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TMI Blog2011 (2) TMI 592X X X X Extracts X X X X X X X X Extracts X X X X ..... ch are deemed appropriate to safeguard the interest of the Revenue - Held that: the appellant has made out a prima facie case for waiver of pre-deposit of duty, interest and penalty - Decided in favor of the assessee - E/414/2009-Mum - S/150/2011-WZB/C-II/(EB) - Dated:- 21-2-2011 - S/Shri M.V. Ravindran, P.R. Chandrasekharan, JJ. REPRESENTED BY :Ms. Charanya Laxmikumaran, Advocate, for the Appellant. Shri K.M. Mondal, Spl. Counsel, for the Respondent. [Order per : M.V. Ravindran, Member (J)]. The stay application is filed by the applicant for waiver of pre-deposit of the following amounts :- (a) Rs. 3,57,36,670/- as central excise duty (b) Interest thereof (c) Equivalent amount of penalty under Section ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r payment of sale tax on the sale of their goods for a period not less than 10 years and permitted to pay the same after the expiry of the 10th year. Due to amendment to Section 38(4) of the Bombay Sales Tax Act, premature payment of the amount of deferred sales tax was given to the units. It is his submission that the definition transaction value post 1-7-2000, would bring into play only that part of Sales Tax, if any, are actually paid or payable. He would submit that the Board s Circular dated 30th June 2000 clarified various issues and one of the issues regarding abatement of sales tax average tax actually paid by the assessee. He drew our attention to the clarification given by the Board that as per definition of transaction value ta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... has been relied upon by the assessee is in jeopardy the Revenue s interest should be taken care. He would also relied on the decision of the Hon ble Supreme Court in the case of Benara Valves Ltd. v. CCE - 2006 (204) E.L.T. 513 (S.C.) = 2008 (12) S.T.R. 104 (S.C.). He would drew our attention to paragraphs 8, 11, 13, 14 and 15 and emphasis that while during the application for stay petition, such condition to be imposed which are deemed appropriate to safeguard the interest of the Revenue. 6. We have considered the submissions made at length by both the sides. 7. At the outset we find that it is not in dispute that the amount on which the Revenue wants to collect excise duty is a sales tax collected by the appellant from their customer ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... erest, are considered as in discharge of deferred balance Sales Tax, if any, on that day. In our considered view the appellant has made out a prima facie case as it is on records that the amount that is collected is nothing but sales tax as provided under the Bombay Sales Tax Act, 1959. If that be so the definition of transaction value as under Section 4 will get attracted, as the said definition indicate exclusion of sales tax actually paid or payable. 9. The reliance placed by the learned Special Counsel for revenue on the judgment of Modipan Fibre Company (supra) may not carry the case of revenue any further, as the facts in that case were different than the facts in this case. It is also to record that the apex court in the judgemnt o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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