1993 (6) TMI 150

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..... cate and V.R. Joshi, Advocates, for the Applicants. [Order]. - This is an appeal filed by M/s. Paranjape Autocast Pvt. Ltd. against order-in-original passed by the Assistant Collector of Central Excise and Customs, Satara Division, raising upwards the assessable value claimed by the appellants. 2. The brief facts of the case are that the appellants are manufacturers of cast iron castings for m .....

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..... s submitted that Rs. 4.50 per kg. was the price prevalent in September '88 when the rates were high and not in 1989 for which the price list was submitted. It was further stated that this price was inclusive of excise duty and sales tax and therefore cannot be adopted. The case was adjudicated by the Assistant Collector who found that M/s. Mutha Founders Pvt. Ltd. had claimed a price of Rs. 3.58 p .....

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..... ny other assessee and since they have declared the value which means the cost of the goods manufactured by him, the same cannot be ignored by the Assistant Collector. It was argued that in respect of goods captively consumed, the assessable value is to be fixed by adding 10% profit margin to the manufacturing cost as has been held by the Hon'ble Tribunal in the case of Food Specialities Ltd. v. Ap .....

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..... actured by the assessee or any other assessee. The value obviously means the price at which such comparable goods are sold. In this case the department has been able to produce a invoice from M/s. Mutha Founders showing a sale price of Rs. 4.50 per kg. The appellants had produced another invoice of 1988 by M/s. Shell-sand Pvt. Ltd., Pune at the rates of Rs. 2.50 and Rs. 2.60 per kg. These invoices .....

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..... e sale price of M/s. Shell-sand and the manufacturing cost of M/s. Mutha Founders Ltd., the Assistant Collector should be able to find out if there was material difference in the quality or the composition of the sand and he should therefore after ascertaining the respective qualities pass a reasoned order for rejecting or modifying the price claimed by the appellants. 7. The appeal is therefore .....

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