2015 (10) TMI 2271

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....dependent buyers. The dispute is relating to the value of the castings which they cleared and used for their own factory in other location. The period involved is 1996 to 1999. The respondent assessee was filing the requisite price declaration supported by the Chartered Accountant certificate for the price of captively consumed castings. On the basis of such price declaration, goods were being cleared on payment of duty. Later on, department asked for the detail working on the basis of which the Chartered Accountant was issuing the certificate, which the appellant was not able to produce. Based upon the details available in the balance sheet, Revenue issued a show-cause notice demanding duty of Rs. 21,51,773/- invoking the extended period o....

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....s effected to their own units. During the time of personal hearing M/s. Kishor Pumps submitted copies of invoices relating to supplies effected by them to other independent buyers and stated that the price declared by them for the goods in question used for captive consumption was always higher than the price at which such goods were sold by them to other independent buyers. From the aforesaid evidence furnished by M/s. Kishor Pumps, it is seen that the price declared by them for the goods in question used for captive consumption was always higher than the price at which such goods were sold by them to independent buyers. When value of comparable goods manufactured by the assessee and sold to independent buyers is available, the determinati....