2006 (8) TMI 198

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.... preferred by the Revenue proposing following substantial question of law :- "When the department has relied upon the statutory records of the assessee showing similar goods sold at different prices and cleared by the assessee to its sister unit and other buyers, could CESTAT, on an appeal by the department for imposition of penalty on the assessee justified in holding that department has not a....

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....ew has been affirmed by the Tribunal. The Tribunal held that difference in price between supplies made to the market and clearances made to the assessee's own unit was for the reason that the goods cleared to its own unit were semi-finished and even when demand was upheld, there could be two views on alleged undervaluation and, therefore, penalty was not justified. 3. Only contention raised in ....