9911796707
TMI Blog1998 (9) TMI 242X X X X Extracts X X X X X X X X Extracts X X X X ..... per : U.L. Bhat, President]. The appellant M/s. Diesel Locomotive Works, a unit of Indian Railways, having filed an appeal against Order No. 168-CE/Appl./Alld./93/3428, dated 4-1-1994 confirming the Order-in-Origi- nal No. 21-MP/93-94, dated 29-7-1993 passed by Collector, Central Excise, Varanasi in confirmation of demand of Rs. 2,44,04,820/- has filed the present application seeking waiver ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... um of the total of cost of raw materials and manufacturing cost without adding margin of profit at all. The Asstt. Collector passed approval order on the final price list directing addition of 15% as notional profit in the assessable value. Consequently show cause notice dated 27-3-1992 was issued proposing demand of differential duty on the basis of assessable value determined by adding 15% as no ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The lower authorities proceeded on the basis that the final product can be said to fetch 15% profit. 4. According to Appellant, 15% profit is made on the sale of a few number of Locomotives out of over 700 Locomotives manufactured and cleared during the period and the profit margin on sale of 2% of Locomotives cannot be applied to 98% of the Locomotives which are cleared without sale and at no ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . 5. On consideration of the rival submissions, we are of the opinion that the Appellant has an arguable case in this appeal and since it is clear that an amount of Rs. 27,32,000/- has already been deposited under PLA account, no further deposit is required. 6. Application is allowed and the requirement of pre-deposit or any part of the amount of demand is waived. - - TaxTMI - TMITax - Cen ..... X X X X Extracts X X X X X X X X Extracts X X X X
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