TMI Blog2013 (9) TMI 497X X X X Extracts X X X X X X X X Extracts X X X X ..... ted the Balance Sheets Profit & Loss Accounts but they had not submitted Unit Trial Balance of the relevant period - applicants were not able to make out a prima facie case of total waiver of duty imposed on them – The balance of convenience was in favour of the Revenue in the case - The applicant was directed to make pre deposit of 25% of duty – Decided partly in favor of assesse. - E/90/2011 - S-1548/KOL/2012 - Dated:- 27-11-2012 - S K Gaule And D M Misra, JJ. For the Appellant : Sri Sanjay Bhowmik, Adv. For the Respondent : Sri S Misra, Addl. Commr. AR Per: S K Gaule : Heard both sides. 2. The applicant filed this application for waiver of pre-deposit of duty of Rs.66.00 Lakhs and equal amount of penalty. 3. The c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... actured and statutory Cost Audit is not prescribed for the said products. M/s. BOC India Ltd. (Plant Manufacturing Works) are also engaged in the manufacturing Cryogenic Vessels of different capacities, besides manufacturing Cryogenic Tanks, Waste Disposal Tanks etc. including accessories and parts. M/s BOC India Ltd. prepared and published Annual Reports Accounts, which included Audited Balance Sheet and Profit Loss Accounts separately, as below: PARTICULARS PERIOD Reports Accounts, 1997 Year ended 30th September,1997 Reports Accounts,1998 Year ended 30th September, 1998 Reports Accounts, 2000 18 months ended 31th March, 2000 Reports Accounts, 2007 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... roduct. Thus, the percentage of overhead cost on the material cost has been wrongly considered as constant over different accounting periods. (iv) The CAS-4 Certificates of the assessee for Vessel VITT/VIE 19 KL, manufactured and cleared during the periods 01-05-2007 to 31-03-2007 and 01-01-2008 indicates that the overhead cost of Rs.10,36,980.00 has been wrongly considered as constant over different accounting periods, viz. Reports Accounts for 9 months ended December 2007 and Annual Reports for 12 months ended December 2008. Incidentally, the total overhead cost for the said two accounting periods were different. (v) in respect of the Vessel VITI 19 KL, manufactured and cleared during the period 01-01-2008 to 31-03-2008, the overhea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ities in the CAS-4 Certificates, submitted by the assessee, have also been found, as for example in respect of Direct Expenses, Works Overhead Expenses etc. 4.27. I find that the faulty CAS-4 Certificates of the assesses, which contain gross irregularities, as discussed and found in the foregoing Para 4.2, cannot be used as instrument in determination of cost of production of the impugned Cryogenic Vessels, whereas cost of production of the impugned goods is required to be determined for arriving at the assessable value of the said goods. Accordingly, M/s. BOC India Ltd., Plant Manufacturing Works, were requested vide letter issued under C No. CE-20 (16) BOC/R-5/Tara-TII/Pt.111/03/1279 dated 01-09-2010 to submit the audited Balance Sheets ..... X X X X Extracts X X X X X X X X Extracts X X X X
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