2023 (2) TMI 772

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...., Superintendent (AR), for the Respondent. ORDER The brief facts of the case are that both the appellants Shri K.K Thakkar, Director and Shri K.J. Gupta, CEO of M/s. JSL Industries Ltd., Anand. The case against the M/s. JSL Industries Ltd. was made out on the issue of Central Excise valuation. The company was adopting the valuation as per Section 4 of Central Excise Act, 1944 whereas the dep....

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....th the appellants. Therefore, the penalty under Rule 26(1) was rightly imposed. 4. I have carefully considered the submission made by Learned AR and perused the records. I find that there is no dispute that the company M/s. JSL Industries Ltd. have been clearing their goods on payment of excise duty though valuing the goods under Section 4 and they were issuing the central excise invoices.....