https://www.taxtmi.com/caselaws?id=51493 Processed man-made fabrics must be valued under the Ujagar Prints formula, using the grey cloth value in the processor's hands plus job-work charges, manufacturing expenses and manufacturing profit, not the trader's later profit. On the facts, the majority found no evidence that the trader-supplied declared selling price was incorrect or that shrinkage loss had been ignored, so shrinkage could not be added merely by assumption. The matter was nevertheless remanded for fresh quantification of differential duty and penalty, leaving the arithmetical working to the original authority. en-us Fri, 03 May 2002 00:00:00 +0530 Sat, 25 Sep 2010 11:15:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=51493 Processed man-made fabrics must be valued under the Ujagar Prints formula, using the grey cloth value in the processor's hands plus job-work charges, manufacturing expenses and manufacturing profit, not the trader's later profit. On the facts, the majority found no evidence that the trader-supplied declared selling price was incorrect or that shrinkage loss had been ignored, so shrinkage could not be added merely by assumption. The matter was nevertheless remanded for fresh quantification of differential duty and penalty, leaving the arithmetical working to the original authority. Case-Laws Central Excise Fri, 03 May 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=51493