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Commissioner of Central Excise, Thane-I Versus M/s. Sandoz (India) Ltd.

2015 (11) TMI 1580 - CESTAT MUMBAI

Valuation - Synthetic Organic dyes captively used in the manufacture of formulation of dyes - addition of profit margin for arriving at assessable value based upon the provisional balance sheet - adjudicating authority has not followed the board circular no. 258/92-96-cs 13-10-1996 while fixing the assessable value - Held that:- I observe that profit before tax on sales of previous year has to be considered while working out the percentage of profit to be added to cost of production in the insta .....

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ted dyes; selling price of formulated dyes - cost of manufacture of formulated dyes = manufacturing profit of formulated dyes. In this connection, I am inclined to agree with the notice’s contention that the assessable value/cost of production of concentrated dyes ought not to be worked out on the basis of selling price of formulated dyes.” In grounds of appeal, revenue has not come with any evidence which is contrary to the findings of the adjuicating authority. Therefore, the adjudicating auth .....

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he Revenue against Order-in-Original No. 176-177/COMMR(AH)050 dated 14/12/2005. 2. Heard both sides and perused the records. 3. The issue involved in this case is regarding the valuation of Synthetic Organic dyes which are capitaly used in the manufacture of formulation of dyes. The period involved in this case is in 1981, 1982&1983 while the show cause notice is issued on 17/8/87. 4. Learned departmental representative would draw our attention to the findings recorded by the adjudicating au .....

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el appearing on behalf of the respondent draws our attention to the findings record by the adjudicating authority. It is his submission that the adjudicating authority has correctly arrived a finding, and further submitted that any excess duty that may be calculated and payable, CENVAT credit can be availed in their own units situated in India. 5. We have considered the submissions made by both sides and perused the records. 6. The issue involved in the case is regarding the value of goods capti .....

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previous year has to be considered while working out the percentage of profit to be added to cost of production in the instant case, since the figures of profit before tax for the relevant year are available from balance sheets for the relevant years, I propose to take the figures of the relevant year for computation of profit margin instead of taking previous year s profit, as directed in the said circulars. I observe that another aspect to be borne in mind is net sales (excluding excise duty). .....

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, margin of profit was 13.99% which exceeded 10% already added by the notice to the cost of production on which duty was already paid. 11.5 I now wish to turn my attention to the month-wise cost of production for the year 1982. Since the Annexure to notice dt 17-8-87 was bgereft of any details with regard to assessable value & repeated entreaties made with the jurisdictional Central Excise Commisssionerate concerned was fruitless. I propose to rely upon the data submitted by the notice which .....

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