9911796707
TMI Blog2011 (2) TMI 1057X X X X Extracts X X X X X X X X Extracts X X X X ..... to April 99 for having not included the elements of interest, profit margin and selling and distribution charges in the value of yarn. It is undisputed that during the relevant period, the respondent had filed price declarations in terms of Rule 173C of erstwhile Central Excise Rules, 1944. The receipts of the declarations have been acknowledged by the jurisdictional authorities on the respective ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... iod from April 98 to April 99 captively consumed yarn to manufacture grey fabrics.The valuation of the said yarn was done as per cost construction basis in terms of Section 4(1) (b) of Central Excise Act 1944 read with Rule 6(b) (ii) of Central Excise (Valuation) Rules, 1975. While doing so, the element of interest on cost @ 5.13% and profit margin @ 1.07% and selling and distribution charges @ 3. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... otice. Since the issue involved in this case lies in a narrow compass, we take up the appeal for disposal in the absence of any representation from the respondent. 5. The learned DR draws our attention to the Grounds of Appeal. His submission is that the adjudicating authority as well as the Commissioner (Appeals) erred in disposing the matter on the ground of limitation. It is also his submis ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ipts of the declarations have been acknowledged by the jurisdictional authorities on the respective column.The price declarations included the details of the cost of the product alongwith a certificate given by a Cost Accountant. We find that the learned Commissioner (Appeals) was correct in coming to the conclusion that the entire demand is hit by limitation. It was for the revenue to raise queri ..... X X X X Extracts X X X X X X X X Extracts X X X X
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