2017 (3) TMI 847

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....huraman, Adv. For the Respondent: Shri S. Nagalingam, AC (AR) Per D.N. Panda: Appellant says that it is manufacturer of welding rod and to manufacture that, wire/coils drawn as well MS cuts of wire and blended, flux are used as intermediates. To complete the manufacture of welding rod, it draws wire and blends flux. Revenue alleged that these two products captively consumed were under-val....

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....hould be marketable. If these two cumulative conditions are not satisfied there shall not be levy and accordingly no valuation thereof arises. To say so, learned Counsel relied on following the principle of law laid down by Apex Court in para 7 of the above judgment, which reads as under: "7. As can be seen from the excerpts of the Notification in question, the EMR has been exempted from the pa....

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....known and generally dealt with in the market. It is being manufactured by the respondents for its captive consumption. It is not a product known in the market with any commercial name. "[Emphasis supplied] 3. On the other hand, Revenue says that appellant undervalued the intermediates. That has ultimate effect on the finished goods. Therefore, they should not be any interference adjudication. ....

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....CN that the goods are excisable having been manufactured and forming part of the Tariff Entry and secondly, that the same met the marketability test. It may be stated that burden of proof of marketability always lies on Revenue. Mere assertion in the show-cause notice that the goods are marketable during the material period shall not serve the purpose of law unless the goods in common parlance is ....