2003 (7) TMI 332 - AT - Central Excise

Summary

The Appellate Tribunal CESTAT, Mumbai ruled in favor of the assessee, Kopran Ltd., in a case involving the sale of pharmaceutical products at prices exceeding the maximum retail price fixed by law. The Tribunal held that the assessable value should be based on the price fixed in the Drug (Price Control) Order, not the actual price paid. As a result, there was no duty evasion, and the penalty on the assessee and its employees was set aside. The appeals were allowed, and the impugned order was overturned.