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TMI Blog2017 (7) TMI 983X X X X Extracts X X X X X X X X Extracts X X X X ..... it only on the ground that entire transaction would give rise to a revenue-neutral situation. Thus SCN issued beyond the normal period is not sustainable - even if the duty has to be paid by appellant as alleged in the SCN, their sister concern would be able to take credit - confirmation of demand, interest and the imposition of penalty is unsustainable - appeal allowed - decided in favor of appel ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y of records, it was noticed that assessee's Chennai unit and Pondicherry units were clearing E.C. Grade Aluminium Wire Rod to their sister units at Tumkur on stock transfer basis. The assessable value in respect of the goods stock transferred should be determined in terms of Section 4 (1) (b) of Central Excise Act, 1944 read with Rule 8 of the Central Excise Valuation (Determination of Price ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ppeal No.E/682/2007 against reduction of penalty. 3. On behalf of assessee, ld. counsel Shri M. Karthikeyan submitted that the assessee is not contesting the liability and would like to submit only on the ground that entire transaction would give rise to a revenue-neutral situation. Thus SCN issued beyond the normal period is not sustainable. He submitted that even if the duty has to be paid by ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e products i.e. processed yarn seems to be improper as that includes various other expenses which are not to be considered for the purposes of arriving at the cost of production of the processed yarn cleared for captive consumption or on job work basis. In view of this, we are of the considered view that the cost adopted by the assessee based upon CAS-4 certificate of the Cost Accountant is correc ..... X X X X Extracts X X X X X X X X Extracts X X X X
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