TMI Blog2005 (10) TMI 463X X X X Extracts X X X X X X X X Extracts X X X X ..... le, neither the value of comparable goods is available so as to be adopted under the provisions of Rule 6(b)(i) of Central Excise Valuation Rules, 1975. As such, assessable value of these goods is to be calculated on the basis of cost structure in terms of Rule 6(b)(ii) of the Valuation Rules. 2. During the period relevant for the purpose of the present appeal i.e. from 1993-94 to September, 1997, Appellant had declared the price based upon the Chartered Accountant s Certificate. However, on intelligence received that the said goods were being undervalued the appellant s factory was put to search on 7-7-97 and various documents records seized. During post seizure investigations, statements of various persons including the senior manager ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Chartered Accountant as also by Cost Accountant clearly admits that Chartered Accountant Certificate did not consider Administrative overheads treating the same as separate functional costs. Shri Shrinivasan, Senior Manager, Commercial Business, in his statement dated 22-9-97 has admitted the difference between the cost as arrived at in the Chartered Accountant s Certified and the Cost Accountant Certificate and this difference according to him is on account of the fact that cost auditor report was not available at the time of filing declarations to the department as the same is finalized almost six months after the closure of accounts for financial accounting purposes. He also deposed that Cost Auditors Certificate are based on cost ab ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Chartered Accountant s Certificate which did not disclose the break up of how value was arrived at leading to approval of lower value was held not to be sufficient so as not to invoke the longer period of limitation. Reliance was also placed on Tribunal s decision in the case of Lakhanpal National Ltd. v. Commissioner of Central Excise Vadodara - 2003 (160) E.L.T. 446 (Tri.-Mumbai) laying down that price structure submitted to the department not making it clear as to whether the service and handling charges are in addition to the price was sufficient factor to invoke longer period. 6. After hearing both sides on the point of limitation, we find that the Tribunal in the case of Asaware Mills referred supra has observed that the Cost Acco ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Chartered Accountant cannot absolve the assessee from the charge of misdeclaration of facts. To the similar effect is the decision of the Tribunal relied upon by the ld. Dr in the case of F.M.C. Sanmar Ltd. - 2002 (141) E.L.T. 744 (Tribunal). The Tribunal held that Chartered Accountant s Certificate leading to approval of price list, not giving any indication as to how he has arrived at the price and what factors had been included by him to arrive at the cost of the product, cannot be made the basis for holding the demand to be barred by limitation. Such non-disclosure and non-inclusion of all there facts at the time of filing price list is a material suppression of facts. 7. In view of the foregoing, we held that the invocation of l ..... X X X X Extracts X X X X X X X X Extracts X X X X
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