https://www.taxtmi.com/caselaws?id=126147 Valuation of captively consumed unmachined castings transferred to sister units had to be worked out under the cost-of-production method, with the costing exercise aligned to accepted accounting principles. The Tribunal treated CAS-4 as the proper basis for determining cost and held that the profit element could not be applied mechanically; the assessee could establish a lower margin if supported by evidence. The assessable value was therefore required to be reworked on this basis, and the matter was remitted to the original authority for fresh determination after hearing the assessee. en-us Thu, 09 Apr 2009 00:00:00 +0530 Fri, 02 Nov 2012 16:42:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=126147 Valuation of captively consumed unmachined castings transferred to sister units had to be worked out under the cost-of-production method, with the costing exercise aligned to accepted accounting principles. The Tribunal treated CAS-4 as the proper basis for determining cost and held that the profit element could not be applied mechanically; the assessee could establish a lower margin if supported by evidence. The assessable value was therefore required to be reworked on this basis, and the matter was remitted to the original authority for fresh determination after hearing the assessee. Case-Laws Central Excise Thu, 09 Apr 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=126147