2003 (10) TMI 472

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....r the Appellant. Shri H. Kotikar, SDR, for the Respondent. [Order per : Moheb Ali M., Member (T)]. - The application for stay and waiver of pie-deposit of duty demanded and penalty imposed arose out of the order of the Commissioner (Appeals) who, while upholding the order of the Deputy Commissioner insofar as the duty demanded is concerned, has reduced the penalty to Rs. 5,000/-. The appl....

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....2000. It so happened that the price for the coupling plates declared earlier by the applicants was Rs. 2,857.27 per piece whereas the cost of the same plates received on or after 14-6-2000 was only Rs. 1,411.07 per piece. The department alleged that the applicants undervalued the cost of raw material (received from M/s. Telco Ltd.) which had an impact on computation of the value of the final produ....

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....f production. M/s. Telco Ltd. have calculated the cost of production of the coupling plates and arrived at a value of Rs. 1,411.07. Accordingly, the value as determined by M/s. Telco Ltd. for the product manufactured by them can alone be taken by the applicants when they make use of the said plates in the manufacture of their products. The department's allegation that the applicants have undervalu....