2006 (8) TMI 198

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..... lied upon the statutory records of the assessee showing similar goods sold at different prices and cleared by the assessee to its sister unit and other buyers, could CESTAT, on an appeal by the department for imposition of penalty on the assessee justified in holding that department has not adduced any material evidence and the goods supplied were semi-furnished?" 2. The assessee is manufacturin .....

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..... e market and clearances made to the assessee's own unit was for the reason that the goods cleared to its own unit were semi-finished and even when demand was upheld, there could be two views on alleged undervaluation and, therefore, penalty was not justified. 3. Only contention raised in support of the appeal is that the goods were identical and that stand of the assessee was false. 4. We are .....

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..... nding recorded by the Tribunal that there was no mens rea on the part of the assessee in not shown, in any manner, to be unreasonable or perverse. 7. Accordingly, we hold that the view taken by the Tribunal while upholding setting aside of the penalty on the ground that there was no mens rea on the part of the assessee does not call for any interference. The appeal is dismissed. - - Tax .....

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