TMI Blog2011 (4) TMI 141X X X X Extracts X X X X X X X X Extracts X X X X ..... l in fovour of the assessee. - E/379/2004 - 538/2011 - Dated:- 19-4-2011 - Ms. JYOTI BALASUNDARAM, Dr. CHITTARANJAN SATAPATHY, JJ. Shri A.B. Niranjan Babu, SDR, for the appellants Shri K.S. Venkatagiri, Adv., for the respondents Per: Jyoti Balasundaram, The Revenue is aggrieved by the order of the Commissioner (A) who had upheld the order of the adjudicating authority regarding valuation of intermediate products manufactured and stock transferred by the assessees from Tiruvottiyur factory to Guindy factory during the period in dispute. 2. We have heard both sides. We find that the issue stands settled in favour of the assesees by Tribunal s Final Order No. 542/10 dated 11.05.10. The relevant extract from the T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The question is how to determine the value of AA Mix 915 type and 1015 type manufactured by National Carbon Plant, for the purpose of payment of duty since the same is not sold but transferred to their Guindy factory and consumed in the Guindy factory. In terms of Rule 8 of Central Excise Valuation Rules, 2000, in such circumstances the value is to be determined based on cost of production + 15% notional margin. In terms of Government of India, Department of Revenue Circular No.692/8/2003 Cx dated 13th February, 2003, the cost of production for the purpose of arriving at the assessable value of goods captively consumed is to be computed in accordance with CAS-4. This standard stipulates that the cost of production shall not include ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nformation and explanations given to us and on the basis of generally accepted cost accounting principles and practices followed by the industry, we have certified the cost of production. The cost of materials consumed includes materials transferred from other units of the company valued as per Cost Accounting Records maintained U/S 209 (1) (d), in accordance with Clause 6 of CAS 4. Certificate indicating the cost of AA Mix 915, AA Mix 1015 and AA Cans are enclosed duly verified and signed by us. 3. It is not the case of the department as seen from the appeal memorandum that as per CAS-4, the cost of material should be the assessable value. We also note that in the case of Union Carbide India Ltd. Vs Collector of Central Excise, Calcutt ..... X X X X Extracts X X X X X X X X Extracts X X X X
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