2003 (2) TMI 310 - AT - Central Excise

Summary

The Appellate Tribunal CEGAT, New Delhi disposed of the appeal after waving the requirement for pre-deposit. The dispute was about the correct valuation of Cold Twisted Bars (CTD) manufactured as a job work for M/s. Tata Iron and Steel Co. by M/s. Nova Steels. The Tribunal held that assessable value should include raw materials and conversion charges, not profits of the party selling the goods. The impugned order was set aside, and the appeal was allowed.