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2018 (10) TMI 1321 - AT - Central ExciseValuation - related party transaction - application of Rule 8 and Proviso to Rule 9 of Central Excise Valuation Rules, 2000 - Revenue has raised the demand by loading 10% on the transaction value - Held that:- The department has not worked out that what is the actual cost of the manufacture, on the contrary the appellant have submitted a Chartered Accountant Certificate wherein the cost data was certified which shows that the value as per cost certificate is less than the value charged by the appellant to their customer. They have further obtained a certificate from Cost Accountant which has endorsed the certification of the Chartered Accountant regarding cost of manufacture plus 10% notional profit. When the appellant produced the Cost Accountant Certificate that will suffice - also there is no statutory provision in Valuation Rules that regarding cost of production, Cost Accountant Certificate has to be produced. In the present case, the department has not made any effort to bring on record that the cost of the product produced by the appellant is incorrect. Therefore, in absence of any evidence from the Revenue, the value adopted by the appellant cannot be disputed. Appeal allowed - decided in favor of appellant.
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