1980 (11) TMI 51

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..... s raised in the revision application. The petitioners declared the cost of oxygen manufactured and captively consumed by them as the assessable value under Section 4 of the Central Excises and Salt Act, 1944. The Supdt. approved the value after adding 15% profit to the cost and on appeal the assessable value was modified by adding only a margin of 5% towards profit to the cost of production. 2. .....

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..... and quality for necessary comparison. Therefore, the Government consider that the value for purpose of Section 4 had appropriately to be arrived at on the basis of cost of production and notional profit. The Government are further of the view that it is the capability to sell and not the actual sale of the goods which would matter in a case like this for purpose of Section 4(a) of the Central Exc .....

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..... e margin of profit to the cost of the goods in his sale price and, therefore, this concept should not be ignored or abandoned in a case where the assessable value had to be determined in respect of the excisable goods captively consumed as in the present case. 4. In view of the above and the fact that Government are satisfied that the margin of profit added to the cost in this case for arriving .....

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