2016 (4) TMI 929 - SCH - Central Excise

Appellant submitted that Tribunal, while disposing of the appeal(s) before it, has not decided Tribunal has only decided the issue regarding classification of LABFS and LARO manufactured by IOCL that these products will also be classified under CETH 2710.29, reported in 2015 (7) TMI 461 - CESTAT AHMEDABAD . but failed to decide two more issues viz. (i) Applicability of Notification No. 29/89-C.E., dated 1-3-1989 and duty computation on that basis; and (ii) Legality of penalty of ₹ 36,00,00,000/- (Rupees thirty six crores only) under Rule 173-Q of the Central Excise Rules, 1944, therefore the appellant is permitted to approach the Tribunal by filing a Review Petition before it. - Apex Court disposed off the appeal

Summary

The Supreme Court allowed Indian Oil Corporation Ltd. to file a Review Petition before the Tribunal regarding two unresolved issues in the appeal. The Tribunal was requested to decide on the applicability of Notification No. 29/89-C.E. and the legality of a penalty of Rs. 36,00,00,000 under Rule 173-Q of the Central Excise Rules, 1944 without considering the period of limitation.