Rectification under Rule 8 fails where the record already shows inclusion of profit element in cost of production.

Rectification under Rule 8 failed because no mistake apparent from the record was shown. The record indicated that the assessee had already discharged duty on 115% of the cost of production, and the original proceedings did not dispute inclusion of the profit element. The earlier order had addressed only whether interest on loan formed part of the cost of production under CAS-4, and it held that such interest was not includable. The rectification plea that a 15% profit margin had been omitted was contrary to the record and could not sustain correction of the order.

---

---

Issues: Whether the rectification application disclosed any mistake apparent from the record in the earlier order on the ground that 15% profit margin had not been included in the cost of production for valuation under Rule 8.

Analysis: The record showed that the assessee had already discharged duty liability on 115% of the cost of production, and the departmental findings in the original proceedings did not dispute inclusion of the profit element. The earlier order had proceeded on the basis that the dispute concerned inclusion of interest on loan in the cost of production, which was held not includable under the applicable CAS-4 standard. Since the profit margin was already taken into account, the plea in the rectification application was contrary to the record and did not establish any apparent mistake.

Conclusion: No mistake apparent from the record was shown. The rectification application was dismissed.

---