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Case Laws
Showing 121 to 140 of 354 Records
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2003 (6) TMI 352 - CESTAT, CHENNAI
Iodine - Chemical composition - Chemical test - Chemical composition ... ... ... ... ..... it is packed in drums and that the technical literature clearly indicates that the imported item is lsquo crude iodine rsquo . From the Pharmacopoeia of India-3rd Edition-Vol. I, it is seen that iodine is heavy, bluish-black, brittle, rhombic prisms or plates with a metallic lustre odour, characteristic volatile at ordinary temperatures while the crude iodine as in the present case is solid laminated grayish black ones. The test report also clearly indicates that the item is in the form of crude iodine. Revenue has not contested this material evidence and also has not shown that the importer had misdeclared in the shipping documents for availing the benefit of exemption notification. The declarations have been accepted so also the valuation. In a circumstance like this, the finding arrived at by the Commissioner is legal and proper and there is no infirmity in the same. The said finding is required to be accepted by rejecting the appeals filed by Revenue. Ordered accordingly.
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2003 (6) TMI 351 - CESTAT, NEW DELHI
Cenvat/Modvat - Modvat on inputs ... ... ... ... ..... h the notification issued thereunder, entitled the party to take Modvat credit of the duty paid on such inputs used in the manufacture of intermediate product and utilise the same for payment of duty on final product. Significantly, in the orders passed by the authorities below, there is no rebuttal of this plea of the party, nor is there any finding that, for availing the credit, the party did not satisfy the substantive conditions under Rule 57A, viz. to establish the duty-paid nature of the inputs and to have utilised the goods in the manufacture of final products. 4. emsp Following, with approval, the order of the learned Single Member of the Tribunal, cited by the Counsel, we hold that the appellants are entitled to avail the Modvat credit in question. However, we have not found the Board rsquo s circular or the decision in Kamakhya Steels (supra) to be applicable to the facts of this case. 5. emsp In the result, the impugned order is set aside and the appeal is allowed.
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2003 (6) TMI 350 - CESTAT, MUMBAI
Diamonds, rough diamonds - Exemption under Notification No. 247/78-Cus. ... ... ... ... ..... he Baggage Rules may not apply to the goods. We are not concerned here with whether goods could or could not have been rightly imported under the Baggage Rules. We are only concerned with whether the exemption available in the notification should be extended or not. There is nothing in the law prohibiting the applicability of the exemption. It has therefore to be concluded that the exemption would be available to the goods. 8. emsp In its judgment in Montana Valves and Compressors (Pvt.) Ltd. v. CCE - 2002 (145) E.L.T. A164 the Supreme Court has dismissed the appeal filed by Montana Valves and Compressors (Pvt.) Ltd. by observing that the appellant has admittedly played a fraud on the revenue and declined to interfere. We however fail to see how that judgment can justify the Commissioner rsquo s refusing to accept the claim in a proceedings which he was carrying out on the orders of the Supreme Court. 9. emsp The appeal is accordingly allowed and the impugned order set aside.
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2003 (6) TMI 349 - CESTAT, KOLKATA
Confiscation - Betal nuts - Non-notified item - Ownership of goods transported by Rail - Determination of
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2003 (6) TMI 348 - CESTAT, NEW DELHI
SSI Exemption under Notification No. 9/98-C.E.denied ... ... ... ... ..... e without availing the benefit of Notification No. 38/97 that after the said Notification was superseded and new Notification No. 9/98-C.E. was promulgated on 2-6-98, the Appellants have opted for the same by filing the declaration in October, 1998. There is nothing in Notification No. 9/98 which prohibits an assessee to file a declaration after 2-6-98. As per condition 2(i) of the Notification once the option has been exercised by the assessee in writing for availing the exemption under the Notification such option shall be effective from the date of exercise of the option which cannot be withdrawn during the remaining part of the financial year. It is not the case of the Appellants also that the value of the clearances already effected by them would not be counted towards the slabs mentioned in the Notification. Accordingly, we hold that the Appellants are eligible to avail the benefit of the Notification and accordingly we set aside the impugned Order and allow the Appeal.
