2012 (2) TMI 319

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....dditional Commissioner (AR) Per: Ashok Jindal: The appellant M/s Indian Oil Corporation Ltd., is seeking waiver of pre-deposit of Rs.10,55,03,909/- along with interest and various penalties under the Finance Act, 1994. 2. The facts of the case are that M/s Indian Oil Corporation Ltd. (IOCL) is having an agreement of sale with M/s Zuari Industries Ltd. (ZIL) for sale of naphtha and Furnace....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ies. Against the said order, the applicant are seeking waiver of pre-deposit at this stage. 3. Shri M.H.Patil, learned counsel for the applicant appeared and submitted that the transaction between the parties is total sale transaction on principal-to-principal basis and in this case they have entered into an agreement with M/s ZIL for sale of Naphtha and Furnace oil. As per the agreement, the g....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....case wherein the Commissioner of Central Excise (Appeals), Mangalore, in order-in-appeal no. 206/2007-CE passed on 29.11.2007 has taken the same view and the same has been accepted by the department. Therefore, he prays that waive of be granted. 4. On the other hand, Shri V.K.Singh, learned AR opposed the stay application and submitted, in this case, the issue before this Tribunal is that wheth....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....sing the records and various judicial pronouncements, we find that, in this case, there is an agreement for sale of the goods imported by the applicant on High Seas Sale basis to M/s ZIL. M/s ZIL has included facilitation charges and additional handling charges in the assessable value as per the agreement. Prima facie, we are of the view that these charges, are included in the assessable value, th....