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TMI Blog2014 (10) TMI 160X X X X Extracts X X X X X X X X Extracts X X X X ..... ection 4(1)(d) of the Central Excise Act, 1944 - Held that:- It is seen from the order of the Commissioner (Appeals) that the amount of ₹ 4.30 crores was repaid and adjusted by the applicant in the subsequent clearance to M/s. Mando India Steering Systems. Prima facie, we find that the applicant is not the beneficiary of ₹ 4.30 crores - debit notes has a bearing in transaction value wh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... steering gears for developing and making was consuming more time and ultimate cost of the manufacture of the items were increased. Hence, after clearance of the goods, they raised debit notes to M/s. Mando India Steering Systems of ₹ 4.30 crores inclusive of excise duty of ₹ 31,47,563/-. They have paid the excise duty in respect of the debit notes.. But, M/s. Mando India Steering Syst ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ntioned in the debit notes would be included in the transaction value which is beyond the definition of the transaction value under Section 4(1)(d) of the Central Excise Act, 1944. He submits that it is evident from the record that the amount of ₹ 4.30 crores was repaid and adjusted by the applicant in their subsequent clearance to M/s. Mando India Steering Systems. On the other hand, the le ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... there is some force in the submission of the learned AR that the debit notes has a bearing in transaction value which would be examined at the time of appeal hearing at length. 4. In view of that, we grant waiver of predeposit of entire dues and stay its recovery during the pendency of the appeal. Stay application is allowed. (Dictated and pronounced in open Court) - - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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