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2003 (6) TMI 347 - CESTAT, MUMBAI
Import against Advance Licence - Exemption under Notification No. 31/97-Cus. ... ... ... ... ..... states, that the scheme requires for a valid Advance Licence to be produced and debited at the time of clearance. rdquo As we have noted, it exempts material imported into India against an advance licence. This requirement is satisfied. The relevance of the provisions of Section 15(1)(b) of the Act, provided the rate of duty applicable to goods cleared from the bonded warehouse to be one in force on the date when the goods are removed from the bonded warehouse to the facts under consideration escapes us. For the benefit of the exemption to be applied, the goods must be covered by an advance licence. However, for calculating the duty foregone, the advance licence is not necessary. The question of calculation of duty foregone under the ldquo Advance Licence rdquo which the Commissioner refers to does not arise at all and therefore we do not find any absence of cogent reasoning for denying the exemption. 6. emsp The appeal is accordingly allowed and the impugned order set aside.
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2003 (6) TMI 346 - CESTAT, MUMBAI
Provisional assessment - Valuation - Transaction value - Waste and scrap ... ... ... ... ..... waste is not liable to duty will apply. The appellant had various inputs packed in tin, packet etc. this mango pulp for making of beverage in tins. It receives beverage base from which the manufacturer packs it in plastic carboys. Such tins and cartons after they are emptied are not usable and duty has been demanded on the remnants of this container of what we are calling scrap. The ratio of the judgment in Dillon Kool Beverages Pvt. Ltd. v. CCE that the glass is not the result of manufacture would apply to these products. The appellant did not set out the manufacture of any product in the cost of such scrap. The ratio of the decision of the Tribunal in Castrol India Ltd. v. CCE - 1998 (99) E.L.T. 234 will also apply. Counsel for the appellant makes it clear that he is not pressing his case as regards payment of duty on scrap of preforms which the appellant uses to make plastic bottles is concerned. 11. emsp The appeal is accordingly allowed and the impugned order set aside.
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2003 (6) TMI 345 - CESTAT, CHENNAI
Proforma credit - Textile products - Demand - Show cause notice ... ... ... ... ..... otice issued was beyond the period of limitation and their plea is that the corrigendum materially changed the original show cause notice, which they have not explained as noted above. Therefore, the case law does not help them. The assessee-respondents have also taken a plea that so far as Appeal No. 281/99 is concerned, there was no show cause notice issued for disallowance of credit as required under Rule 56A(5). We find force in the plea of the respondents-assessee in this regard that in the absence of a show cause notice as provided for under Rule 56A, the demand cannot be sustained. However, since we have taken a view that proforma credit in respect of the goods lying in stock as on 1-3-94 is available, the grievance of the assessee is taken care of. 8. emsp In view of our discussion in para 6 above, we find no merit in the appeals filed by the Revenue and we uphold the impugned orders of the lower appellate authority and reject the Revenue appeals. Ordered accordingly.
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2003 (6) TMI 344 - CESTAT, KOLKATA
Appeal - Limitation - Delay in filing - Condonation of - Confiscation - Absolute confiscation of the goods - Smuggled goods
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2003 (6) TMI 343 - HIGH COURT OF BOMBAY
Appeals - No further appeal in certain cases ... ... ... ... ..... to appeals which have been filed and were admitted before 1st July, 2002 and are pending for final disposal and that even such appeals would be rendered as not being maintainable. We have reservations about the correctness of the view expressed by the Division Bench. However, we are informed that a reference has been made to a Full Bench in the course of which the Court will decide upon the correctness of the view expressed by the Division Bench. This issue does not arise in the present case since the judgment of the learned single Judge was rendered on 14th February, 2003 which was after the date on which the amended provisions were brought into force. We do not express any final opinion on the wider issue of the position of appeals which were admitted prior to 1st July, 2002, beyond what we have already said, since the matter is awaiting determination before the Full Bench. 17. In the present case, the appeal is not maintainable and is accordingly dismissed on that ground.
