2003 (9) TMI 572

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..... rder per : Jyoti Balasundaram, Member (J)]. The applicants herein are engaged in the manufacture of P P medicines on behalf of M/s. CFL Pharmaceuticals Ltd. and M/s. Wallace Pharmaceuticals Ltd. (loan licensee) and the goods are then transferred to the loan licensees depot as stock transfer. The department was of the view that the correct assessable value of the goods would be the selling pr .....

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..... ve been applied against them are not attracted as prima facie the transactions is covered by Section 4(1)(a) of the Act even after the amendment to Section 4, we are of the view that a strong prima facie case has been made out by the applicants. Hence, we waive the pre-deposit of duty of Rs. 59,79,217/- and penalty of equal amount and stay recovery thereof pending the appeal. - - TaxTMI - TMITa .....

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