TaxTMI 
TaxTMI 
2006 (2) TMI 36
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....0,250/- together with interest and imposed penalty of equal amount under the provisions of Section 11AC upon the appellants herein who are engaged in the manufacture of LPG Tanker mounted on Trailer falling under CET Sub-heading 8716.00 on the ground that they were not including the value of 3 essential items viz. Running gear, landing gear and pressure plates for the purpose of payment of duty on....
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....he finished goods manufactured and cleared by the appellants. We, therefore, see no merit in the plea of the appellants that they were not required to include the value of these 3 items in the value of LPG Tank mounted on duty paid Chassis manufactured and cleared by them. 12 As regards the plea that the demand is barred by limitation, as classification list claiming the benefit of exemption unde....
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....pressed the facts about the non-inclusion of value of such items in the as sessable value of the finished goods. We find that no case has been made out by the appellant regarding non applicability of the extended period of limitation and we uphold the finding that the assessees were guilty of suppression; However, the alternate plea of the assessees that the benefit of Modvat credit is required to....