TaxTMI 
TaxTMI 
2013 (10) TMI 991
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....ondent: Sri S. Chakraborty, A.C. (A.R.) ORDER Per DR. I.P. LAL; Two separate applications have been filed for waiver of pre-deposit of Central Excise duty of Rs18,24,725/- alongwith interest at the appropriate rate and equal amount of penalty imposed under Section 11AC of the Central Excise Act, 1944 on M/s. Bhalotia Auto Products Ltd. i.e. Applicant No. (1) and penalty of Rs. 2.00 Lakhs impose....
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....ed 19/02/2002. The Ld. Advocate states that they have correctly arrived at the value in terms of the decision of Hon'ble Supreme Court in Ujagar Prints case and subsequently in Pawan's Biscuits case. 3. As per contra, the Ld. A.R appearing for Revenue submitted that from the invoice issued by M/s. Eicher Motors at the time of removal of chassis was bifurcated by them as cost of the chassis at 10%....
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.... 4. Heard both sides and perused the records. We find that M/s. Bhalotia Auto Products Ltd. i.e. applicant No. (1) has manufactured fully built motor vehicles on job work basis. They have fabricated and mounted body on duty paid chassis, supplied by their Principal M/s. Eicher Motors. They availed Cenvat Credit of duty paid on chassis apart from their inputs and utilized the same towards payment o....
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....re not able to appreciate as to how having taken credit of the duty paid on chassis on the basis of 110% of the cost of production/manufacture, Bhagirath would not include the additional 10% of cost in the assessable value of the vehicle, particularly when in respect of other goods procured directly by them on the account of Eicher, used as raw material, their transaction value is taken into accou....