2013 (11) TMI 1340

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....lling under Chapter 72 of the Central Excise Tariff Act, 1985. The said goods are in the nature of industrial products which are normally purchased / used by steel industries for manufacture of various steel items. The appellant was selling the same to independent wholesale buyers. A part of their product was also being transferred to their sister unit located at Raipur, on payment of duty on the assessable value on which the goods were being sold to independent buyers. Their unit located at Raipur was availing the Cenvat credit of duty paid by the appellant and was utilizing the same for payment of duty on their final product. It is also on record that unit at Raipur was also paying the duty on their final product out of PLA. 2. Revenue....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ce of the adjudicating authority that earlier report of the Cost Accountant, stand reviewed by them and if the review report is followed, there is no under-valuation. 4. The Commissioner did not accept the above stand of the assessee. As regards the review report, he ignored the same by observing that it is only the first report which stand relied upon by the revenue and as such, reference to the second review report was not called for. He accordingly confirmed the demand and imposed penalties. 5. After hearing both sides duly represented by Shri G.K. Rawal and Shri Rohit Choudhary, learned Advocates for the appellants and Ms. Ranjana Jha, learned Jt. CDR for the Revenue, we find that there is no dispute about the fact that the appell....