https://www.taxtmi.com/caselaws?id=254064 The Tribunal ruled in favor of the appellant, dismissing the Revenue's appeal. It held that the assessable value of processed fabrics for duty calculation should consider the intrinsic value of grey cloth and any abatement on the profit element. The Tribunal interpreted the remand order, emphasizing the deduction of trader's profit from the assessable value. It affirmed the Adjudicating authority's decision to deduct the profit element of the raw material supplier/trader. Additionally, it clarified that shrinkage in grey fabrics did not affect the specific duty rate applied. The Tribunal found no merit in the Revenue's arguments and upheld the determination of the assessable value. en-us Wed, 09 Apr 2014 00:00:00 +0530 Wed, 14 Jan 2015 18:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=254064 The Tribunal ruled in favor of the appellant, dismissing the Revenue's appeal. It held that the assessable value of processed fabrics for duty calculation should consider the intrinsic value of grey cloth and any abatement on the profit element. The Tribunal interpreted the remand order, emphasizing the deduction of trader's profit from the assessable value. It affirmed the Adjudicating authority's decision to deduct the profit element of the raw material supplier/trader. Additionally, it clarified that shrinkage in grey fabrics did not affect the specific duty rate applied. The Tribunal found no merit in the Revenue's arguments and upheld the determination of the assessable value. Case-Laws Central Excise Wed, 09 Apr 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=254064