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2013 (3) TMI 188 - CESTAT NEW DELHIValuation of intermediate product used for captive consumption - Circular No. 258/92/96-CX. dated 30-10-1996 and instruction No. 133/96, dated 27-11-1996 disobeyed - Differential excise duty - as per the department assessee while computing the provisional valuation took into account the margin of profit of spinning division only and ignoring weaving division - Held that:- As decided in CCE, AURANGABAD versus RAYMONDS LTD [2006 (10) TMI 7 - SUPREME COURT OF INDIA] for determination of valuation of intermediate product apart from the profit of manufacturing division of the intermediate product is to be taken into account and not the profit of all the divisions of respondent factory. No merit in the appeals filed by Department. Thus Commissioner (Appeals) allowing the appeals of the respondent with consequential relief can be computed only if an evasion of valuation of intermediate product i.e. yarn is undertaken by the jurisdictional authority to calculate the incidence of excise duty. Accordingly, the jurisdictional Assistant Commissioner directed to recalculate the differential excise duty, if any, payable by the assessee in terms of the observation made in this order.
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