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Case Laws
Showing 81 to 100 of 418 Records
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1999 (4) TMI 580
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... ... ..... as earned. The income-tax assessments done under section 143(1) of the Act were without any inquiry and such assessments without any corroborative evidence, are not sufficient to support the contention of the appellants. The competent authority was justified in rejecting the contention of the appellant, that they were unable to produce any documents as they were seized by the police, in the absence of production of any receipt or panchnama. The appellants sought to file some documents without filing any petition for receiving additional evidence. These documents cannot be looked into. In the absence of any evidence as required by section 8 of the SAFEMA to show that the forfeited properties were not acquired through illegal means, the competent authority was justified in holding that these properties are illegally acquired properties. We see no reason to differ with the findings of the competent authority and we confirm the same. The appeal fails and is accordingly dismissed.
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1999 (4) TMI 579
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... ... ..... ery general law, under section 24. Section 41 of the Transfer of Property Act, 1882, is an exception to the general rule, but has no application to the special provisions under section 11 of the SAFEMA, which in clear terms, lays down that the transfer of any property made subsequent to the forfeiture of the property to the Central Government consequent to the order made under section 7, shall be deemed to be null and void. In view of the clear provision made in the special enactment in section 11 of the SAFEMA, section 41 of the Transfer of Property Act will not come to the aid of the appellant. The question as to whether the appellant is a bona fide purchaser for value without notice, does not fall for consideration. For all the aforesaid reasons, we hold that the sale in favour of the appellant as well as his predecessors in title, were all null and void and hence the appeal has no legs to stand and is accordingly dismissed. Consequently, the stay petition stands rejected.
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1999 (4) TMI 578
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... ... ..... does not arise and, therefore, need not be answered rdquo . (B) Part (ii) of reply to question No. 2 (ii)(a) ldquo In keeping with part (i) of our reply to question No. 1 and part (i) of our reply of question No. 2 in a case where assessment order is passed before the date of filing application under section 245C, the liability of interest under section 220(2), if any, shall be up to the date of order under section 245D(4). rdquo (ii)(b) ldquo In view of part (ii)(a) of our reply to question No. 2 in a case where assessment order is passed after the date of filing application under section 245C the question of liability of interest under section 220(2) does not arise and, therefore, need not be answered. rdquo In view of section 245BD of the Income-tax Act, 1961, the order of the Special Bench shall be the order of the majority of Members of the Bench. The case will now go back to Mumbai Bench for final disposal of the case of Damani Brothers in accordance with this decision.
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1999 (4) TMI 577
Preliminary decree passed by the trial court - allowing the plaintiffs' claim by HC for redemption in respect of mortgaged houses and khudkasht land - Held that:- Appeal dismissed. Not convenient to record that the High Court has decided the issue not in its proper perspective.
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1999 (4) TMI 576
Confiscation and penalty (Customs) - Misdeclaration of value ... ... ... ... ..... r, on payment of higher freight was an error on the part of the supplier. Mukesh Sharma in his statement had not said so, nor has the Commissioner (Appeals) recorded that this plea or was raised before him. Therefore it is not necessary to consider the conclusion on the commentary relied upon by the Commissioner. On the facts before us, it is difficult to escape the conclusion that the increased freight was arrived at mutually between seller and buyer and it has not been in any case claimed or shown due to mistake of shipment by supplier. Therefore the freight actually incurred should rightly form part of the assessable value. Since the part of the freight actually incurred was not disclosed, confiscation of the goods and imposition of penalty are justified. We do not find the redemption fine and penalty to be incommensurate with the gravity of the offence. 6. emsp Accordingly we allow the appeal, set aside the impugned order and restore the order of the Additional Collector.
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1999 (4) TMI 575
Classification ... ... ... ... ..... cle chassis would fall under Tariff Heading 87.04 as contented by the Revenue or would fall under Tariff Heading 87.07 as contended by the respondent herein on the basis of Punjab and Haryana High Court judgment mentioned above. 4. emsp This controversy is no longer res integra in view of Supreme Court judgment in the case of C.C.E. v. Ram Body Builders 1997 (94) E.L.T. 442 (S.C.) 1998 (77) ECR 437 which has held that such bodies built on duty paid Motor Vehicle chassis would fall under Tariff Heading 8707. In view thereof, no further duty liability arises because the benefit of Notification 175/86-C.E., dated 1-3-1986 would be available to the respondents and that has already been extended to the respondents on the basis of the earlier classification list 87.09. Therefore, there is no dispute about the extension of the benefit of the Notification 175/87-C.E. In view of the foregoing discussion there is no substance in Revenue rsquo s appeal. Consequently we dismiss the same.
