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TMI Blog2014 (2) TMI 770X X X X Extracts X X X X X X X X Extracts X X X X ..... scrutiny had been made by the Range Officer of the ER-1 returns, that would have revealed that the assessee had cleared its MS tanks and radiators to the owning company for the manufacture of transformers. This indicated that there was no fraud, collusion, misstatement or suppression of facts. Besides, since the situation was revenue neutral, no intent to evade the payment of duty could be ascribe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nvokable and as such, the entire duty demanded is time barred and whether the penal provisions of 11AC also would not be apploicable in the present case. The issue before the Commissioner, Central Excise, Noida and in appeal before the Tribunal was whether the extended period of limitation under Section 11A (1) of the Central Excise Act, 1944 (in short the 'Act') was attracted. The assessee is o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e entire stock was transferred to M/s. Accurate Transformers Limited. Consequently, these clearances were liable to be treated as being made to a related person for its captive use and under Rule 9 read with Rule 8 of the Central Excise Valuation Rules, 2000, the duty was payable on 110%/115% of the cost of production whereas it was paid on a lower value. On the invocation of the extended period o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... invoking the extended period of limitation. In addition, the Tribunal observed that in the present case, the situation was revenue neutral since, in the facts of the case, the entire duty paid by the assessee in respect of the clearances of MS tanks and radiators to its transformer Unit was available to the transformer unit as cenvat credit. In other words, the cenvat credit was available not to ..... X X X X Extracts X X X X X X X X Extracts X X X X
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