2022 (8) TMI 1154

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....t observed that the assessee had adopted the valuation in respect of their finished goods cleared to depot at Gaziabad Branch on the basis of transaction value under Section 4 (1)(a) of the Central Excise Act, 1944 instead of Rule 7 of the Central Excise Valuation (Determination of Price of Excisable Goods) Rules, 2000 as amended. 2. The Appellant immediately accepted their default and paid the entire amount of Central Excise duty to the tune of Rs.4,80,276/- on 26.03.2015 along with interest of Rs.1,10,263/-. Subsequently, Show-cause notice dated 10.06.2016 was issued to the Appellant, which was adjudicated by Order-in-Original dated 22nd December, 2017. 3. The Appellant filed appeal before the Ld. Commissioner (Appeals) for setting asid....

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....t, 1994 read with Rule 9 of Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019. 5.1 After giving careful consideration to the submissions, I am of the view that in the peculiar facts and circumstances of this case, the plea for vacating the penalty is tenable. The substantive dispute between the Department and the Assessee revolved around the question whether valuation adopted by the assesse on the basis of transaction value under Section 4(1)(a) of the Central Excise Act, 1944 or should have followed the provisions of Rule 7 of the Central Excise Valuation (Determination of price of Excisable Goods) Rules, 2000. The penalty provision stands attracted where duty of excise has not been levied or paid or has been short-levied or short-pa....