9911796707
TMI Blog2013 (11) TMI 1340X X X X Extracts X X X X X X X X Extracts X X X X ..... the Respondent : Ms. Ranjana Jha, Jt. CDR JUDGEMENT Per Ms. Archana Wadhwa (for the Bench) : We dispose of both the appeals as the issue involved is identical. After hearing both the sides, we find that the appellant is engaged in the manufacture of mild steel billets, blooms, ingots, sponge iron etc. falling under Chapter 72 of the Central Excise Tariff Act, 1985. The said goods are in the na ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n appointed Cost and Management Accountants M/s. Rakshit & Associates for conducting the special audit of the appellants account. The said Management Accountant arrived at cost of the appellants product and submitted the same to the department. A copy of the same was provided to the appellants with directions to cause appearance on 11.4.2007 along with clarifications on any objection raised by the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to independent wholesale buyers, there was no justification for adopting the value based upon the cost construction basis. They also brought it to the notice of the adjudicating authority that earlier report of the Cost Accountant, stand reviewed by them and if the review report is followed, there is no under-valuation. 4. The Commissioner did not accept the above stand of the assessee. As regard ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tside parties. The only dispute is in respect of value at which the goods are being transferred to their sister unit. The appellants have admittedly paid the duty on the value which is being adopted by them for payment of duty in respect of independent wholesale buyers. Revenue's contention is that such clearances have to be assessed to duty on the basis of cost construction. 6. Apart from the fa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... luation ) Rules, 2000 would apply only where entire production of a particular commodity is captively consumed. Inasmuch as in the present case, the appellant is partly selling their goods to independent buyers and partly transferring the same to their sister units, we are of the view that by following the Larger Bench decision of the Tribunal referred supra, the cost construction based assessable ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
