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TMI Blog2008 (7) TMI 274X X X X Extracts X X X X X X X X Extracts X X X X ..... for determining the assessable value of excisable goods cleared by the assessee to its sister concern - manufacturer unit as well as buyer unit belong to the same company, therefore, a revenue neutral situation exists – assessee’s appeal allowed - E/657/2007 - 772/2008 - Dated:- 23-7-2008 - S/Shri P.G. Chacko, Member (J) and P. Karthikeyan, Member (T) Shri K. Mani, Consultant, for the Appel ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e financial year as the accounting year and the another based on the calendar year as the accounting year, were maintained by the assessee. For furnishing returns to the income-tax department, the assessee had used the accounts maintained financial year-wise which showed a profit of 8% p.a. for M/s. Tenneco RC India Pvt. Ltd. for its four units together. In raising the demand, the excisable goods ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nit had not earned any profit in the material period. The profit of 8% was with reference to the transactions of all the four units belonging to the assessee-company. This profit margin is not relevant for determining the assessable value of excisable goods cleared by the assessee to its sister concern. We find that in the decision of the Tribunal in the case of Jay Yuhshin Ltd. case (supra), ..... X X X X Extracts X X X X X X X X Extracts X X X X
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