2004 (4) TMI 146

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....ekhon, Member (T)]. - Heard both sides and considered the grounds in Revenues appeal and the cross objection filed by Respondent. It is found - (a)        Assessee is engaged in the manufacture of Fire Protection Systems & Components. They clear the excisable goods to independent buyers as well as supply the same against 'Work Contracts' entered for Turnkey Pr....

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....ntral Excise (Valuation) Rules, 1975 applied seriatim. (c)        Applying the Rules, it is found Rule 4 stipulates that 'value' shall be based on value of like goods sold with adjustments. The respondents contesting that identical goods are not sold. They have not produced any evidence to substantiate the same. The lower authority has fixed the value under Ru....