https://www.taxtmi.com/caselaws?id=84526 Captively consumed wrapper paper valued under Rule 6(b)(ii) of the Central Excise (Valuation) Rules, 1975 had to be assessed on cost of production or manufacture plus the profit normally earned on sale of such goods. The relevant test was the assessee's ordinary earning capacity, not an exceptional loss shown in a particular year. Where comparable goods were unavailable, a reasonable margin of normal profit remained includible even if one year's accounts reflected a loss. The valuation based on the Chartered Accountant's cost certificate and the profit shown in the balance-sheet was therefore treated as proper, and the assessable value fixed below was upheld. en-us Thu, 24 Aug 1995 00:00:00 +0530 Fri, 22 Jul 2011 14:49:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=84526 Captively consumed wrapper paper valued under Rule 6(b)(ii) of the Central Excise (Valuation) Rules, 1975 had to be assessed on cost of production or manufacture plus the profit normally earned on sale of such goods. The relevant test was the assessee's ordinary earning capacity, not an exceptional loss shown in a particular year. Where comparable goods were unavailable, a reasonable margin of normal profit remained includible even if one year's accounts reflected a loss. The valuation based on the Chartered Accountant's cost certificate and the profit shown in the balance-sheet was therefore treated as proper, and the assessable value fixed below was upheld. Case-Laws Central Excise Thu, 24 Aug 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=84526