https://www.taxtmi.com/caselaws?id=764925 The SC allowed the appeal in a Central Excise duty valuation case. The Court held that under the MOU between oil marketing companies, the price was not the sole consideration for sale, as the arrangement was primarily to ensure uninterrupted supply of petroleum products across India. The Revenue failed to invoke the extended limitation period under Section 11A(1) proviso of CEA 1944, as no detailed reasons were recorded and no fraud or willful misstatement was established. Consequently, the penalty under Section 11AC could not be imposed. The demand was unsustainable. en-us Mon, 20 Jan 2025 00:00:00 +0530 Tue, 21 Jan 2025 14:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764925 The SC allowed the appeal in a Central Excise duty valuation case. The Court held that under the MOU between oil marketing companies, the price was not the sole consideration for sale, as the arrangement was primarily to ensure uninterrupted supply of petroleum products across India. The Revenue failed to invoke the extended limitation period under Section 11A(1) proviso of CEA 1944, as no detailed reasons were recorded and no fraud or willful misstatement was established. Consequently, the penalty under Section 11AC could not be imposed. The demand was unsustainable. Case-Laws Central Excise Mon, 20 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764925