2003 (1) TMI 176

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....T)]. - The issue raised in all the above Appeals is the same, therefore, it is advantageous to take them up together for consideration. Accordingly, the Appeals of Karam Steel Corporation and Dhiman Industries are also taken up after dispensing with the requirement of pre-deposit along with the Appeal of Surindra Steel Rolling Mills. 2. The appellants are manufacturers of iron and steel products ....

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....f central excise duty on account of adoption of incorrect assessable value. Those proceedings culminated in the confirmation of duty demands on the ground that the assessable value did not include all the elements required to be included in the assessable value. The present Appeals have been necessitated by the duty demands so raised. 3. The contention of the appellants is that there was no short....

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....ss payment of duty could have taken place and the entire reopening of the assessments was unnecessary and without any legal basis. The learned Counsel also pointed out that the lower authorities have grossly misunderstood the ratio of the decision of the Apex Court in the case of Ujagar Prints [1989 (39) E.L.T. 493 (S.C.)] and have fixed the assessable values after making additions to sale prices ....

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.... the present cases, the goods were sold on behalf of SAIL and the appellants paid duty at the time of removal of the goods on the sale price of SAIL. Thus, it is a case where the assessable value included all the costs and profit up to the sale of the goods i.e. the profit of the merchant (SAIL) and not merely the cost of the materials and the cost of conversion by the appellant job workers and th....