1995 (10) TMI 106

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..... tice U.L. Bhat, President]. The department is aggrieved by the order of the Collector (Appeals) by which the order passed by the Asstt. Collector was set aside and the matter remanded to the Assistant Collector. 2. The assessee manufactures bimetallic bearings and bushes in the manufacture of which bimetallic strips are used. In other words, bimetallic strips in this case is an intermediat .....

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..... f the Rules, value has to be determined on the cost of production including profits, if any, which the assessee would have made on the sale of the product. The difficulty in the present case is that there is no market for the intermediate goods in the sense that no manufacturer sells the same and every manufacturer captively consumes the same. It is true that the profit margin for the final produc .....

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..... method, in the circumstances, would be the appropriate and suitable method. While agreeing that the profit margin of the final product cannot be merely adopted, it would not be correct to say that the assessing authority should not have had regard to such profit margin at all. 4. The Assistant Collector has taken some pains to arrive at the profit margin. It is not necessary for us to indicate w .....

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