2018 (8) TMI 1444

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....resented. 3. Since the matter is of 2009, we take up the appeal for disposal. Heard the Learned Commissioner and perused the records. 4. On perusal of records, it transpires that the issue involved in this case is regarding the valuation of P or P Medicaments cleared during the period July, 2002 to March, 2005. 5. It is the case of the Revenue in the show cause notice that the respondent herein under an agreement with M/s Parke Davis (I) Ltd [PD] had manufactured various P or P Medicaments and cleared the same discharging Central Excise Duty as per the agreement value between them but they are supposed to discharge the Central Excise duty on the value at which M/s PD sells the said Medicaments in the market; it is also the case of ....

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....plant and machinery, raw-material and packing material. The cost of the machinery is based upon the written down value and the cost of raw-materials as evaluated at the time of supply. The consideration for cost of raw-material, packing material and the plant and machinery are in fact adjusted by raising debit notes. We find that the adjudicating authority in para 31 has recorded the following: "31. Further, Statements of Sri Sunil S. Ghogre, Directore (Operations) of M/s PD, Dr. U. Ravi Rao, MD of M/s GLL and Sri B.K. Anderson, Direcotr of M/s Pfizer Ltd. were recorded wherein they have categorically stated that the transactions between M/s PD and M/s GLL are on principal to principal basis. Dr U. Ravi Rao in his statement dated 30.08.2....