2026 (8) TMI 13

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Excise<br>Hon'ble Shri Ashok Jindal, Member (Judicial) And Hon'ble Shri K. Anpazhakan, Member (Technical) For the Assessees : Shri Deepro Sen, Advocate For the Revenue : Shri S. Dutta, Authorized Representative ORDER PER SHRI ASHOK JINDAL: The assessee is in appeal against the impugned order wherein a part of the demand has been dropped and a part of the demand has been confirmed, a....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....lated slag for manufacture of Portland cement by the JV. 3. Since the Appellant and JV were &#39;related&#39; persons under Section 4(3)(b) of the Central Excise Act, 1944 being inter-connected undertakings, the Appellant valued the clearances of granulated slag as per Rule 10(b) of the Central Excise Valuation (Determination of Price of Excisable Goods), Rules, 2000) [&#39;Valuation Rule....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....asis the allegation that Rule 10(b) of the Valuation Rules, is applicable only when the goods are solely cleared to interconnected units. It was alleged that the Appellant cleared the goods to the JV as well as independent buyers during the relevant period, and accordingly Rule 10(b) of the Valuation Rules is inapplicable. 3. On going through the facts of the case and after hearing both the sid....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....009-10 to 2012-13. The requisite details have been found from the books of accounts maintained by the appellant, which were made available to the Audit team. Even the proper rectification making entries were put up before them, which was not considered by the Audit team. Being a reputed Public Limited Company, the appellants are required to maintain proper books of accounts as well as rectify the ....