2000 (10) TMI 378

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... per : C.N.B. Nair, Member (T)]. Revenue is in appeal. The dispute related to valuation of goods captively consumed. Impugned Order-in-Appeal held that when no profit was, in fact, earned by an assessee, there was no provision in law to make an addition of notional profit. The Commissioner was passing this order by following an earlier order of this Tribunal in the case of CCE, Patna v. Sumit .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... rofit, notional profit cannot be added while fixing assessable value of the goods. He also submits that the decision of the Supreme Court in Assam Valley Plywood Pvt. Ltd. case is no authority for making addition of notional profit inasmuch as their Lordships have made no observation on the addition of notional profit in the judgment. In fact, the judgment makes it clear that no opinion can be exp .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ons made by both sides. It is settled law that in the absence of a profit, no addition towards notional profit can be made while fixing the assessable value of captively consumed goods. This is clear from the provision of Rule 6(b) which speaks of "profits, if any". Several orders of this Tribunal confirm this position. We are in agreement with the learned Counsel for the respondent that contrary .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X