1995 (12) TMI 150

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..... r : Gowri Shankar, Member (T)]. The respondent manufactured urea formaldehyde for captive consumption in the manufacture of plywood. Since the product was liable to duty, the Assistant Collector arrived at its value in terms of Rule 6(b) of the Central Excise (Valuation) Rules. In calculating the cost of production as provided in this rule he added 10% as the normal profit that the assessee .....

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..... t of the Punjab Haryana High Court relied upon by Shri Jain in Food Specialities Ltd. v. Appellate Collector of Central Excise Customs - 1988 (33) E.L.T. 331 did not in fact lay down that an addition of 10% was mandatory, it only confirmed the action of the authorities in adding this figure in the face of a refusal by the assessee to submit even rough figures. In fact this Tribunal has in Appo .....

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..... of actual profit that would have been earned by the assessee if it had sold the goods, based on profits that other sellers of this product had earned. We therefore allow this appeal by remand. 4. The Collector (Appeals) shall determine afresh the actual margin of profit, based on the data that the respondent supplies and, if necessary his own enquiries and shall pass orders in accordance with l .....

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