Per C.N.B. Nair:

The common issue raised in these appeals is whether Board's valuation Circular No. 692/8/2003 dated 13.2.2003 [reported in 2003 (54) RLT M95] on valuation of captively consumed goods is applicable to all pending cases or is applicable only to goods removed for captive consumption from the date of issue of that Circular.

2. The period of removal of the goods for captive consumption in all these cases is prior to the issue of the Circular. The Revenue's contention is that there were previous Circulars also on the subject (No. 258/92/96-CX dated 30.10.96 [reported in 1996 (17) RLTM37], Order No. 24/12/93 dated 31.12.93, F.No. 6/12/87-CX dated 31.3.98, F.No. 6/702/88-CX dated 11.3.88 etc.) and that valuation should be made for a given period in terms of the Circular in force during that particular period. This contention is made on the ground that it is well settled that Circulars are prospective in their operation. Revenue has relied on the judgement of the Apex Court in the case of CCE vs. Eswaran & Sons Engineers Ltd. - 2005 (66) RLT 222 (SC)=2005 (179) ELT 272 (SC) in support of this contention.

3. The contention on behalf of the assessees is that the latest Circ