2005 (2) TMI 319

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....oheb Ali M., Member (T)]. - This application for waiver of pre-deposit of duty and penalty arose out of the order of the Commissioner of Central Excise, Daman . The issue pertains to valuation of goods under Central Excise Act read with Central Excise Valuation Rules. 2. After hearing both sides for some time it is found possible to take up the appeal itself with the consent of both sides. We a....

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.... the appeal memorandum, the ld. Advocate for the appellant argued that the Commissioner ignored the principles laid down in the Cost Accounting Standard 4 (CAS 4) while arriving at the value on cost construction method. It was argued that when the case was taken up for adjudication i.e. in June 2004, CAS4 has already come into operation and therefore the Commissioner should have followed the instr....