https://www.taxtmi.com/caselaws?id=74438 Compounded excise duty on cotton yarn under the special yarn scheme was held not to form part of the assessable value of fabrics, because valuation under Section 4(4)(d)(ii) excludes only duty attributable to the goods under assessment, not duty relating to raw materials used in manufacture. The argument that excise duty could be confined to manufacturing cost and profit was rejected. Proceedings validly commenced under Rule 10 were also held to continue despite later omission of that rule, since repeal or omission does not abate pending proceedings unless the statute so provides. The valuation addition was therefore upheld and the challenge to continuation of proceedings failed. en-us Fri, 19 Jun 1987 00:00:00 +0530 Wed, 08 Jun 2011 18:03:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=74438 Compounded excise duty on cotton yarn under the special yarn scheme was held not to form part of the assessable value of fabrics, because valuation under Section 4(4)(d)(ii) excludes only duty attributable to the goods under assessment, not duty relating to raw materials used in manufacture. The argument that excise duty could be confined to manufacturing cost and profit was rejected. Proceedings validly commenced under Rule 10 were also held to continue despite later omission of that rule, since repeal or omission does not abate pending proceedings unless the statute so provides. The valuation addition was therefore upheld and the challenge to continuation of proceedings failed. Case-Laws Central Excise Fri, 19 Jun 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=74438