2000 (10) TMI 378

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..... P. Devnath, Advocates, for the Respondents. [Order per : C.N.B. Nair, Member (T)]. - Revenue is in appeal. The dispute related to valuation of goods captively consumed. Impugned Order-in-Appeal held that when no profit was, in fact, earned by an assessee, there was no provision in law to make an addition of notional profit. The Commissioner was passing this order by following an earlier order o .....

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..... RLT 145, that when the manufacturer is not making a profit, notional profit cannot be added while fixing assessable value of the goods. He also submits that the decision of the Supreme Court in Assam Valley Plywood Pvt. Ltd. case is no authority for making addition of notional profit inasmuch as their Lordships have made no observation on the addition of notional profit in the judgment. In fact, .....

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..... p;We have perused the records and have considered the submissions made by both sides. It is settled law that in the absence of a profit, no addition towards notional profit can be made while fixing the assessable value of captively consumed goods. This is clear from the provision of Rule 6(b) which speaks of "profits, if any". Several orders of this Tribunal confirm this position. We are in agreem .....

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