https://www.taxtmi.com/caselaws?id=41825 Processing grey cotton and man-made fabrics on a job work basis was treated as manufacture for excise purposes on the footing that an earlier three-Judge decision had already so held, and that a two-Judge Bench could not depart from that view. For valuation, the assessable value was taken to arise at the factory gate when the processed goods leave the processor's factory; it includes the grey fabric and job work charges, but not the trader's subsequent selling profit, because post-factory profit is extraneous to the processor's assessable value. The matters were referred to a five-Judge Bench for reconsideration of valuation and, if necessary, manufacture. en-us Fri, 19 Dec 1986 00:00:00 +0530 Thu, 20 Jan 2022 18:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=41825 Processing grey cotton and man-made fabrics on a job work basis was treated as manufacture for excise purposes on the footing that an earlier three-Judge decision had already so held, and that a two-Judge Bench could not depart from that view. For valuation, the assessable value was taken to arise at the factory gate when the processed goods leave the processor's factory; it includes the grey fabric and job work charges, but not the trader's subsequent selling profit, because post-factory profit is extraneous to the processor's assessable value. The matters were referred to a five-Judge Bench for reconsideration of valuation and, if necessary, manufacture. Case-Laws Central Excise Fri, 19 Dec 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=41825