2009 (1) TMI 716

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..... The appeal of the Revenue in the instant case is for the imposition of the equivalent penalty of Rs. 89,942/- on the respondent-assessee. The Assessee has already paid the duty of Rs. 89,942/- together with interest. 2. Heard both the sides and perused the records. 3. I find that in this case, the assessee have cleared the physician s samples free by paying duty on the assessable value ar .....

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..... ly, yet it is a fact that the method of valuation adopted by the assessee as per earlier Circular dated 1-7-2002 even after issuance of the amending Circular dated 25-4-2005 was not disputed by the Department till the decision of the Bombay High Court. 4. Therefore, it cannot be said that the practice of valuation adopted by the assessee was mala fide or with intention to evade payment of duty. .....

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