2017 (1) TMI 1353

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.... petroleum products. The appellants received excise bonded petroleum products and cleared the same on payment of Central Excise Duty from their re-warehousing terminal during the material period. On perusal of invoices issued by the appellants it was observed that the appellants were clearing the said petroleum products from their terminal point i.e. the place of removal of the independent retail outlets and also to the company owned company operated (COCO) outlets on payment of Central Excise duty at the same assessable value by the provisions of Section 4(1) (a) of the Central Excise Act, 1944 (the Act). Revenue felt that the valuation should be done under provisions of Section 4(1) (b) of the Act for which Central Excise Valuation (Deter....

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....aws relied upon by the Advocate of the appellants. In the case of Indian Oil Corporation Ltd. Vs. CCE, Hyderabad (supra), it was held as below:- "5. We have carefully considered the submissions made by both sides and perused the records. We find that the issue involved is regarding discharge of duty liability as per valuation adopted by the appellant on the goods cleared at COCO. We find that an identical issue has been decided by this Bench in the case of Bharat Petroleum Corporation Ltd. (supra), the ratio being:- 3. The question before us is as to whether the price APM adopted by the appellants are in terms of the price fixed by the Ministry of Petroleum and Natural Gas can be rejected and Revenue can proceed to adopt t....

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....ar. Appeal is allowed with following ratio of the above decision, we set aside the impugned and the appeal is allowed with consequential relief if any." In the case of Bharat Petroleum Corp. Ltd. vs. CCE, Chennai (supra), the Tribunal held as under: "2. We have heard both sides. Rule 7 provides that where the goods are not sold at the time and place of removal but are transferred to a depot, premises of a consignment agent or any other place or premises from where the excisable goods are to be sold, the value shall be the normal transaction value of such goods sold from such other place . In the present case, Motor Spirit and HSD oil are also sold to customers at the time and place of removal. In these circumstances, provisions ....