1999 (9) TMI 517

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....e, for the Appellant. Shri B.K. Choubey, DR, for the Respondents. [Order per : J.H. Joglekar, Member (T)]. -  These three applications relate to three appeals arising out of the same order. They are therefore being disposed of by this common order. 2. We have heard Shri Atul Setalwad, Sr. Counsel appearing along with Shri D.B. Shroff, Advocate for the applicants and Shri V.K. Choubey....

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....f the impression that the transfer to their own units did not amount to sale but that duty should have been computed following the provisions of Rule 6(b)(ii) of the Valuation Rules, 1975. The statements of the two other applicants, the employees of the assessees were recorded. Show cause notice was issued alleging that suppression and extending the period to five years. In their reply the assesse....

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....d and also imposed penalties on the two employees of Rs. 1,00,000/- each. Hence the present applications. 4. The very significant argument made before us is that the bulk of demand that is over Rs. 72 lakhs pertains to the bulk drug "ETOFYLLINE" which was admittedly a scheduled bulk drug and therefore the price fixed by the drug control authorities would be the price for the collection of du....