https://www.taxtmi.com/caselaws?id=93846 LPG valuation under the administrative price mechanism was governed by the earlier Larger Bench principle linking duty liability to the purpose for which LPG was earmarked and the prices fixed by the Oil Coordination Committee; on that basis, the admitted duty demand was sustained while the remainder was set aside. Penalty under Section 11AC of the Central Excise Act could not be imposed for a period preceding its enactment, so that penalty was vacated. The penalty on the marketing entity was also unsustainable because it acted in accordance with the administrative price mechanism and merely marketed the goods on notified prices. In result, only the admitted duty demand survived and all penalties were removed. en-us Fri, 08 Sep 2000 00:00:00 +0530 Thu, 17 Nov 2011 12:58:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=93846 LPG valuation under the administrative price mechanism was governed by the earlier Larger Bench principle linking duty liability to the purpose for which LPG was earmarked and the prices fixed by the Oil Coordination Committee; on that basis, the admitted duty demand was sustained while the remainder was set aside. Penalty under Section 11AC of the Central Excise Act could not be imposed for a period preceding its enactment, so that penalty was vacated. The penalty on the marketing entity was also unsustainable because it acted in accordance with the administrative price mechanism and merely marketed the goods on notified prices. In result, only the admitted duty demand survived and all penalties were removed. Case-Laws Central Excise Fri, 08 Sep 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=93846