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TMI Blog2016 (12) TMI 1684X X X X Extracts X X X X X X X X Extracts X X X X ..... ioner (AR), for the Respondent. ORDER [Order per : Ramesh Nair, Member (J)]. - The appellant is engaged in the manufacture of single yarn which is captively used for the manufacture of double or multi-fold yarn which are consumed for captive use or cleared as such. The dispute is related to valuation of such yarn. Revenue included duty-paid on the single yarn in the cost of the double yarn and a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... stion of adding notional profit of 10%. 3. Shri V.K. Shashtri, learned Asstt. Commissioner (AR) appearing on behalf of Revenue reiterates the findings of the impugned order. 4. On carefull consideration of the submissions made by both the sides and on perusal of the record, we find that the issue to be decided is that, in the case of valuation of double or multi-fold yarn used captivel ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... counts of the assessee. In the present case, it is admitted fact that, as per cost auditor's report, the appellant is bearing losses. Therefore, there is no question of adding 10% notional profit in the value of doubled yarn. We therefore, do not agree with the contention of the lower authority on this count. We hold that neither excise duty suffered on the single yarn, nor 10% notional profit sho ..... X X X X Extracts X X X X X X X X Extracts X X X X
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