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TMI Blog2011 (6) TMI 63X X X X Extracts X X X X X X X X Extracts X X X X ..... ds were being sold by them to other independent buyers - If the appellants would have paid higher duty, their sister unit would have availed the higher credit, in which case, the entire exercise would be Revenue neutral - show cause notice issued in 2004 for the period 2000 to 2002 is also barred by limitation - Decided in the favour of assessee - E/3048 of 2006 - A/1198/2011-WZB/AHD - Dated:- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aid by the appellants on transaction value, which was more or less equivalent to sale price of the said goods to independent buyers. 2. Revenue entertained a view that inasmuch as the sale was being made by appellants to their sister unit, the assessable value is required to be determined in terms of the Section 4(i) (b) of Central Excise Act, 1944, read with Rule 8 of erstwhile Central Excise ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd imposition of penalty in respect of the appellant. However, he set-aside the penalty imposed on Shri Hemant C. Desai. Hence the present appeal. 5. After carefully going through the submissions made by both the sides, we find that the issue is no more res-integra and stands settled by the Larger Bench decision of the Tribunal in the case of Ispat Industries Limited vs. CCE, Raigad 2007 (209) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sister unit. If the appellants would have paid higher duty, their sister unit would have availed the higher credit, in which case, the entire exercise would be Revenue neutral. We are informed by the learned advocate that their sister unit was paying duty out of PLA to the tune of more than Rs. One Crore. As such, they were admittedly in a position to utilise the credit, so available to them, on a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... al, in which case duty confirmation was not justified. We may also note that the Tribunal decision in the case of Indeos ABS Limited, setting aside the demand on the point of Revenue neutrality, stands approved by the Hon'ble Gujarat High Court, as reported in 2010 (254) ELT 628 (Guj.), when the appeal filed by the Commissioner against the said order of the Tribunal was rejected by the Hon'ble Hig ..... X X X X Extracts X X X X X X X X Extracts X X X X
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