2018 (4) TMI 759

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..... or the revenue and has thus attained finality. Therefore no fault can be found with the method of such valuation. The issue involved has remained disputed. In such case we also do not find any intention to evade duty payment by the Appellant as all the information were appearing and no attempt has been made to suppress the same. - extended period and penalty not invokable. Appeal allowed. .....

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..... mers in all such cases the cost of the same has to be included in assessable value of the PCB and duty is payable. The show cause notice thus proposed demand of duty and imposition of penalty. The adjudicating authority vide the impugned order confirmed the demand alongwiith interest and also imposed penalties upon the Appellant. Further penalty was also imposed upon directors Shri Vijay M Athwale .....

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..... ears and during the span they would be manufacturing thousand and lakhs of PCB. If the cost of drawing is divided by number of PCBs manufactured till date the result would be approximately zero and hence no value is required to be added and the demand confirmed against them is to be set aside. He also submits that the demand raised by invoking extended period and penalties are not sustainable as t .....

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..... We find that the adjudicating authority by following the Tribunal s order has amortized the development/ film/ drawing charges and quantified the demand. The Appellant has challenged the method of this valuation. However we find that the method of valuation was ordered by the Tribunal and the adjudicating authority has followed those directions. The order passed by the Tribunal was not challenged .....

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..... der section 11AC and Rule 25 is not sustainable. We thus hold that the demand for the extended period and the penalties against the Appellant are not sustainable. For the same reason we set aside the penalties imposed upon both the directors. The impugned order is modified to the above extent. The appeal of company is partly allowed. The appeal of directors are allowed. (Pronounced in court on .....

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