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2015 (7) TMI 892 - SUPREME COURT

2015 (7) TMI 892 - SUPREME COURT - 2015 (322) E.L.T. 167 (SC) - Valuation - Captive consumption - Whether the provision of Rule 6(b)(ii) of the Central Excise (Valuation) Rules, 1975 are applicable to the case at hand or not - Held that:- Under clause (i) of Rule 6(b), the value is to be based on the value of comparable goods produced or manufactured by the assessee or any other assessee. Since there was no such commodity or material available to show the value of any chargeable goods, the case .....

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is clear from the language "which the assessee would have normally earned on the sale of such goods". Thus, the notional profits could be taken into consideration and added while arriving at the value of captive material. This is exactly the exercise that was undertaken by the Department and has been upheld by the CESTAT. - No infirmity in impugned order - Decided against assessee. - Civil Appeal Nos. 7180-7184 of 2005 - Dated:- 16-7-2015 - A. K. Sikri And Rohinton Fali Nariman,JJ. For the Petit .....

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company is engaged in the manufacture of cotton yarn, woven fabrics of cotton, staple fibre yarn and woven fabrics falling under Central Excise tariff headings 5205, 5209, 5510 and 5514 respectively of the Schedule to the Central Excise Tariff Act. The products manufactured by the appellant are leviable to payment of excise duty. The appellant has filed declaration in this behalf with the excise department. It is the admitted case of the appellant that the appellant has been captively using cer .....

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le, as it existed, at the relevant time reads as under:- "6(b) where the excisable goods are not sold by the assessee but are used or consumed by him or on his behalf in the production or manufacture of other articles, the value shall be based- (i) on the value of comparable goods produced or manufactured by the assessee or any other assessee.... (ii) if the value cannot be determined under sub-clause (i), on the cost of production or manufacture including profits, if any, which the assesse .....

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