TaxTMI 
TaxTMI 
2001 (2) TMI 355
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....P.K. Jain, SDR, for the Respondent. [Order per : C.N.B. Nair, Member (T)]. - Issue involved in this appeal is the valuation of Bitumen manufactured and sold by the appellants during the period March, 1994 to December, 1995. 2.  The appellant is a public sector oil refinery and Bitumen sold by them was under the Administered Price Mechanism during the relevant period. The dispute is with r....
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....igher than the price included in the basic ceiling selling prices. It is also stated that the appellant had taken Modvat credit on the value of the drums while only a part of the value of the drum remains included in the assessable value. 3.  It has been submitted on behalf of the appellants during hearing that in respect of goods under Administered Price Mechanism, appellant is compelled to....
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....of goods covered under Administered Price Mechanism. 4.  A perusal of the record of this case makes it clear that the appellant had paid duty on the sale price realised by them. That sale price also included an element towards the cost of drum as permitted under the pricing formula. There is no allegation that the appellant received any price or consideration over and above the sale price fr....