COMMISSIONER OF CENTRAL EXCISE, COCHIN Vs. SUCCESS

JUDGEMENT

(1.) THIS is a Revenue appeal against the OIA No. 4 -7 -2003 dated 31 -1 -2003 setting aside the demands confirmed in OIO No. 22/2001 dated 25 -1 -2001. The demands were raised for enhancing the assessable value of Polyester Sewing Thread sold by the assessee to their related person without declaring the same during the period April 1999 to March 2000.

(2.) THE assessee had taken the contention that the price at which the goods were sold to the related person was same as sold to independent buyers. There was no under valuation of the price. The Commissioner (Appeals) accepted their pleading after due examination of the evidence on record. The findings recorded in para 4 and 5 are reproduced herein below: -

(3.) THE learned JDR takes us through the Grounds of Appeal and prays for allowing the appeal on this ground. The Revenue contends that the price sold to the related person cannot be adopted and the price adopted as in the Show Cause Notice should be accepted in terms of OIO. It is also submitted that the Commissioner (Appeals) has not examined the evidence showing clear clandestine and suppressed transaction and realization of sale proceeds in cash and the profits so accrued have been shared by the two parties.