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TMI Blog2011 (1) TMI 997X X X X Extracts X X X X X X X X Extracts X X X X ..... ds cleared by the respondents. As the challans and invoices on which M/s.Bajaj Auto Ltd., had supplied the moulds and dies to the respondents in free of cost on loan basis was on record during the course of audit before the audit party & when the audit party has not taken any objection for non-inclusion of the amortized cost of moulds and dies in the assessable value by the respondents, allegation of suppression does not survive as held by the lower appellate authority - It is the duty of the audit party to audit the records and to point out the discrepancies found out during the course of audit - Decided in favor of the assessee. X X X X Extracts X X X X X X X X Extracts X X X X ..... course of audit it came to the knowledge of the audit party that the respondents have not amortized the cost of moulds and dies in the assessable value of the parts cleared by them after process to M/s. Bajaj Auto Ltd. A show-cause notice has been issued on 08/11/2000, which is after more than one year of the inspection in most of the cases except in three cases where the demand was confirmed. He submitted that now in self removal procedure, the assesses have to inform the department about their activities and all the information regarding valuation, manufacturing and clearances of their goods to the department in advance. From the statements of the respondents, it is clear that the fact of amortized cost of moulds and dies have not been in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... udit party never raised any objection for non-inclusion of amortized cost of moulds and dies in the assessable value of the goods cleared by them. It is also evident from the audit report brought on record by the lower appellate authority that during the course of audit, the following documents were scrutinized viz., (a) purchase orders issued on the respondents by M/s.Bajaj Auto Ltd., (b) Challans and invoices issued by M/s.Bajaj Auto Ltd., under the cover of which the moulds and dies were sent to the respondents and (c) invoices issued by the respondents under Rule 52A under the cover of which the goods manufactured by them were sent to M/s.Bajaj Auto Ltd. We further find that the challans and invoices on which M/s.Bajaj Auto Ltd., ha ..... X X X X Extracts X X X X X X X X Extracts X X X X
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