopadhyay, ld. consultant and Revenue is represented by Shri S.S.Chattopadhyay, Ld. D.R, ld. D.R. 4. The submissions made on behalf of the appellants are summarized below : (i) Both the Companies, viz. GEL GISCO may be considered as related persons in terms of Section 4(3)(d) of the Act. It is on record that GEL has also made clearance of identical goods to independent buyers ; (ii) It is settled position of law that if the goods are partly cleared to related person and partly to independent ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ute in the present appeal is on the question of value for assessment of the goods cleared for home consumption to the related buyers, when similar goods are also sold to independent buyers. The present issue has been settled by the Larger Bench of the Tribunal in the case of Ispat Industries Ltd. (supra). The Larger Bench considered the question of valuation of the goods are sold to related parties when part of the goods were also cleared to independent buyers whether value is required to be determined after Rule 4 Rule 8 of the Central Excise Valuation Rules, 2000. The observations of Larger Bench are as follows: 9 . In view of what we have observed above, we answer the reference in the following terms : (a) the provisions o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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