9911796707
TMI Blog2018 (8) TMI 1001X X X X Extracts X X X X X X X X Extracts X X X X ..... luation will apply? - Held that:- The demand was raised invoking the extended period. The ingredient for invoking the extended period as well as for penalty under Section 11AC is same. It is also fact that the appellant have not disclosed that they have not declared to the department that the goods were cleared to the related person, therefore, there is a suppression of fact accordingly, the penal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... merit this Tribunal has passed the order in the appellant's own case vide order No. A/11159-11164/2018 dated 08.06.2018, therefore, he pleads for waiver of penalty imposed under Section 11AC. He submits that the issue involved is of interpretation of valuation whether the valuation should be done under the Customs Act or Central Excise Act. He placed reliance on the following judgments: * Varen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ded by this Tribunal vide order dated 08.06.2018 according to which the valuation as proposed by the department is upheld. The limited issue to be decided by us is whether the penalty under Section 11AC can be imposed. We find that demand was raised invoking the extended period. The ingredient for invoking the extended period as well as for penalty under Section 11AC is same. It is also fact that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... gment, we reduce the penalty to 25% subject to condition that the amount of duty confirmed, interest and 25% penalty stand paid within one month from the date of receipt of this order. Accordingly, the appeal is partly allowed only to the extent of deduction of penalty to 25% subject to above condition.
(Operative portion of the order pronounced in the open court) X X X X Extracts X X X X X X X X Extracts X X X X
|
