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TMI Blog2017 (1) TMI 367X X X X Extracts X X X X X X X X Extracts X X X X ..... should have followed provisions of Rule 8 of Valuation Rules, 2000 - Held that: - When there is an independent sales and transaction value is available there is no application of provisions of Rule 8 to arrive at the valuation during the material period. Extended period of limitation - Held that: - we find no ground to allege suppression, fraud, collusion etc. with an intention to evade payment of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h for further manufacture of coated paper on stock transfer basis. They have paid duty of ₹ 6,72,117/- on such stock transfer, based on transaction value of similar goods sold to independent buyers. The Revenue entertained a view that they should have followed provisions of Rule 8 of Valuation Rules, 2000 and paid duty on 110% of cost of production. Accordingly, proceedings were initiated ag ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... earance to sister concern for further consumption can be valued at based on such similar goods. Finally, the learned Counsel submitted that there is no question of malafide intend as all the duty paid on such transfer of goods are available as Cenvat credit to their unit in Haryana. In such situation, there can be no question of fraud etc. and no justification for imposing penalty. 3. The learned ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... been held by the Tribunal in Ispat Industries Ltd. vs. CCE, Raigad reported in 2007 (209) E.L.T. 185 (Tri. - LB). Reference can also be made to the Tribunal's decisions in Steel Authority of India Ltd. vs. CCE, Raipur reported in 2016 (335) E.L.T. 91 (Tri. - Del.) and in Ultratech Cement Pvt. Ltd. vs. CCE, Bhavnagar reported in 2013 (295) E.L.T. 470 (Tri. - Ahmd.). It is also seen that the appella ..... X X X X Extracts X X X X X X X X Extracts X X X X
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