9911796707
TMI Blog2000 (12) TMI 318X X X X Extracts X X X X X X X X Extracts X X X X ..... r per : G.R. Sharma, Member (T)]. This is an appeal of Binny Ltd. This appeal arises out of a finding in the Order-in-Appeal dated 29-3-1995. In this order, the ld. Collector (Appeals) had observed for the reasons stated above, notional profit is reduced from 10% to 1% for inclusion in the assessable value, subject to the above modification the order is maintained . The facts of the case le ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... confirming the other factors, only modified the order of the Assistant Collector to the extent that the margin of profit shall be 1% as against 10% ordered by the Assistant Collector. Being aggrieved by this order, the appellants have filed this appeal before us. 2. Arguing the case for the appellants, Shri V.S. Venugopal, ld. Counsel submits that the appellants are captively using the warped a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s Tribunal in the case of Navyug Laminates [1999 (114) E.L.T. 444] and Hindustan Safety Glass [1997 (94) E.L.T. 650]. Therefore, the demand for differential duty confirmed by the authorities below was not warranted in their case. He, therefore, prays that the appeal may be allowed. 3. Countering the arguments, Shri Sreekumar Menon, ld. SDR submits that differential duty in the instant case has b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rent from what has been now made out by the ld. counsel for the appellants. ld. SDR submits that differential duty has been calculated by taking the price and the quantum of yarn procured from the market and the price and the quantum of yarn produced by the appellants and totaling the two together and then computing duty on it. ld. SDR therefore submits that the authorities below have rightly deni ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... are not determining the value of cotton yarn for purpose of clearance, but we are in the process of determining the value of the warped and wound yarn for the purpose of duty. Therefore, the question of allowing any reduction on account of freight and insurance does not arise in the instant case. We also note that an entirely new set of arguments was addressed by the counsel which have not relevan ..... X X X X Extracts X X X X X X X X Extracts X X X X
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