2019 (1) TMI 1422

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....rounds that the appellant had manufactured and cleared the product 'Earthing Electrodes' during the year 2004-05 (up to 21.03.2005) and thereafter M/s. Ashlok Safe Earthing Electrode Ltd. (hereinafter referred to as 'M/s. ASEEL') continued to manufacture and clear the same product from the same factory; that the manufacture, clearance and excisability of the product had not been negated/disputed by the appellant. Excisability of the product is evident from the fact that the appellant, after transferring the assets of the factory to M/s. ASEEL, the newly formed company, obtained Central Excise Registration on 30.09.2005 for manufacture and clearance of the same product i.e., Earthing Electrode from the same factory premises and started payin....

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....at of the electrodes, that price should be the correct assessable value and no deduction can be given from that price for the reason that the price includes the cost of BFC also. 2.2 He further submitted that there is no finding by the first appellate authority nor has the Commissioner (Appeals) given any justifiable reasons for not including the value of BFC in the assessable value of the Electrodes. 3.1 Per contra, Ld. Advocate Shri. S. Venakatachalam appearing for the assessee supported the findings of the Ld. Commissioner (Appeals). He also submitted that there was no suppression of facts with intent to evade payment of duty; that the respondent was under the bona fide belief that it was eligible for exemption till crossing the li....