1995 (12) TMI 150 - AT - Central Excise

Summary

The Appellate Tribunal CEGAT, New Delhi heard an appeal regarding the valuation of urea formaldehyde manufactured for captive consumption in the manufacture of plywood. The Assistant Collector and the Collector (Appeals) differed on the percentage of profit to be added to the cost of production. The Tribunal found that the 10% profit margin was not mandatory and remanded the case for determination of the actual profit margin based on evidence provided by the respondent. The Collector (Appeals) was directed to determine the profit margin afresh based on the data supplied by the respondent and pass orders accordingly.