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TMI Blog2017 (2) TMI 310X X X X Extracts X X X X X X X X Extracts X X X X ..... g at the assessable value they had filed price list under Rule 6 (b) (ii) as comparable goods were not available. They had also enclosed a Chartered Accountant s certificate, from time to time, along with price lists filed by them. Subsequently, it was noticed that during the period 28/02/1990 to 10/06/1992, they had calculated assessable value by taking the profit margin at various rates as a percentage of the cost of manufacturing of steel moulds and socketing machines without considering the depreciation and financial expenses in the assessable value. It was alleged that the depreciation and financial expenses consisting of various percentages of the cost of production as per the profit and loss accounts were required to be added to the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... demand was again confirmed by the Commissioner (Appeals). Aggrieved by the said order, the appellants are before the Tribunal. 2. Learned Counsel for the appellant argued that they had filed price lists along with Chartered Accountant s certificate and the same were approved by the Revenue. He argued that whatever duty was paid by the appellant was available as Modvat credit to the sister unit. When the learned Counsel was specifically asked if the sister unit was able to take credit of the entire duty paid by the appellant. He replied in the affirmative. He further asserted that the goods were in nature of capital goods and even if part of the product manufactured by the sister unit were exempted still the credit of the said duty would h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion. Learned Counsel for the appellant had repeatedly argued that the credit was taken by the sister concerned of the appellant it seems that the said assertion had no basis. 5.1 It is a fact that the appellant had filed price list along with Chartered Accountant s certificate and the same were approved. The assessments were finalised and the RT-12 were also approved. In the show-cause notice it has been alleged that certain expenses viz., depreciation and financial expenses have not been considered in the assessable value. The appellants have vehemently sought the basis of this assertion by the Revenue. They have also sought the data on the basis of which the said expenses have been quantified, in the second round of litigation als ..... X X X X Extracts X X X X X X X X Extracts X X X X
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