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2003 (6) TMI 342 - HIGH COURT OF KARNATAKA
Winding-up - Circumstances in which a company may be wound up ... ... ... ... ..... lso to the decision of this Court in Kamadhenu Enterprises v. Vivek Textile Mills (P.) Ltd. 1982 (1) KLJ 296, wherein their Lordships have observed The Court under section 433 Companies Act is not a Court essentially meant for settling money disputes between parties. The jurisdiction is to subserve the object of winding up the companies which have not paid their debts or which are unable to pay their debts. Therefore, the first prerequisite must be to establish prima facie a debt against the company. But when a claim or debt is disputed, the proper forum for that is a Civil Court . In view of the above discussion and on consideration we find no error or illegality in the order passed by the learned Single Judge so as to call for any interference. Hence this appeal is dismissed. However, as per the direction of the learned Single Judge, the appellant is always free to approach the competent Civil Court or invoke the arbitration clause as the case may be in accordance with law.
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2003 (6) TMI 341 - HIGH COURT OF BOMBAY
Amalgamation ... ... ... ... ..... operties of the promoters or directors of the transferee-company. The allegation that the promoters/direc-tors want to grab the properties and valuable real estate of the petitioner-company is incorrect. The properties would not become the personal pro-perties of the directors but, would become the properties of the transferee-company of which the objectors would automatically become members on the scheme being sanctioned. In the circumstances, the objections are not legal and valid. The Gujarat High Court has already sanctioned the composite scheme in respect of one of the four transferor-companies and the transferee-company. I see no reason to take a different view. 11. In the circumstances, the scheme of arrangement of merger of the transferor company, annexed to the petition as Exhibit E is sanctioned and the petition is allowed in terms of prayer clauses (a) to (i). 12. The petitioner shall pay costs of Rs. 2,500 each to the Official Liquidator and the Regional Director.
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2003 (6) TMI 340 - HIGH COURT OF PATNA
Directors - Remuneration of ... ... ... ... ..... ed for payment of salary and allowances and/or other facilities against the State of Bihar. The claim, if any, can be made only against the Corporation. In para 26 of the counter affidavit it has been stated that the claim of the petitioner was finally considered in the meeting of the Board of Directors on 11-7-1991 vide Item No. 11 of the agenda and finding no justification in the claim the Board was pleased to reject the same after due deliberations. The decision was confirmed in the subsequent meeting on 10-2-1992. In course of hearing of the case it was stated at the Bar that the Corporation has since gone in liquidation and winding up petition has been filed in this Court. In the circumstances, the petitioner has no option but to place his claim in the winding up proceeding, if so advised, in accordance with law. 11. In the result, I do not find any merit in this writ petition which is accordingly dismissed but without any order as to costs. P.N. Yadav, J. mdash I agree.
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2003 (6) TMI 339 - HIGH COURT OF BOMBAY
Amalgamation ... ... ... ... ..... ter taking over the debts of the transferor-company. The balance sheet shows that the transferee company is stronger than the transferor company. The transferor-company is a subsidiary of a transferee-company. It is not shown how the proposed scheme is unjust and unfair to the objecting creditor or to the creditors either of the transferor or transferee-company. Both the companies have positive net worth. It is not shown even prima facie by the objecting creditor that he would be adversely affected by sanctioning of the scheme. 10. No other objection was raised by anybody. In the circumstances, the scheme or arrangement is sanctioned and Company Petition No. 326 of 2003 is allowed in terms of prayer clauses (a) to (e) and Company Petition No. 327 is allowed in terms of prayer clauses (a) to (d). 11. The transferor-company shall pay Rs. 2,500 to the Official Liquidator and Regional Director as costs. The transferee-company shall pay Rs. 2,500 to the Regional Director as costs.
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2003 (6) TMI 338 - HIGH COURT OF BOMBAY
Winding up - Power to apply to Court to have questions determined or powers exercised ... ... ... ... ..... e would still be a balance in excess of Rs. 80 lakhs. This debt is not disputed. By a letter dated 24th March, 2003 (Exhibit Y to the affidavit) the applicant had made a demand. At the end of the said letter of demand, it is mentioned that this demand should be treated as notice under sections 433 and 434 of the Companies Act, 1956. Despite this, only a sum of US 16,000 is alleged to have been paid leaving a balance of Rs. 80 lakhs. Thus, the debt is admitted and it is, not paid despite proper demand. 10. If the applicants were to file the winding-up petition for itself, there would have been no just defence available to the respondent-company for admission of the petition. Hence, the tests laid down by this Court in Harakchand Mansraj rsquo s case (supra) for allowing the substitution are satisfied. 11. In the circumstances, Judges Summons is made absolute in terms of prayer clause (a). Liberty to the applicant to take out appropriate proceedings in respect of other prayers.
