2015 (7) TMI 892

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....or the Respondent : Mr K Radhakrishna, Sr. Adv., Mr A K Panda, Sr. Adv., Mr Tara Chandra Sharma, Adv., Mr Ritesh Kumar, Adv., Mr R K Verma, Adv. and Mr B K Prasad, Adv. ORDER The only question of law involved in these appeals is as to whether the provision of Rule 6(b)(ii) of the Central Excise (Valuation) Rules, 1975 (hereinafter referred to as "the Valuation Rules") are applicable to the c....

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....rics, the question of valuation thereof arises while determining the excise duty that was payable on the manufacture of yarn. The respondent-excise department valued the same by applying the provision of Rule 6(b) (ii) of the Valuation Rules. The relevant provisions of this Rule, as it existed, at the relevant time reads as under:- "6(b) where the excisable goods are not sold by the assessee bu....

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....factured by the assessee or any other assessee. Since there was no such commodity or material available to show the value of any chargeable goods, the case was covered under sub-rule (ii) of Rule 6(b). That is, thus, the only provision under which the value could be determined. The only statement of the appellant is that since it was incurring losses in the production of yarn in the previous year ....