TMI Blog2003 (7) TMI 164X X X X Extracts X X X X X X X X Extracts X X X X ..... ged in the manufacture of different items. The goods produced at the appellants' Salt Lake factory (appellants herein) are being cleared by them to their sister concerns situated at Allahabad and Taratala, Kolkata Unit. The dispute in the present appeal relates to valuation of the goods being manufactured by the appellants and sent to their sister concerns. 3. Shri S.K. Bagaria, learned Advocate, for the appellants submits that while arriving at the assessable value of the above goods being manufactured by them in terms of the provisions of Rule 6(b)(ii) of the Central Excise (Valuation) Rules, 1975. The appellants have taken into account the entire cost of the raw materials, manufacturing cost including the administrative cost and overhe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nts appearing in the Annual Report of the Company, which pertains to all the manufacturing units of the Company manufacturing different varieties of goods and having different manufacturing costs, overhead expenses etc. They clarified that it is the actual overhead expenses of the present unit which are to be taken into consideration and not the average percentage of the different elements of the Company, as reflected in their Profit and Loss Accounts. He submits that the arguments were also advanced on the point of limitation as also on the ground that the appellants' sister concern is availing the benefit of Modvat credit of Duty paid by them on the goods in question and as such, there cannot be any motive for undervaluation of the goods ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aken into consideration while arriving at the assessable value of the captively consumed product and not the expenses as reflected in the Balance Sheet of the company as a whole, which means that other units expenses are not required to be taken into consideration. We do not find any discussion on the above point, though the same was taken before him and the attention was also drawn to the various decisions including the Larger Bench decisions of the Tribunal. As such, we are of the view that the law as settled by the above-referred decisions, is required to be applied to the facts of the case and the matter is required to be re-adjudicated by the Commissioner after following the ratio of the said decisions. With this observation, we set as ..... X X X X Extracts X X X X X X X X Extracts X X X X
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