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TMI Blog2017 (5) TMI 866X X X X Extracts X X X X X X X X Extracts X X X X ..... here was no intention to suppress anything from the Revenue as they have paid the duty and the entire method was known to the Revenue - this method of valuation by the appellant was in full knowledge of the Revenue and there was regular correspondence on this issue - penalty u/s 11AC cannot be imposed - demand of duty upheld - appeal allowed - decided partly in favor of assessee. - Appeal No. E/1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... before Tribunal. 2. Learned Counsel for the appellant argued that the appellants have paid the entire duty involved along with interest. The appellant had adopted the procedure of paying duty on provisional cost of production of said goods and after completion of cost audit at a later stage, they paid the differential duty voluntarily along with interest. This method was adopted suo motu by the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s follows: - I further find that no protest was lodged by the appellant as regards the duty payment at any stage during the entire period of the issue, for almost 4 years, and even today the same methodology is adopted. I, therefore, find that the duty has been paid correctly in terms of Rule 8 of the Valuation Rules, 2000 and as admitted by the appellant himself the credit has also been take ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent that there was likelihood of the prices being revised on the higher side after the audit is finalized . The appellants knew this fact and it was for them to approach the department disclosing these facts. Though they paid the differential duty on their own subsequently, the fact remains that there was suppression until the duty was paid for the first time. I therefore find that the penalty has ..... X X X X Extracts X X X X X X X X Extracts X X X X
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