https://www.taxtmi.com/caselaws?id=72515 In valuation of processed fabrics on a best judgment basis, the assessable value must reflect the intrinsic value of the processed goods under the valuation rules. Where processing is done by an independent processor using its own capital, plant, machinery, dyes, chemicals and labour, and there is no basis to treat the garment exporter as the real manufacturer, the exporter's gross margin of profit is not part of the assessable value. The cost of grey fabrics, transport charges and processing charges may be included, but the exporter's margin does not form an element of the processed fabrics' value. en-us Mon, 03 Jun 1985 00:00:00 +0530 Fri, 20 May 2011 11:34:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=72515 In valuation of processed fabrics on a best judgment basis, the assessable value must reflect the intrinsic value of the processed goods under the valuation rules. Where processing is done by an independent processor using its own capital, plant, machinery, dyes, chemicals and labour, and there is no basis to treat the garment exporter as the real manufacturer, the exporter's gross margin of profit is not part of the assessable value. The cost of grey fabrics, transport charges and processing charges may be included, but the exporter's margin does not form an element of the processed fabrics' value. Case-Laws Income Tax Mon, 03 Jun 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=72515