1997 (12) TMI 223

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....the Respondent. [Order per : Justice U.L. Bhat, President]. - The dispute in this appeal arises in relation to the price list filed by the respondent on geared motors, manufactured and captively consumed in the manufacture of signal machines. The price list declared assessable value as sum total of the cost of raw materials, manufacturing cost and 10.10% marginal profit. The balance sheet fo....

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.... over-head 31.75% and profit margin of 6.10%. This proposal was opposed by the respondent. However, the Asstt. Collector barred an order directing the addition of 16.3% as profit margin. This percentage was stated to be the gross profit earned by the respondent on the final product. This order was set aside by the Collector (Appeals) who directed the addition of only 10.10% as margin of profit. ....