TMI Blog2018 (11) TMI 1808X X X X Extracts X X X X X X X X Extracts X X X X ..... ir order dated 28/08/2001. The scheme is effective from 01/04/2001 in terms of Section 4 of the Central Excise Act, 1944 read with Rule 8 of the Valuation Rules, 2000. The valuation of goods cleared from one unit to another belonging to the same manufacture is in the nature of captive consumption and the value is required to made in terms of Rule 8 ibid i.e. @ 115% of the actual production cost, as determined in terms of the CAS-4 standards prescribed. Since the scheme of amalgamation is effective from 01/04/2001, such valuation of goods is required to be adopted with effect from that that. The dispute is essentially for the period 01/04/2001 to 27/08/2001. At the time of clearance of goods, the amalgamation order of the Hon ble High Cou ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Ltd. Unit-II) to amalgamate with the appellant. The Hon ble High Court approved such amalgamation with effect from 01/04/2001 by issue of order dated 28/08/2001. After the amalgamation of M/s. B. B. Forging, clearance of goods from the appellant to the amalgamated entity, were required to be done in terms of valuation adopted under Rule 8 of the Central Excise Valuation Rules, 2000, read with Section 4 of the Central Excise Act, 1944. The appellant took the stand that the amalgamation has been approved by the Hon ble High Court only on 28/08/2001 and hence from such date, the valuation in terms of Rule 8 is required to be adopted. But the Revenue was of the view that since the amalgamation has been made effective from 01/04/2001, the clear ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... bsequently, cleared to B. B. Forging (P) Ltd. for the period from 01/04/2001. The Hon ble High Court of Calcutta has approved the scheme of amalgamation of M/s. B. B. Forging (P) Ltd with the appellant through their order dated 28/08/2001. The scheme is effective from 01/04/2001 in terms of Section 4 of the Central Excise Act, 1944 read with Rule 8 of the Valuation Rules, 2000. The valuation of goods cleared from one unit to another belonging to the same manufacture is in the nature of captive consumption and the value is required to made in terms of Rule 8 ibid i.e. @ 115% of the actual production cost, as determined in terms of the CAS-4 standards prescribed. Since the scheme of amalgamation is effective from 01/04/2001, such valuation of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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