https://www.taxtmi.com/caselaws?id=49017 The Larger Bench ruled in favor of the Revenue, affirming the Tribunal's decision that the assessable value of processed fabrics must include the value of pre-shrunk grey cloth, job work, manufacturing profits, and expenses. The appellants' arguments were overruled based on the Supreme Court's precedent. Consequently, the appellants were held liable to pay interest under Section 11AB of the Central Excise Act, 1944, effective from 11-5-2001. Appeals were dismissed, confirming that the value of shrunk fabrics post-processing is not to be considered for assessable value determination. en-us Mon, 31 Jan 2005 00:00:00 +0530 Thu, 06 Jun 2024 15:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49017 The Larger Bench ruled in favor of the Revenue, affirming the Tribunal's decision that the assessable value of processed fabrics must include the value of pre-shrunk grey cloth, job work, manufacturing profits, and expenses. The appellants' arguments were overruled based on the Supreme Court's precedent. Consequently, the appellants were held liable to pay interest under Section 11AB of the Central Excise Act, 1944, effective from 11-5-2001. Appeals were dismissed, confirming that the value of shrunk fabrics post-processing is not to be considered for assessable value determination. Case-Laws Central Excise Mon, 31 Jan 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49017