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1999 (4) TMI 574
Modvat/Cenvat - Modvat on inputs ... ... ... ... ..... artment rsquo s appeal is that the goods falling under this heading cannot be used as inputs in the manufacture of forklift truck since the trucks are classifiable under Heading 84 and not under any of the Headings of 87.01 to 87.05. Forklift trucks have many parts and accessories in common with motor vehicles under 87.01 to 87.05. The manufacturers of such parts would not be in a position to know, when they cleared the goods, exactly to what use the parts and accessories would be put. As long as it is shown that parts in question had not actually been used in or in relation to the manufacture of forklift trucks, the fact of their classification under Heading 87.08 would not by itself for taking credit. Both the Asstt. Commissioner and the Commissioner (Appeals) have emphasised that there is nothing to show that the goods were not or could not be so used. The appeal does not even challenge this finding. I therefore, see no reason to interfere. 4. emsp The appeal is dismissed.
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1999 (4) TMI 573
Rectification of Name of company ... ... ... ... ..... rm a duty within a specified time, the cases established that provisions as to time are only directory. However, if the statutory provision as to time is condition for exercise of a statutory power as distinguished from a duty, the prescription as to time has been construed as mandatory. 34. In my judgment, what is conferred by section 22 of the Act is a discretion to be exercised by the repository of the power on the formation of an opinion. The said power may be exercised suo motu and may be upon an application by an aggrieved person. 35. For all the aforesaid reasons, the relief as prayed for cannot be granted, the period prescribed for the exercise of the power including the extended period having elapsed. 36. In the result, the writ petition must fail and is accordingly dismissed, however without any order as to costs. 37. It must, however, be clarified that nothing contained in this judgment and order shall be construed as decision on the merits of the main controversy.
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1999 (4) TMI 572
Manufacture ... ... ... ... ..... mount to manufacture attracting levy of Central Excise duty remains equally valid under the New Tariff also. The other judgments relied upon by them are also not of assistance to the Revenue, because all these judgments uphold the legal position that a different article having a distinctive name, character or use has to be brought into existence to satisfy the requirement of manufacture and if that does not take place, duty of Central Excise is not attracted. In the instant case, the pipe fittings continue to be pipes for the purpose of carrying liquid and gases even after their conversion to pipe fittings from pipes. Therefore, it is only a change of physical shape and size, adapted and modified for the purpose of specific uses. We, therefore, hold that the requirement of manufacture of new products is not satisfied in the instant case and, therefore, levy of Central Excise duty is not attracted. The appeal succeeds and is allowed with consequential relief to the appellants.
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1999 (4) TMI 570
Transfer of shares - Rectification of register on transfer ... ... ... ... ..... , SEBI will see to it that the notices are decided expeditiously. 220. Liberty to the parties to apply in case of urgency. 221. Mr. Bookwala seeks stay of this order for a period of 12 weeks with a view to file an appeal, if so advised. Looking to the number of issues in this matter as also the voluminous record, the request is granted and this order will remain stayed until 15-7-1999. 222. All the observations made while deciding these motions are on a prima facie basis. As far as the other authorities are concerned, it will be open to them to take their decision so long as they are acting within the four corners of the law. 223. Before I part with all the three motions, I would like to record my deep appreciation for the assistance rendered by all the learned counsel in the matter including the juniors who were assisting them. 224. Accordingly, the three motions stand disposed of. Parties to act on a copy of this order authenticated by the Personal Secretary of this Court.
