Alok Singh, J.

1. By way of present writ petition filed under Articles 226/227 of the Constitution of India, petitioner is assailing order dated 28.8.2006 (Annexure P-2) passed by the Customs, Excise & Service Tax Appellate Tribunal (CES-TAT ) Principal Bench, New Delhi.

2. Brief facts of the present case are that M/s. Mohan Bottling Co. engaged in the manufacture of aerated water falling under the head No.22.01 and 22.02 of the Schedule to the Central Excise Tariff Act, 1985. Respondent had failed to include a total sum of Rs.1,16,35,433/- (transportation charges Rs.1,10,58,729/- and notional interest on deposits of Rs.5,76,704/-) in the assessable value of aerated waters cleared during the period 1.3.1994 to 31.8.19997 in contravention of Section 4 of the Central Excise Act, 1944 (herein after referred to as he 1944 Act). Respondent was issued show cause notice for recovery of short paid duty alongwith interest and penal action against him; the Commissioner, Central Excise Commissionerate, Chandigarh-I confirmed the demand of duty of Rs.71,65,816/- and also imposed equal penalty on the respondent vide order No.160- 167/CE/98/859 dated 1.2.1999, which was despatched to the