2007 (6) TMI 397

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..... [Order per : P.G. Chacko, Member (J)]. In the impugned order, ld. Commissioner (Appeals) has affirmed demand of duty of Rs. 58,560/- for the period 13-9-2002 to 7-7-2004 and a similar demand of duty of Rs. 35,512/- for the period September 2004 to July 2005 against the appellants and has also sustained penalties on them for the two periods. 2. After examining the records and hearing bo .....

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..... lower authorities gets support from the Tribunal s decision in Jay Engineering Works Ltd. v. Commissioner, 1997 (93) E.L.T. 492 upheld by the Supreme Court vide 2000 (115) E.L.T. A77 (S.C.). Ld. Counsel has cited Tribunal s decision in Lloyds Steels Industries Ltd. v. Commissioner, 2004 (163) E.L.T. 128 (T), wherein similar sale proceeds were held to be not includible in the assessable value of th .....

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