https://www.taxtmi.com/caselaws?id=220421 The Appellate Tribunal CESTAT, New Delhi ruled in favor of the appellant, a petroleum products manufacturer, in a case involving the undervaluation of products for excise duty calculation due to temperature conversion. The Tribunal held that converting the actual volume at room temperature to notional volume at 15^0C for pricing did not constitute undervaluation to evade excise duty. As the goods were cleared on payment of excise duty as per declared price in invoices to unrelated parties, without evidence of additional considerations or related party transactions, the appellant was deemed to have correctly paid excise duty as per transaction value, as required by the Central Excise Act. The duty demands against the appellant were set aside, and the appeals were accepted. en-us Mon, 13 Aug 2012 00:00:00 +0530 Thu, 24 Jan 2013 07:20:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=220421 The Appellate Tribunal CESTAT, New Delhi ruled in favor of the appellant, a petroleum products manufacturer, in a case involving the undervaluation of products for excise duty calculation due to temperature conversion. The Tribunal held that converting the actual volume at room temperature to notional volume at 15^0C for pricing did not constitute undervaluation to evade excise duty. As the goods were cleared on payment of excise duty as per declared price in invoices to unrelated parties, without evidence of additional considerations or related party transactions, the appellant was deemed to have correctly paid excise duty as per transaction value, as required by the Central Excise Act. The duty demands against the appellant were set aside, and the appeals were accepted. Case-Laws Central Excise Mon, 13 Aug 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=220421