2008 (4) TMI 632

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..... e since the assessable value on the day of clearance is the correct assessable value on which the correct duty has been paid
Ms. Jyoti Balasundaram, Shri A.K. Srivastava, JJ. REPRESENTED BY : Shri M.H. Patil, Advocate, for the Appellant. Shri R.B. Tiwari, Jt. CDR, for the Respondent. [Order per : A.K. Srivastava, Member (T)]. - These appeals have been filed by M/s. Indian Oil Corporation L .....

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..... other oil companies, the assessable value is less as compared to the assessable value to depot/dealer of M/s. Indian Oil Corporation Ltd. The Deputy Commissioner felt that the clearances of the petroleum products under the oil exchange arrangements is not a transaction in terms of clause (a) of Section 4(1) of the Central Excise Act, 1944 as there is no sale of excisable goods. Accordingly, he he .....

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..... Ltd. reported in 2004 (172) E.L.T. 145 (S.C.). the appellants are not entitled to the refund. 6. We have examined the position. As regards the rejection of refund claims on the first ground is concerned, we observe that the Tribunal in the case of M/s. Hindustan Petroleum Corporation Ltd v CCE, Visakhapatnam. I reported in 2005 (187) E.L.T. 479 (Tri.-Bang.) has accepted the assessee's conte .....

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