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1999 (4) TMI 569
Interest - Power of court to allow ... ... ... ... ..... rthermore, in the aforesaid C.M. 7799 of 1998 without prejudice to its rights and contentions respondent No. 3 had agreed to pay interest for the period only from 26-3-1995 to 30-4-1995, to all the debenture holders, who had deposited the allotment money on or before 25-3-1995. There is also no prayer made in the petition for award of interest over interest. The order was passed without noticing the prohibition contained in section 3(3)(c) of the Interest Act. That being so, the part of the order dated 25-9-1998, calling upon respondent No. 3 to pay interest over interest at the rate of 14 per cent till 31-10-1998, deserves to be recalled. 6. Consequently, the application is allowed. The order dated 25-9-1998, is modified to the extent as indicated in the preceding para of the order. Time for making payment of interest by respondent No. 3 for the period from 26-3-1995 to 30-4-1995, at the rate of 14 per cent is extended by two weeks from today. Application stands disposed of.
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1999 (4) TMI 568
Winding up - Circumstances in which a company may be wound up ... ... ... ... ..... I have held that the transaction would be excluded from the definition of lsquo loan rsquo , the petition cannot be dismissed on that count. 17. My attention has also been invited to the order dated 21-12-1998, in Company Petition No. 48 of 1998 wherein in respect of the present petitioners an order admitting the petition had been passed against another group company. I need not go into that aspect of the judgment as independently on the facts of the present case I have held that the petitioners have established that the company is justly indebted to the petitioners. In the light of that the following order (i)The company to pay or deposit Rs. 2,54,54,349.31 within 8 weeks from today. On payment or deposit the petition to stand dismissed. Liberty to the petitioners to withdraw the amount if deposited. (ii)On failure to pay or deposit the petition to stand admitted. Liberty to the petitioners to apply for further directions. 18. Company petition stands disposed of accordingly.
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1999 (4) TMI 562
Natural justice ... ... ... ... ..... adjudicating authority relying on the expert panel report dated 10-4-1995 without giving the same to the appellant. He, therefore, pleads before us that the matter may be remanded back to the adjudicating authority so that he may have full say before him and satisfy the adjudicating authority as to genuineness of the appellants rsquo case. 4. emsp We have heard Shri A.K. Chatterjee, the ld SDR. 5. emsp We are of the view that in this case there has been a failure to natural justice inasmuch as the hearing took place on 6-4-1995 and the adjudicating authority has relied upon the documents which were made after the hearing of the adjudication proceedings namely expert panel rsquo s report dated 10-4-1995. This was admittedly not given to the appellants. Hence we set aside the impugned order and send it back to the adjudicating authority for de novo determination after complying with the rules of natural justice according to law. 6. emsp Appeal is disposed of in the above terms.
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1999 (4) TMI 561
Importer - Deemed importer - Stay/Dispensation of pre-deposit - Financial hardship ... ... ... ... ..... gs into India goods from any place outside India this being the definition of the term ldquo import rdquo in Section 2 the expanded definition of importer as including the owner, any person who holds himself out to be importer prima facie, would apply to goods which are warehoused after importation and cleared from such warehouse by a person other than a person who actually imported the goods. We are not concerned with that type of situation. The judgment Union of India v. Sampat Raj Dugar did not deal with this aspect of the law of being concerned with. rdquo There is nothing to show that the facts were different in this case. 7. emsp Accordingly we direct deposit Rs. 7.5 lakhs by Ishaan Exports, Rs. 6 lakhs by Ashee Exports towards payment of duty and penalty within two months from the receipt of this order. We direct to deposit Rs. 15 lakhs towards penalty by Suresh Agarwal. On such deposits being made, we waive deposit of remaining amounts and stay their recovery thereof.
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1999 (4) TMI 552
Treatment as raw material - Held that:- So far as drilling bits are concerned, they are used to bore, holes in the walls of the mine; the holes are stuffed with explosives and the detonation thereof yields the coal. Their utility is quickly exhausted. It can, therefore, be said that they are consumed in the mining of the coal. To that extent alone can the assessee succeed.
