2008 (4) TMI 632

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....Advocate, for the Appellant. Shri R.B. Tiwari, Jt. CDR, for the Respondent. [Order per : A.K. Srivastava, Member (T)]. - These appeals have been filed by M/s. Indian Oil Corporation Ltd. against the Order-in-Appeal No. GOA/CEX/SNS/58 to 59/2006 dated 29-3-2006 passed by the Commissioner (Appeals), Central Excise & Customs, Goa. 2. Heard both the sides and perused the records. 3....

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....um products under the oil exchange arrangements is not a transaction in terms of clause (a) of Section 4(1) of the Central Excise Act, 1944 as there is no sale of excisable goods. Accordingly, he held that the value charged to their own depots/dealers (which is also the actual sale value charged by the oil receiving companies of the same station) is to be considered as assessable value for the lev....

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....s concerned, we observe that the Tribunal in the case of M/s. Hindustan Petroleum Corporation Ltd v CCE, Visakhapatnam. I reported in 2005 (187) E.L.T. 479 (Tri.-Bang.) has accepted the assessee's contention that the transaction value is the price at which the assessee sells the goods to other marketing company and rejected the Revenue's contention to the contrary. The civil appeal filed by the Re....