2002 (9) TMI 230

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..... veneers at their factory in Gondia in Maharashtra and clear the same after payment of duty to their factory at Tinsukhia in Assam for captive consumption in the manufacture of plywoods. The value of the veneer for assessment at Gondia was arrived at by application of Rule 6(b)(ii) of the Central Excise (Valuation) Rules, 1975 on the basis of cost of manufacture plus margin of profit. The scrutiny .....

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..... ent of interest, and imposed penalty equal to duty amount, confiscated plant machinery, etc., used by appellants to manufacture, store and remove the goods with option to redeem the same on payment of fine of Rs. 10 lakhs. She also imposed a penalty of Rs. 5 lakhs on Shri Jain, Administrative Officer of the appellant's company. Hence, these appeals. 2. We find on hearing both sides that the appe .....

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..... in the Tinsukhia factory, thus resulting in Revenue neutral situation. 3. Following the ratio of the law Larger Bench decision we hold that the demand raised in the present case on 29-2-2000 for clearances made during the period from February, 1995 to February, 1999 is barred by limitation, set aside the impugned order and allow the appeals on this ground, without going into the merits of the d .....

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