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TMI Blog2015 (11) TMI 1580X X X X Extracts X X X X X X X X Extracts X X X X ..... opose to take the figures of the relevant year for computation of profit margin instead of taking previous year’s profit, as directed in the said circulars. The Dept adopted the method of working out assessable value/margin of profit as follows: cost of concentrated dyes + excise duty on concentrated dyes + cost of formulation = cost of manufacture of formulated dyes; selling price of formulated dyes - cost of manufacture of formulated dyes = manufacturing profit of formulated dyes. In this connection, I am inclined to agree with the notice’s contention that the assessable value/cost of production of concentrated dyes ought not to be worked out on the basis of selling price of formulated dyes.” In grounds of appeal, revenue has not com ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... would then submit that specifically is this case what is required is allocation of expenses as indicated in show cause notice. 4. Learned counsel appearing on behalf of the respondent draws our attention to the findings record by the adjudicating authority. It is his submission that the adjudicating authority has correctly arrived a finding, and further submitted that any excess duty that may be calculated and payable, CENVAT credit can be availed in their own units situated in India. 5. We have considered the submissions made by both sides and perused the records. 6. The issue involved in the case is regarding the value of goods captively consumed, revenue is aggrieved by the order of the adjudicating authority on the ground that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... .143 68.365 488.778 13.99 1983 567.694 42.364 525.330 8.06 1984 630.319 30.219 600.100 5.04 On going through the above tabulated data, it is clear that in respect of only one year, i.e., 1982, margin of profit was 13.99% which exceeded 10% already added by the notice to the cost of production on which duty was already paid. 11.5 I now wish to turn my attention to the month-wise cost of production for the year 1982. Since the Annexure to notice dt 17-8-87 was bgereft of any details with regard to assessable value ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 91861 35977 September 2144915 1949923 2222717 666815 643475 33341 32174 700156 675648 24508 October 2063912 1876284 2138776 641633 619174 32082 30959 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t of manufacture of formulated dyes = manufacturing profit of formulated dyes. In this connection, I am inclined to agree with the notice s contention that the assessable value/cost of production of concentrated dyes ought not to be worked out on the basis of selling price of formulated dyes. 7. As against the above reproduced factual findings of the adjudicating authority, in grounds of appeal revenue has not come with any evidence which is contrary to the findings as recorded herein above. In our considered view, the adjudicating authority was correct in coming to such a conclusion as in the impugned order. 8. In view of the forgoing we hold that the impugned order is correct to the extent contested before us by the revenue is corr ..... X X X X Extracts X X X X X X X X Extracts X X X X
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