2000 (9) TMI 283 - AT - Central Excise

Summary

The Appellate Tribunal CEGAT in New Delhi heard appeals by Oil India Limited (O.I.L.) and Indian Oil Corporation Limited (I.O.C.) against a duty demand related to the valuation of LPG. The tribunal upheld a duty demand of Rs. 7,46,65,970/- and set aside a remaining duty demand of Rs. 9,05,95,530/-. A penalty imposed on I.O.L. under Section 11AC was set aside as it related to a period before the enactment of the section. The penalty of Rs. 5 lacs on I.O.C. was also set aside as they were operating in accordance with the administrative price mechanism.