TaxTMI 
TaxTMI 
2014 (2) TMI 923
X X X X Extracts X X X X
X X X X Extracts X X X X
....ilways for manufacture of the goods namely, BOXNHS wagons/BCNAHS wagons. Even though way back in the year,1991, it was held by the Hon'ble Supreme Court in their own case, reported as Burn Standard Ltd. vs. Union of India, 1992(60)ELT 671(SC), that the value of the free issue materials is includible in the value of the manufactured wagons, the Applicant did not include the value of the free issue materials for the relevant period i.e. from March, 2006 to October, 2006, on a bona-fide belief that in the Transaction Value regime, the value of free issue materials is not includible in the value of wagons. The ld. Advocate also submits that the present demand is barred by limitation, as no fact was suppressed from the knowledge of the Departmen....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... for the Applicant that under the bona-fide belief, they could not discharge the appropriate duty on the assessable value of the wagons. 4. Heard both sides and perused the records. We find from the submissions of the ld. Advocate that even though he has accepted the principle of law on the includibility of the value of free issue materials in the assessable value of the wagons, for determination of the appropriate duty, he vehemently argued that the demand was barred by limitation, as the facts had not been suppressed from the knowledge of the Department. We do not find any substance or merit in the contention of the ld. Advocate. Admittedly, in the present case, the law was well settled by the Hon'ble Supreme Court way back in the year, ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....in relation to sale of the goods being valued and aggregated accordingly, namely: - (i) value of materials, components, parts and similar items relatable to such goods; (ii) value of tools, dies, moulds, drawings, blue prints, technical maps and charts and similar items used in the production of such goods; (iii) value of material consumed, including packaging materials, in the production of such goods; (iv) value of engineering, development, art work, design work and plans and sketches undertaken elsewhere than in the factory of production and necessary for the production of such goods. 4.1. It is difficult to appreciate that M/s. Burn Standard Company, who are engaged in the manufacture of railway wagons, could not appreciate the new....