https://www.taxtmi.com/caselaws?id=84457 Profit is a relevant element in valuing captively consumed goods, because assessable value for goods not sold should reflect cost of production or manufacture including the profit the assessee would normally earn on sale. The profit addition, however, cannot be fixed on an arbitrary uniform rate across all periods. It must be determined period-wise by reference to the actual profit shown in the balance sheet and profit and loss account for the relevant assessment period, rather than by applying a flat percentage for every year. en-us Fri, 22 Sep 1995 00:00:00 +0530 Fri, 22 Jul 2011 11:07:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=84457 Profit is a relevant element in valuing captively consumed goods, because assessable value for goods not sold should reflect cost of production or manufacture including the profit the assessee would normally earn on sale. The profit addition, however, cannot be fixed on an arbitrary uniform rate across all periods. It must be determined period-wise by reference to the actual profit shown in the balance sheet and profit and loss account for the relevant assessment period, rather than by applying a flat percentage for every year. Case-Laws Central Excise Fri, 22 Sep 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=84457