2015 (10) TMI 881

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.... For the Respondent : Shri S Sharma, Commr (AR) ORDER Per I P Lal These two applications are filed seeking waiver of predeposit of duty of Rs. 54.76 Crores and equal amount of penalty imposed under Section 11AC of the Central Excise Act, 1944. 2. At the outset, the ld.Advocate appearing for the Applicants, submitted that by the impugned order, the ld.Commissioner confirmed the duty a....

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....sed on the price of comparable goods is not consistent with the principles and general provision of Valuation Rules and sub-section(1) of Section 4 of the Act. He submitted that the convergent agent is eligible to take credit and therefore, the entire exercise is revenue neutral. He submits that for the subsequent period, the Department is assessing the impugned goods under provisional assessment ....

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....under Rule 8 of Central Excise Valuation (Determination of Price of Excisable Goods) Rules, 2000, CAS 4 method of arriving at value is applicable where the goods are used for captive consumption by the unit or on their behalf. We also find in the contention of the ld. Advocate for the Applicant that the convergent agent was eligible to take credit of the duty paid by the Applicants and therefore, ....