2006 (1) TMI 592 - SCH - Central Excise

Summary

The Supreme Court held that there was no siphoning of extra amount to refinery by oil companies, as per the impugned order of the Appellate Tribunal. The Tribunal rejected the Revenue's plea that the agreement between the refinery and oil companies did not reflect the true transaction value, stating it was for mutual interest and to reduce transportation costs as directed by the Government of India.