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TMI Blog2023 (4) TMI 258X X X X Extracts X X X X X X X X Extracts X X X X ..... rt but in none of the appeal there is any stay. In this position, the wheel of justice should not stop, accordingly we take up this appeal for disposal. As of now the issue is no longer res integra as in the majority of decisions cited by the respondent, it has been held that even though there is a difference of price between sale made through OMC on depot and in case of sale made to OMC even though at lower price, the same has been held under Section 4(1)(a) as transaction value and the demand of duty has been dropped. Though the revenue is in appeal before the Hon ble Supreme Court but no stay has been obtained as per available records. There is no infirmity in the impugned order hence, the same is upheld, revenue s appeal is dismis ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d on a uniform basis throughout the country and there is no disparity in price charged by OMC to the end costumers at any given location. IOCL entered into Memorandum of Understanding /agreement with Reliance Petroleum Limited for purchasing of petroleum products. Two show cause notices, first in December 2003 and other in May 2004 for the period June 2002 to March 2003 and April 2003 to December 2003 respectively were issued to the respondent. The adjudicating authority decided all the show cause notices holding in favour of the respondent. The learned commissioner adjudicated show cause notices by common order after detailed examination of MOU, relevant facts and provisions of law as applicable to those fact held as under:- (a) Import ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 4(1) for the petroleum product share with other oil companies are not sold at the time of clearance from factory of IOCL for the clearance of petroleum product under Oil Exchange agreement. There is no transaction value available in terms of Clause (a) of Section 4(1) of the Central Excise Act, 1944 as there is only exchange of product/goods and charging of agreed price from each other for such product. Exchange is only on notional basis, the price based on Import Parity Price cannot be expected as a transaction value for indigenously manufactured petroleum product where the value has to be determined in accordance to the provision of Section 4 of the Act. 2.1 The agreed price charged on the bartered basis does not represent the transac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . 479 (Tri.-Bang.) INDIAN OIL CORPORATION LTD. V/s. COMMISSIONER OF C.EX., CUS., GOA- 2009 (235) E.L.T. 702 (Tri.-Mumbai) BHARAT PETROLEUM CORPORATION LTD. V/s. COMMR. OF C.EX., NASIK- 2009 (242) E.L.T. 358 (Tri.-Mumbai) COMMISSIONER OF CENTRAL EXCISE, COCHIN V/s. M/S. KOCHI REFINERIES LTD.- 2011-TIOL-276-CESTAT-BANG INDIAN OIL CORPORATION LTD. V/s. COMMISSIONER OF C.EX., ALLAHABAD- 2014 (300) E.L.T. 539 (Tri.-Del.) COMISSIONER OF C.EX., MUMBAI-IV V/s. INDIAN OIL CORPORATION LTD.- 2014 (308) E.L.T. 502 (Tri.-Mumbai) BHARAT PETROLEUM CORPORATION LTD. V/s. COMMR. OF C.EX., COIMBATORE- 2016 (342) E.L.T. 602 (Tri.-Chennai) KOCHI REFINERIES LTD.V/s. COMMISSIONER OF CENTRAL EXCISE, COCHIN- 2017 (349) E.L.T. 338 (Tri.-Bang.) ..... X X X X Extracts X X X X X X X X Extracts X X X X
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