2024 (3) TMI 556

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....ith section 11AA of Central Excise Act, 1944, directed by the original authority that came to be upheld in order [order-in-appeal no. BC/82/M-III/2013-14 dated 23rd May 2013] of Commissioner of Central Excise (Appeals), Mumbai-III on disposal of their appeal, is the propriety of resort to 'provisional assessment' under rule 7 of Central Excise Rules, 2002 against the wishes of the assessee and the legality of finalization therefrom under empowerment of that rule. The appellant is a manufacturer of 'transformers' that are typically made to order on customer requirements and which, owing to the time taken for completion of contractual fulfillment, are subject to price escalation during pendency of execution requiring consideration thereto hav....

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.... it was contended that appellant had not put forth any evidence, either in the form of invoices or debit notes, to satisfy the original authority that this was so. It was argued that 'assessable value' and other aspects of 'transaction value' had been misconstrued by the assessee in their pleas before the lower authorities. Reliance was placed on the decision of the Hon'ble Supreme Court in Steel Authority of India Ltd v. Commissioner of Central Excise, Raipur [2019 (366) ELT 769 (SC)] and it was further contended that the decision of the Tribunal in Transformers & Rectifiers (I) Ltd v. Commissioner of Central Excise, Ahmedabad [2015 (321) ELT 518 (Tri-Ahmd], and upheld by the Hon'ble Supreme Court, makes it clear that liability for interes....

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....Provisional Assessment during the year 2010 to 2011. In view of their request, the Assistant Commissioner, Central Excise, Kanjur Division vide letter F.No. V/Tech-M/KDN/15/Prov.Assess/Crompton (T)/2010 dated 25th June, 2010 ordered Provisional Assessment under Rule 7 (1} of Central Excise Rules, 2002, allowing the assessee to clear their goods to their customers for the period 01.04.2010 to 31.03.2011 on payment of Central Excise Duty thereon, on provisional basis, with certain terms and conditions, that: (a) the assessee was directed to execute bond for Rs.15,89,00,000/- in Form B-2 with security (25%) of the bond amount in the form of cash deposits or Bank Guarantees immediately after receipt of the said order. (b) The Bank Guarantee....