1998 (9) TMI 242

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.... [Order per : U.L. Bhat, President]. -  The appellant M/s. Diesel Locomotive Works, a unit of Indian Railways, having filed an appeal against Order No. 168-CE/Appl./Alld./93/3428, dated 4-1-1994 confirming the Order-in-Origi- nal No. 21-MP/93-94, dated 29-7-1993 passed by Collector, Central Excise, Varanasi in confirmation of demand of Rs. 2,44,04,820/- has filed the present application seek....

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....ngines as the sum of the total of cost of raw materials and manufacturing cost without adding margin of profit at all. The Asstt. Collector passed approval order on the final price list directing addition of 15% as notional profit in the assessable value. Consequently show cause notice dated 27-3-1992 was issued proposing demand of differential duty on the basis of assessable value determined by a....

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....te parties as 20%. The lower authorities proceeded on the basis that the final product can be said to fetch 15% profit. 4. According to Appellant, 15% profit is made on the sale of a few number of Locomotives out of over 700 Locomotives manufactured and cleared during the period and the profit margin on sale of 2% of Locomotives cannot be applied to 98% of the Locomotives which are cleared w....