2000 (9) TMI 503

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.... appellants are engaged in the manufacture of Steel Ingots. They are manufacturing the said Ingots out of the raw materials purchased by them from the open market on their own account and selling the same to wholesale independent buyers. There is no dispute as regards the assessable value of the said Ingots being manufactured by the appellants on their own account. However, apart from this, the appellants are also manufacturing Steel Ingots out of the raw materials supplied by their customers, only Conversion Charges being charged by them from their customers. For the purposes of assessable value of the said ingots, they have adopted the same assessable value at which, the Ingots being manufactured by the appellants, are being sold by them ....

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....in the above circumstances. Accordingly, demands have been confirmed against them by including the cost of raw materials, which, in turn is based not on the cost of raw materials actually used in the Ingots, but after taking into account the burning loss arising in the process of manufacture of ingots. 3. We have heard Shri R.K. Roy, ld. JDR for the Revenue. 4. We have given our careful consideration to the arguments advanced from both the sides. The appellants have mainly relied upon the fact that the normal price of their ingots being available, the same should be adopted by the Revenue for the purposes of calculation of duty. However, we find that apart from the fact that the said provisions of Rule 6B of Central Excise V....