2003 (9) TMI 650

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....nt. Shri P.M. Mammen, Advocate, for the Respondent. [Order per : S.S. Sekhon, Member (T)]. -   Revenue is in appeal against the order of Commissioner (Appeals) who allowed the manufacturer's appeal. 2. The lower authority had confirmed the demands made on steel billets being converted into rods and bars on 'job work' basis since it was found that the manufacturers had not inc....

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....wn in the Balance Sheet cannot be divided over the total production for arriving at production cost and allowed the appeal. 4. Revenue in the present appeal contended - (i) Amount paid to Electricity Board as power charges have to be considered in costing at actual and Balance Sheet for the year show the same for the year 1997-98 at Rs. 92,92,614/- and considering the total product....

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....it is made clear the assessable value of the processed fabric would be the value of the Grey-cloth in the hands of the processor plus the value of the job work done plus manufacturing profit and manufacturing expenses whatever there may be......" (underlining supplied) one cannot approve the reductions for any of the reasons as arrived at. Of the costs of electricity, from the actuals. Since al....