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TMI Blog2024 (2) TMI 247X X X X Extracts X X X X X X X X Extracts X X X X ..... AL) AND MR. A.K. JYOTISHI, MEMBER (TECHNICAL) Shri P.V.B. Chary, Advocate for the Appellant. Shri Pradeep Saxena & Shri K. Srinivas Reddy, ARs for the Respondent. ORDER Issue in these Appeals is with regard to valuation of the goods, wherein the Appellant Assessee have cleared kraft paper to their sister concern, and also to independent buyer during the period April 2006 to September 2012. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e assessee or on his behalf in the production or manufacture of other articles, the value shall be determined at 110% / 115% of the cost of production. Whereas Rule 4 provides "the value of the excisable goods shall be based on the value of such goods sold by the assessee for delivery at any other time nearest to the time of removal of goods under assessment". 5. The Larger Bench have held in the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h Court in the case of CCE, Bhavnagar Vs Ultra Tech Cement Pvt Ltd., [2014 (302) ELT 334 (Guj)] wherein similar issue was involved. Gujarat High Court has been pleased to confirm the findings of Larger Bench of this Tribunal in Ispat Industries Ltd., (supra). 7. Learned AR for Revenue relies on the impugned order and also relies on the Board Circular No. 643/34/2002-CX dated 01.07.2002. He ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Ltd., [2016 (10) TMI 1137-CESTAT, New Delhi] wherein the assessee had both clearances to sister units and independent sales. So far independent sales are concerned duty was paid on the transaction valuation and so far sister unit is concerned the assessee had paid tax under Rule 8 being 110% / 115% of the cost of production. The case of Revenue was that the assessee should pay on the transaction ..... X X X X Extracts X X X X X X X X Extracts X X X X
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