2017 (1) TMI 374

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....oday, therefore, stay application as well as the appeals are taken up together for final disposal. 2. The brief facts of the case are that the appellants were engaged in the manufacture of woollen yarn, woollen fabrics, woollen shawls, woollen blankets falling under chapter 51, 62,and 63 of Central Excise Tariff Act, 1985. During the impugned period, the appellants cleared woollen serge-999 (Khaki and Blue) to the marketing division of M/s NTC Ltd. on payment of Central Excise Duty on transaction value of Rs. 129.32 and 116.52 per mtr. Whereas M/s NTC Ltd. further sold the goods on higher price @ 160 per mtr. After deduction of duty, the transaction value comes to Rs. 137.93 per mtr for the goods sold to the marketing division. As the ap....

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....f the goods, such value shall- (a) In a case where the goods are sold by the assessee, for delivery at the time and place of the removal, the assessee and the buyer of the goods are not related and the price is the sole consideration for the sale, be the transaction value; (b) In any other case, including the case where the goods are not sold, be the value determined in such manner as may be prescribed; (2) The provisions of this section shall not apply in respect of any excisable goods for which a tariff value has been fixed under sub-section (2) of section 3. (3) For the purpose of this Section,- (a) Assessee means the person who is liable to pay the duty of excise Under this Act and i....