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TMI Blog2015 (12) TMI 1353X X X X Extracts X X X X X X X X Extracts X X X X ..... ith Shri Ravi L. Ramanan ORDER Per: M.V. Ravindran This appeal is filed by Revenue against Order-in-Appeal No. CEX.XI/JMJ/36/NSK/ APL/2005 dated 28.02.2005. 2. Heard both sides and perused the records. 3. The issue involved in this case is regarding the inclusion of selling and distribution of expenses and expenses incurred by the corporate office at Nashik during the period October 1997 to J ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s of CAS-4 will apply not only prospectively but also for the period prior to issue of Board's Circular dated 13.02.2003. We reproduce the relevant paragraphs. "4. The case was adjudicated by the Commissioner of Central Excise, Nasik vide order dated 27.04.06 (referred supra). The learned Commissioner observed that the Institute of Chartered Accountants of India had issued Accounting Standards 2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ar No. 692/08/2003-CX dated 13.2.2003 wherein they had directed that cost of production of captively consumed goods will henceforth be done strictly in accordance with CAS 4. On this basis, the learned Commissioner came to the conclusion that Head office administrative expenses, selling and distribution costs, interest etc. are not includable in the assessable value of product used in captive cons ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ad office administrative expenses, interest charges and selling and distribution expenses are includable in the assessable value. In other words what is stated is that CAS 4 provisions will not apply prior to 1.3.2003." 5. In view of the foregoing, we hold that the impugned order is correct and legal and does not suffer from any infirmity. The appeal is devoid of merits and is rejected. Cross Obj ..... X X X X Extracts X X X X X X X X Extracts X X X X
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