TMI Blog2017 (3) TMI 610X X X X Extracts X X X X X X X X Extracts X X X X ..... was placed in the case of Chackolas Spinning And Weaving Mills Ltd. Versus Commissioner of Central Excise, Cochin [2015 (7) TMI 892 - SUPREME COURT], where it was held that the notional profits could be taken into consideration and added while arriving at the value of captive material - appeal allowed - decided in favor of appellant. - Appeal No. E/631/06 - Final Order No. A/86141/2017-WZB/EB - D ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cause notices were adjudicated by the Commissioner who dropped the demand in respect of the year 1981, 1983 1984 on the ground that the profit was 10% or less than that. However, he confirmed the demand for the period 1982, when the actual profit came 13.99% against notional profit of 10% declared by them. The demand for the year 1981 to July 1982 was considered as time barred. The duty therefo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hackolas Spinning Weaving Mills Ltd. 2015 (322) ELT 167 (SC) to assert that notional profit of 10% is sufficient. 3. Learned AR relied on the impugned order. 4. We have gone through the rival submissions. We find that for the past period when the actual profit was less than 10%, notional profit of 10% has been added, however, for the period August, 82 to December, 82 actual profit margin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d under sub-rule (ii) of Rule 6(b). That is, thus, the only provision under which the value could be determined. The only statement of the appellant is that since it was incurring losses in the production of yarn in the previous year it did not include any notional profit while dealing with price of goods under Rule 6(b)(ii) by the Department. That cannot be accepted inasmuch as sub-clause (ii) of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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