https://www.taxtmi.com/caselaws?id=104282 Duty on grey fabrics lost during processing due to shrinkage was examined as part of the valuation of processed fabrics. The valuation exercise had already treated shrinkage as a component relevant to the intrinsic value of the grey cloth, and the records showed that profit was loaded at 10% with shrinkage stated to be included in that element. On the facts recorded, the revenue did not establish that the 4.26% shrinkage fell outside the added profit component, so the demand on account of shrinkage was not sustainable. en-us Tue, 03 Sep 2002 00:00:00 +0530 Tue, 28 Feb 2012 15:13:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=104282 Duty on grey fabrics lost during processing due to shrinkage was examined as part of the valuation of processed fabrics. The valuation exercise had already treated shrinkage as a component relevant to the intrinsic value of the grey cloth, and the records showed that profit was loaded at 10% with shrinkage stated to be included in that element. On the facts recorded, the revenue did not establish that the 4.26% shrinkage fell outside the added profit component, so the demand on account of shrinkage was not sustainable. Case-Laws Central Excise Tue, 03 Sep 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=104282