2009 (5) TMI 793

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....y Kumari Chander, JCDR, for the Respondent. [Order per : T.K. Jayaraman, Member (T) (Oral)]. -  In terms of the impugned order, the following amounts are required to be pre-deposited :- (i)      Duty: Rs. 40,33,977/- under Section 11A(1) of the C.E. Act, 1944 (ii)    Interest under Section 11AB (iii)   Penalty Rs. 5,00,000/- und....

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....Further, our attention was invited to Circular No. 796/29/2004-CX., dated 4-9-2004 wherein it has been clarified that value in respect of the petroleum products cleared from the refineries on or after 6-9-2004 should be determined under Section 4 of the Central Excise Act, 1944 read with the Valuation Rules. In this case, the applicant has discharged the duty liability on the basis of the Transact....