9911796707
TMI Blog2008 (7) TMI 128X X X X Extracts X X X X X X X X Extracts X X X X ..... om on the buyers – held that action of department is no correct because weighted average price of inputs procured form different sources should be adopted for valuation – assessee’s appeal allowed - E/4512/2004 - 454/2008-EX/(PB), - Dated:- 2-7-2008 - Ms. Archana Wadhwa, Member (J) and Shri M. Veeraiyan, Member (T) Shri P.K. Mittal, Advocate, for the Appellant. Shri Sanjay Kumar, DR, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d a price declaration (along with the certificate of Chartered Accountant dated 1-4-94) for soap noodles indicating the prices of various raw materials including that of HRBO which was Rs. 13,984.50 PMT and taking 10% as allowance for future increase. On the value of soap noodles so declared duty paid and the soap noodles were cleared to the appellant's other units. (d) On verification by the Ce ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... from their job worker and the other by way of purchase from one Pratap Industries who are actual manufacturer. The price declared by them as on 1-4-94 was correct and the Chartered Accountant's certificate as on 1-4-94 was genuine. The department has taken the peak price in respect of supplies made by Pratap Industries. Valuation adopting the occasional peak prices of the raw material for the ent ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... noodles declared by the appellant was based on the transfer price of the raw material received from the job worker. The adoption by the department of peak prices from one of the buyers and enhancing the assessable value for the entire clearances was also not justified. Appropriate course would have been to adopt only weighted average price of the inputs procured from different sources. We agree w ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
