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TMI Blog2014 (1) TMI 732X X X X Extracts X X X X X X X X Extracts X X X X ..... nces was to be taken on 115% of the cost of production and the cost of production for the purpose was to be determined interest of CAS-4 standard of ICWAI, in term of CAS-4, interest on loan was not includable in the cost - The department itself has accepted that appellants have discharged duty liability on cost of production plus 15% and thus plea in the ROM that the profit margin had not been in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... red to discharge the duty liability on 115% of cost of production. According to the department the appellant had paid the duty on the lower value and on this basis, the Commissioner by the impugned order confirmed the duty demand of Rs.34,38,979/-. From para 4.5.1, 4.5.9 and 4.5.10, it appears that main objection of the department was that while appellant had paid the duty on castings on 115% of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that bulk of duty demands on account of non-inclusive of 15% profit margin in the cost. 3. Heard both sides. 4. Shri M S Negi, learned DR reiterate the grounds mentioned in the ROM application and emphasised that profit margin has not been added in the cost of production and this is a factual mistake in the order which needs to be rectified. 5. Shri B.L. Nasrasimhan, learned advocate appeari ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s and perused the records. From 4.5.9 and 4.5.10 of the impugned order, it is clear that department itself has accepted that appellants have discharged duty liability on cost of production plus 15% and thus plea in the ROM that the profit margin had not been included is not correct. In view of this, we do not find any merit in this application. The same is dismissed. (Pronounced in the open cour ..... X X X X Extracts X X X X X X X X Extracts X X X X
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