2006 (11) TMI 206

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..... his goods without profit or at loss. Normally speaking, no businessman would like to sell his goods without adding a reasonable margin of profit - Assistant Collector's decision on valuation of the captively consumed wrapper paper is based on the manufacturing cost of wrapping paper as per Chartered Accountant Certificate produced by the appellants and the manufacturing profit of the said paper as .....

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..... ioner (Appeals) and that of the authority in original relying upon a decision of two Member Bench of the Tribunal in Gabriel India Limited v. Collector of Central Excise, New Delhi, reported in 1999 (106) E.L.T. 167. The Tribunal has not recorded its own findings on merits. 3. In Gabriel India Limited (supra), the Tribunal, relying upon another judgment of the two Member Bench of the Tribunal in .....

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..... to be submitted by the appellant. Accordingly, the appellant succeeds on this ground of valuation. The case is remanded for reconsideration on the question of valuation. Ordered accordingly." 4. Shri K. Radhakrishnan, learned senior advocate appearing for the revenue, has brought to our notice that the authority in original, relying upon a three Member Bench of the tribunal in West Coast Paper .....

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..... ormally earned on the sale of such goods." If an assessee has normally been making profit but in one particular year incurs loss due to some reasons, it cannot be inferred therefrom that the assessee would have normally sold his goods without profit or at loss. Normally speaking, no businessman would like to sell his goods without adding a reasonable margin of profit. The Tribunal held in Appollo .....

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..... e Company for the year ending 30-6-1981. Therefore, there is no reason to interfere with the impugned order upholding the Assistant Collector's decision on valuation of wrapper paper captively consumed under Rule 6(b)(ii) of Valuation Rules. The appeal is accordingly rejected." 5. In view of the fact that the Tribunal has failed to take note of the decision of the three Member Bench in West Coas .....

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