2003 (7) TMI 436 - AT - Central Excise

Summary

The appeal by M/s. J.K. Papers Ltd. against a duty demand of Rs. 65,731 was rejected by the Appellate Tribunal CESTAT, New Delhi. The duty demand was confirmed due to the clearance of writing and printing papers without payment of duty for export to Bangladesh. The assessable value was required to be determined based on the normal price at the time of original clearance, not the later sale price for deteriorated goods. The Tribunal upheld the lower authorities' valuation in accordance with Section 4 of the Central Excise Act, stating that subsequent events like deterioration and depreciation are not relevant for determining assessable value. The appeal was deemed to have no merit and was rejected.