https://www.taxtmi.com/caselaws?id=76844 For petroleum product clearances to company owned and operated outlets, the Tribunal held that the assessable value could not be substituted from the APM-based price adopted by the assessee to the outlet sale price, because the adopted valuation reflected the governing pricing arrangement and the Revenue could not ignore that mechanism. On limitation, the Tribunal found that the relevant facts and pricing structure had already been disclosed to the department, so there was no suppression to justify the extended period; the demand was therefore time-barred. As both the valuation challenge and the limitation objection failed against the Revenue, the demand, penalty and connected reliefs did not survive. en-us Thu, 24 Sep 2009 00:00:00 +0530 Fri, 23 Jul 2010 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=76844 For petroleum product clearances to company owned and operated outlets, the Tribunal held that the assessable value could not be substituted from the APM-based price adopted by the assessee to the outlet sale price, because the adopted valuation reflected the governing pricing arrangement and the Revenue could not ignore that mechanism. On limitation, the Tribunal found that the relevant facts and pricing structure had already been disclosed to the department, so there was no suppression to justify the extended period; the demand was therefore time-barred. As both the valuation challenge and the limitation objection failed against the Revenue, the demand, penalty and connected reliefs did not survive. Case-Laws Central Excise Thu, 24 Sep 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=76844