2005 (8) TMI 420

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....llant. Shri Ganesh Havanur, SDR, for the Respondent. [Order per : T. K. Jayaraman, Member (T)]. - This is an appeal against the Order-in-Appeal No. 706/2002-C.E., dated 15-11-2002 passed by the Commissioner of Customs & Central Excise (Appeals), Bangalore. 2. The brief facts of the case are as follows :- The appellants had sent some capital goods from their unit at Davangere to....

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....Mumbai unit. The value in this case has to be 15% of cost of production that is 115% of the value as mentioned in the Bill of Entry under which the imported capital goods were cleared by the Appellant." The appellants are aggrieved over the impugned order of the Commissioner (Appeals). 3. Shri M.J. Chandrasekhar, Authorised Signatory appeared on behalf of the appellants and Shri Ganesh ....

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....antify the value and duty in accordance with the Board's Circular. 6. We have gone through the records of the case carefully. After the introduction of new Section 4 with effect from 1-7-2002, the Board has given elaborate clarification with regard to the valuation, in C.B.E. & C. Circular No. 643/34/2002-CX, dated 1-7-2002. In the above Circular point No. 14 clarifies the valuation to be ....

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....e, have to be taken to the residuary Rule 11 of the Valuation Rules and the value determined using reasonable means consistent with the principles and general provisions of the Valuation Rules and sub-section (1) of Section 4 of the Act. In that case, it would be reasonable to adopt the value shown in the invoice on the basis of which Cenvat credit was taken by the assessee in the first place. In ....