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Pak says it's committed to implement SAFTA; India heading for status of major global manufacturing hub in coming years : Study; Reliance seeks govt nod to sell automobile LPG; PM to launch backward regions devt fund on Monday; |
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| Dear Member, Sending you the following files: |
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2007-TIOL-43-ITAT-DEL.doc + itat story.doc Proviso to Section 14A does not bar the revisionary powers of CIT under Sec.263; Expenditure on replacement of machinery is revenue expenditure; |
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RLT Case law headnote;
Central Excise - Valuation - Stay Applications - Prima facie view that sale prices were effected by relationship - When sale prices are lower on account of noncommercial consideration, profit and loss statement does not reflect the actual state of financial affairs - Contention of financial hardship not accepted - No waiver of pre-deposit; Preparations of meat articles in loose pack – goods correctly classifiable under CET 1601.90 at Nil rate & not under 1601.10 attracting 8% adv; Unit
container is a container containing pre-determined uniform quantities
of contents whereas items cleared by respondents were not in uniform
quantities but of different quantities in plastic bags not sealed
& not containing any pre-printed quantities thereon; Central Excise - Modvat -Sub-rule (3)(c) of rule 57G - The provision does not require that the Bill of entry should be in manufacturer's name who receives the goods - The Bill of Entry would show the name of the importer / its address - In the present case, the name of BHEL is shown as the importer and its Bombay address is given - Giving of address will not invalidate the document so as to disentitle the appellant -manufacturer (BHEL) to take modvat credit when, admittedly, the goods were received at the factory of BHEL at Bhopal- Modvat credit cannot be denied to the appellant due to non-mention of the assessee's unit in the bills of entry; Assessment for period October 1992 to March 1998 finalized only on 16.01.2006 & therefore refund, if any, accrued only on that date – Following HC decision in Standard Drum & Barrel Mfg. Co., bar of unjust enrichment governs all refunds arising out of finalization of provisional assessment after 25.6.1999 – Matter remanded for ascertaining whether incidence of duty has been passed on to customers;
SERVICE TAX SECTION Short payment of service tax - Assessee pleads excess payment during the same period and the same not adjusted by Revenue - Since facts show assessee paid excess tax, stay granted;
CUSTOMS SECTION Customs - Penalty for involvement in alleged smuggling activity - When a grievance of false implication was there, the appellant was neither vigilant nor conscious to exercise his right of appeal expeditiously causing presence for arguing the matter - Statement recorded by the Customs Authority is a piece of proof against the Appellant - In the absence of any evidence contradicting Revenue's finding, the appellant has failed to establish his innocence - Penalty sustained; 2007-TIOL-222-CESTAT-MAD.doc + christian story.doc Customs – Exemption – Where there are two exemption notifications applicable to the goods it is open for the assessee to choose the one of his choice; |
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| Regards
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