https://www.taxtmi.com/caselaws?id=216900 The tribunal ruled in favor of IWPCL, finding that the transactions with BCPL were on a principal to principal basis, making BCPL liable for duty, not IWPCL. The valuation of gambier extract was reduced significantly, and IWPCL was deemed eligible for CENVAT credit. The tribunal also questioned the imposition of penalties on IWPCL and its officials, waiving the pre-deposit requirement and staying the recovery pending appeal disposal. en-us Wed, 25 Jul 2012 00:00:00 +0530 Tue, 26 Feb 2013 11:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=216900 The tribunal ruled in favor of IWPCL, finding that the transactions with BCPL were on a principal to principal basis, making BCPL liable for duty, not IWPCL. The valuation of gambier extract was reduced significantly, and IWPCL was deemed eligible for CENVAT credit. The tribunal also questioned the imposition of penalties on IWPCL and its officials, waiving the pre-deposit requirement and staying the recovery pending appeal disposal. Case-Laws Central Excise Wed, 25 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=216900