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TMI Blog2019 (12) TMI 330X X X X Extracts X X X X X X X X Extracts X X X X ..... h Court in COMMISSIONER VERSUS VISHNU DYEING PRINTING WORKS [ 2008 (8) TMI 896 - BOMBAY HIGH COURT] where it was held that invocation of extended period for the confirmation of demand against the present appellant is not available to the revenue in the absence of any evidence to show that the appellant had colluded with the merchants/traders in giving wrong declaration of the price. The appeal is allowed on the claim of limitation. - EXCISE APPEAL NO: 1485 of 2011 - A/86856/2019 - Dated:- 13-5-2019 - HON BLE MR C J MATHEW, MEMBER (TECHNICAL) AND HON BLE DR SUVENDU KUMAR PATI, MEMBER (JUDICIAL) Shri TC Nair, Advocate for the appellant Shri Anil Choudhary, Deputy Commissioner (AR) for the res ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s, namely, Sangam India Ltd. M/s. Sangam Suitings were declaring the value of grey fabrics sent to Sangam Processors (Bhilwara). But in paragraph 3 the reference is made to declaration of the selling price of the trader. However, if it is the selling price of the trader that is declared, the Excise authorities need accept it as the assessable value of the processed fabric if it includes only the deemed price of the processed fabric at the deemed factory gate of the processor s plus his profit. In order to find out the deemed price at which the processed fabric would leave the processor s factory it is necessary to examine the value of the grey fabric. We do not find any justification from the decision of the Supreme Court to support the v ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is correct in placing reliance in the case of Jaiprakash Industries Ltd. [2002 (146) ELT 481 (S.C.)] for the proposition that extended period cannot be invoked, where there is a bona fide belief. His submission that having filed the price declaration based upon the declaration given to them by the merchants/traders and also annexed the same along with the price declaration they had every reason to be under bona fide belief that the price was correct, has a strong force. As such, invocation of extended period for the confirmation of demand against the present appellant is not available to the revenue in the absence of any evidence to show that the appellant had colluded with the merchants/traders in giving wrong declaration of the price. On ..... X X X X Extracts X X X X X X X X Extracts X X X X
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