https://www.taxtmi.com/caselaws?id=525 For captively consumed goods not sold in the market, assessable value under Rule 6(b)(ii) is confined to cost of production or manufacture determined on accepted accountancy principles, together with admissible profit. That cost includes direct material, direct labour, direct expenses and manufacturing overheads actually entering the intermediate goods, but excludes selling and post-manufacture expenses attributable to the final product, such as advertising, insurance and administration. The accounting standard recognised by the professional body and the departmental circular support this valuation approach, so the additional expenses proposed by the Department were not includible. en-us Tue, 01 Aug 2006 00:00:00 +0530 Thu, 11 Jul 2019 11:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=525 For captively consumed goods not sold in the market, assessable value under Rule 6(b)(ii) is confined to cost of production or manufacture determined on accepted accountancy principles, together with admissible profit. That cost includes direct material, direct labour, direct expenses and manufacturing overheads actually entering the intermediate goods, but excludes selling and post-manufacture expenses attributable to the final product, such as advertising, insurance and administration. The accounting standard recognised by the professional body and the departmental circular support this valuation approach, so the additional expenses proposed by the Department were not includible. Case-Laws Central Excise Tue, 01 Aug 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=525