Accordingly, the appeal is allowed, except to the extent that it covers drilling bits
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1999 (4) TMI 551
Amalgamation of companies ... ... ... ... ..... ompany in accordance with the provisions of the Act. If legally Aroras were not members, necessarily no notice was required to be given to the Aroras of any proceedings whatsoever. On the other hand, if Sant was the 100 per cent owner, then it was perfectly valid for Sant to make an application for dispensing with holding of any meetings of the creditors. All the creditors had given consent. The conduct of Aroras in keeping silence for a period of almost 6 to 7 years lends credence to the submission of Mr. Dwarkadas that the application is merely speculative in nature. It has been disguised as a demonstration against a party who is said to have defrauded the court. 22. Keeping the aforesaid facts and circumstances in view, I find no merit in the application. The same is hereby dismissed with costs. 23. At the stage counsel for the applicants prays for stay of the order. I see no justification in the aforesaid request. Rejected. Certified copy expedited. Application dismissed.
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1999 (4) TMI 550
Agreement void where both parties are under mistake as to matter of fact ... ... ... ... ..... ut the date and time for execution of sale deed in their favour after the same has been registered in favour of the Official Liquidator. The Official Liquidator shall take appropriate steps for getting the matter, stated to be pending before the Registrar, expedited and submit a monthly progress report in this behalf on the administrative side. If the applicant fails to make payment in terms of this order, the entire amount deposited by them with the Official Liquidator shall stand forfeited. It is also directed that in the sale deed to be executed in favour of the applicant, a clause, stating that the applicant-company shall be indemnified by UCO Bank as well as HFC, in case any loss is suffered by the auction purchaser for the alleged imperfect title, will be incorporated. UCO Bank and HFC will also sign the sale deed by way of confirmation of their undertaking, noted above. CA No. 379 of 1997 12. As prayed in CA No. 446 of 1997, the application is dismissed as not pressed.
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1999 (4) TMI 539
Valuation - Clearance sale ... ... ... ... ..... ed price list under Part II and the same is required to be accepted as subsequent filing of Price list under Part II has been held by Tribunal as only a procedural lapse, as in the case of Castrol India Ltd. v. C.C.E. (supra). It has also been held that sales made to Industrial consumer, and price arrived at after negotiations with the consumer and after finalisation of the price appellants having given price list under Part II and claimed assessment at lower rate is required to be accepted. It has been held that substantive benefit provided under law cannot be denied so long as it can be established that the parameters which entitled the assessment under Section 4 (1)(b) are satisfied. The learned DR relied upon the judgment in the case of Indian Aluminium Cables Ltd. (supra). The facts in that case are distinguishable from the facts of the present case. In view of the analysis and applying the case laws noted above, the impugned order is set aside and the appeal is allowed.
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1999 (4) TMI 538
Destruction of goods on high seas - Confiscation, fine and penalties ... ... ... ... ..... t for being broken up. Indeed, no such objection has been raised. 20. emsp The other provisions of chapter VI of the Act relating to conveyance carrying imported and export goods also do not place any restriction from the entry of such a vessel. No such permission was required. The permission which was asked for by the ship owner and refused by the Principal Collector therefore was not required to be taken by law. Therefore, the owner of the ship did not contravene any of the provisions of the Act. The ship itself was not carrying the goods liable to confiscation for any reason and the provisions of Section 115 therefore would not apply to it. For this reason, we do not consider it necessary to examine the other arguments raised by the appellants advocate for the ship owner that it was not a conveyance carrying the goods. Penalties were therefore not imposable on any of the appellants. 21. Appeals are therefore allowed. Impugned order set aside. Consequential reliefs, if any.
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1999 (4) TMI 537
Refund - Claim sanctioned and paid by the Department ... ... ... ... ..... the aforesaid grounds. 4. emsp Opposing the contention, learned Advocate, Shri K.K. Anand submits that the question of unjust enrichment does not arise in the present case because the case before the Tribunal is for demand of duty by way of recovery of erroneous refund under Section 11A. It is not a question of pending refund claim under Section 11B, therefore, the concept of unjust enrichment stipulated in Section 11B cannot be invoked in the present case. The refund claim has already been sanctioned and paid, and so far as refund is concerned, it is already a closed matter. 5. emsp We have carefully considered the pleas advanced by both the sides. We agree with the submission of the learned Advocate, Shri K.K. Anand for the respondents. The question of unjust enrichment can only be applied in respect of refund claim under Section 11B and not in receipt of demand of duty under Section 11A. Consequently, the Revenue rsquo s appeal has no substance. Hence, we dismiss the same.
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