2018 (7) TMI 1781

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....in & Ms. Sukriti Das, Advocates for the appellant Sh. M. R. Sharma, AR for the Respondent ORDER Per: V. Padmanabhan: The present application for rectification of mistake has been filed for rectifying certain mistakes in the Final Order No. 50790/2018 dated 26.02.2018. Vide the above final order the appeal filed by the appellant was rejected and the demand was upheld. 2. Heard Shri A....

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....onsidered. The Tribunal has also not given any findings on this issue. He argued that the non consideration of the above main arguments constitutes an error apparent on the Tribunal requiring rectification. 3.3. Ld. Advocate further supported the plea that the demand is hit by time bar by referring to CBEC circular dated 16.02.2018 in which the Board has circulated that extended period would no....

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.... penalty. Our attention has been drawn to the written submission placed on record wherein the submissions as regard time bar as well as penalty have been raised. Inasmuch as the same does not stand discussed by the Tribunal in the final order, we are of the view that the same amounts to a mistake on the part of the Tribunal. Accordingly, we allow the Rectification of Mistake Application and procee....

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....177 (SC)." 12. It has further been argued that since the demand is not sustainable no penalty is imposable. 13. After carefully considering the submission made on record and the case laws we note that assessee was required to determine the correct transaction value in accordance with the provisions of Section 4 of the Central Excise Act. Since the assessee has neither determined the transact....