https://www.taxtmi.com/caselaws?id=73571 For captively consumed goods, assessable value under the valuation rules had to be based on the cost of production or manufacture of the goods under assessment, including only the normal profit attributable to those goods. Profit from the finished product could not be imported into the valuation of the intermediate goods, so the prior method linking drums or acetylene gas to the profit of the end product was incorrect. Acetylene gas remained excisable despite captive consumption, and its value likewise had to be computed on its own cost and profit element. The valuation orders were set aside and the matters were remanded for fresh computation. en-us Wed, 10 Feb 1988 00:00:00 +0530 Wed, 01 Jun 2011 18:26:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=73571 For captively consumed goods, assessable value under the valuation rules had to be based on the cost of production or manufacture of the goods under assessment, including only the normal profit attributable to those goods. Profit from the finished product could not be imported into the valuation of the intermediate goods, so the prior method linking drums or acetylene gas to the profit of the end product was incorrect. Acetylene gas remained excisable despite captive consumption, and its value likewise had to be computed on its own cost and profit element. The valuation orders were set aside and the matters were remanded for fresh computation. Case-Laws Central Excise Wed, 10 Feb 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=73571