2002 (10) TMI 129

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....) (Oral)]. - Both these Revenue appeals arise from a common Order-in-Original No. 4/95 (Collector) dated 26-5-95 by which the Collector of Central Excise & Customs, Trichy had dropped the proceedings against the assessee initiated by the department seeking differential duty on the basis of the revised work sheet on the high sea value of the goods purchased by the importer from MMTC, New Delhi. ....

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....e to the original authority and also they have an undertaking to pay differential duty that may be payable in the event of any variation in the value of the cargo. Later it was found that the respondents had purchased on high sea sale basis at high rate from the MMTC. Therefore, proceedings were initiated for recovery of differential duty. The department proceeded on the premise that the value of ....

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....ssued in 1994 and hence the demand is hit by time bar and in support of their contention they relied upon the decision in the case of Janata Rubber Distributors v. CCE, Calcutta-1 reported in 2000 (125) E.L.T. 671 wherein it has been held that extended period is not invocable where assessee entertained a bona fide belief that the brand name restriction in SSI exemption Notification did not apply i....

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.... pay differential duty and hence the demand is not hit by time bar. 6. On consideration of the submissions made we notice that on merits the issue is covered by the larger bench decision in the case of Eternit Everest Ltd. (supra) in favour of the Revenue and the transaction value in the present case has to be the price at which the respondents had purchased the goods from MMTC and therefore, t....