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TMI Blog2013 (1) TMI 662X X X X Extracts X X X X X X X X Extracts X X X X ..... rofit margin while arriving at the value of the captively consumed goods – Show cause notices were issued demanding differential duty - Held that:- company has been making losses consistently since 1995-96 onwards up to 1999-2000 and the period of demand involved in the case is from April, 1997 to March, 1998. Therefore, it is not a case of the company making a loss for a given year and making pr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Commissioner of Central Excise (Appeals), Mumbai. 2. The brief facts of the case are as follows. M/s. GTC Industries Ltd., the appellant, are manufacturers of cigarettes. The appellant filed a price declaration effective from 15-12-1997 in respect of shells/cut labels and printed sheets captively consumed in the manufacture of their final products, viz. cigarettes. The assessable value of the c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... issioner (Appeals) vide the impugned order rejected their appeal. 3. The learned counsel for the appellant submits that the appellant has been incurring losses continuously from 1995-96 onwards and even upto 1999-2000. Therefore, the question of including any profit element while arriving at the assessable value of the product does not arise. The learned counsel further submits that as per Board ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... onsumed goods, the value has been determined as per CAS-4 and the profit margin has to be decided on the basis of the figures in the balance sheet, on actual basis. 4. The learned SDR appearing for the Revenue reiterates the findings of the lower authorities and submits that as per the Apex Court judgment in appellant s own case reported in 2007 (207) E.L.T. 289 (S.C.) (sic), even if there is a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... other years. Therefore, the ratio of the case law cited by the learned SDR is not applicable. On the other hand, the ratio of the Apex Court judgment in the case of Raymonds Ltd. (supra) applies, wherein the Apex Court held that the profit margin has to be added taking into account the actual profits made in a given year. If that ratio is applied to the facts of the case before us, there is no sc ..... X X X X Extracts X X X X X X X X Extracts X X X X
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