2002 (9) TMI 438 - AT - Central Excise

Summary

The Revenue appealed against the Commissioner's order demanding duty on lost fabrics due to shrinkage. The Tribunal held that shrinkage must be considered in calculating intrinsic value of cloth. The assessee argued that shrinkage was already accounted for in the profit margin. The Tribunal dismissed the appeal, stating that shrinkage was covered in the profit margin and no further duty was required.