https://www.taxtmi.com/caselaws?id=50262 For captively consumed goods valued under Rule 6(b)(ii), assessable value is confined to the prescribed cost of production elements and profit, if any, and cannot be expanded to include sale-price components or general overheads such as labour, direct expenses, administrative charges, travelling, insurance, advertising or interest. The Tribunal distinguished valuation of unsold captive goods from marketed goods, holding that principles relating to advertising and marketing expenses in sold goods do not apply where no sale takes place. It also held that a Section 37B circular could not override the appellate authority's statutory discretion. The department's valuation was therefore unsustainable. en-us Thu, 28 Sep 2000 00:00:00 +0530 Sat, 27 Apr 2024 11:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=50262 For captively consumed goods valued under Rule 6(b)(ii), assessable value is confined to the prescribed cost of production elements and profit, if any, and cannot be expanded to include sale-price components or general overheads such as labour, direct expenses, administrative charges, travelling, insurance, advertising or interest. The Tribunal distinguished valuation of unsold captive goods from marketed goods, holding that principles relating to advertising and marketing expenses in sold goods do not apply where no sale takes place. It also held that a Section 37B circular could not override the appellate authority's statutory discretion. The department's valuation was therefore unsustainable. Case-Laws Central Excise Thu, 28 Sep 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=50262