2008 (5) TMI 167

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.... the sides. The learned Advocate stated that the appellants, M/s. Marigold Paints Pvt. Ltd. are the manufacturers of various types of paints which are excisable. They entered into an agreement with M/s. Shatabdhi Paints and appointed the said Shatabdhi Paints as their 'Consignment Sale Agent'. In terms of the agreement, M/s. Shatabdhi Paints is to effect sales, stock the products manufactured by the appellants and sell the goods on behalf of the appellants at the price fixed by them. The ownership of the goods would always be with the appellants. M/s. Shatabdhi Paints shall bear the credit risk in respect of the goods sold by them. They have to maintain all the relevant records on behalf of the appellants. For entering the above services, M....

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....has been rejected. 4. The learned Departmental Representative re-iterated the impugned Order-in-Appeal. 5. On a very careful consideration of the issue, we find that the lower authority had relied on the Tribunal's decision in the case of Prabhat Zarda Factory (India) Ltd. it is very clear that Prabhat Zarda Factory (India) Ltd. case has been overruled by the Tribunal's Larger Bench decision rendered in the case of Larsen and Toubro Ltd. v. Commissioner of Central Excise [2006 (3) S.T.R. 321 (Tri.-LB)]. The learned Advocate invited our attention to the findings in Paragraph 9.2 of the cited Larsen & Toubro Ltd. case wherein the functions of the 'Clearing and Forwarding Agent' (C & F) in terms of Trade Notice dated 14 July 1997, of the Mad....