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2016 (12) TMI 1684 - AT - Central ExciseValuation - manufacture of single yarn which is captively used for manufacture of double or multi-fold yarn which are consumed for captive use or cleared as such - Revenue included duty-paid on the single yarn in the cost of the double yarn and also 10% notional profit for arriving at the value of double or multi fold yarn - Held that: - As regard inclusion of 10% notional profit, we find that there is no statutory provision to include a fixed amount of notional profit in the value of the captively consumed goods. The notional profit can only be added if there is a profit as per the books of accounts of the assessee. In the present case, it is admitted fact that, as per cost auditor’s report, the appellant is bearing losses. Therefore, there is no question of adding 10% notional profit in the value of doubled yarn. Since the duty has to be re-quantified, the matter needs remand to the original authority - appeal allowed by way of remand.
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