9911796707
TMI Blog2018 (11) TMI 899X X X X Extracts X X X X X X X X Extracts X X X X ..... ost was being adopted on the basis of previous year’s balance sheet - Revenue was of the view that there was escalation of the raw-materials subsequently and such escalated cost should have been taken into consideration - Held that:- The appellant had already discharged the additional differential duty as also the fact that the duty paid by the assessee was being availed as credit by M/s.Asian Pai ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ls are being disposed off by a common order, as they arise out of the same impugned order passed by the authorities below, vide which demand of duty of ₹ 2,03,421/- and ₹ 43,684/- stands confirmed against M/s. Padmaja Laboratories under Section 11A(2) of the Act, along with imposition of penalty, under Section 11AC of the Act. Further, penalty of ₹ 20,000/- stands imposed upon M/ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ous year's balance sheet. Revenue was of the view that there was escalation of the raw-materials subsequently and such escalated cost should have been taken into consideration. Accordingly, Revenue initiated proceedings against them by way of issuance of two show-cause notices, one by invoking longer period and the other within the normal period of limitation. During the course of adjudication, th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... thus leading to a revenue neutral situation, we note that the legal issue also sands decided by the Hon'ble Supreme Court in favour of the assessee, in the case of CCE, Pune Vs. Mahindra Ugine Steel Ltd., reported in 2015 (318) ELT 592 (SC). It was held that the provisions of Rule 8 of Central Excise Valuation (Determination of Prices of Excisable Goods) Rules, 2000, is not applicable to the valu ..... X X X X Extracts X X X X X X X X Extracts X X X X
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