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2003 (6) TMI 337 - HIGH COURT OF MADHYA PRADESH
Sick Industrial Company - Winding-up of ... ... ... ... ..... nted out. When the legislative intent is so clear and makes no room for any other interpretation. When one reads section 10 ibid, the orders passed earlier can always be rectified/recalled in the interest of justice and to prevent the error to perpetuate. 6. Accordingly and in view of aforesaid discussion, the prayer made by O.L. is accepted. It is held that this Court (M.P. High Court Indore Bench) is not the concerned High Court within the meaning of section 20 of SICA read with section 10 of the Companies Act. Accordingly, it is not possessed of any territorial jurisdiction to entertain, receive and/or decide the reference sent by BIFR in respect of the Company. The Registry is directed to return all papers received by them from the BIFR in respect of the company to the office of BIFR for being forwarded to Calcutta High Court it being the concerned High Court immediately along with the true copy of the order passed by this court for their record and information. No costs.
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2003 (6) TMI 336 - HIGH COURT OF MADHYA PRADESH
Winding-up - Circumstances in which a company may be wound up ... ... ... ... ..... company whose existence comes to an end on passing of a winding up order. The courts have to be very cautious in their approach while entertaining any winding up petition against any company. No creditor can take advantage of the fact for filing a petition for winding up only because their debtor happens to be a company. Though this is one of the most important factor which enable the creditor to file petition for winding up, but it is equally necessary for the petitioner to make out very strong and prima facie case on facts. 6. As observed supra , when admittedly the petitioner has invoked the provisions of the Arbitration Act then they must exhaust all its provisions for realisation of their alleged dues under an award. A petition for winding up may not be the proper, effective and suitable remedy for realisation of their dues in the garb of seeking winding up. 7. The aforesaid discussion is sufficient to dismiss the petition. The petition fails and is dismissed in limine.
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2003 (6) TMI 335 - HIGH COURT OF MADHYA PRADESH
Winding- up - Circumstances in which a company may be wound up ... ... ... ... ..... wers this Court to dismiss the petition, if it is of the opinion that some other remedy is available to the petitioner for realisation of their dues or that they are unreasonable in pursuing the remedy of winding up. The reason is that winding up of any company is always regarded as an extreme and/or last remedy. It is a death of any company whose existence comes to an end on passing of a winding up order. The Courts have to be very cautious in their approach while entertaining any winding up petition against any company. No creditor can take advantage of the fact for filing a petition for winding up only because their debtor happens to be a company. Though this is one of the most important factor which enable the creditor to file petition for winding up, but it is equally necessary for the petitioner to make out very strong and prima facie case on facts. 7. The aforesaid discussion is sufficient for dismissal of petition. The petition, thus, fails and is dismissed in limine.
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2003 (6) TMI 334 - HIGH COURT OF MADHYA PRADESH
Winding-up - Circumstances in which a company may be wound up ... ... ... ... ..... r one isolated transaction of commercial nature can be entertained. It is a clear case of supply of certain goods and non-payment of its price. There may be several reasons for non-payment. A running company cannot be wound up on such ground. It is a clear case where one can draw an inference that petitioner has been unreasonable in invoking the extreme remedy of winding up only because the respondent happens to be the company under the Companies Act. 4. It is a fit case where the petitioner has to resort to filing of a civil suit and recover the unpaid price of their goods on its proper proving. This court in its special jurisdiction under the Companies Act cannot hold any factual inquiry as to whether goods were supplied, if so, whether they were of required quantity, whether they were supplied in terms of agreement etc.? All these are issues of facts which can only be gone into in civil suit and not in company petition. 5. Petition, thus, failed and is dismissed in limine.
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2003 (6) TMI 333 - HIGH COURT OF ANDHRA PRADESH
Winding up - Circumstances in which a company may be wound up ... ... ... ... ..... ulous company so as to thwart the proceedings before the Company Court cannot stop the Court from proceeding with the enquiry, otherwise it would lead to miscarriage of justice, is also not germane for consideration. It is open to the petitioners to agitate the same before the BIFR or the appellate authority, as the case may be. I, therefore, see no merit in the contention of the learned Counsel for the petitioners. 14. For the foregoing reasons, it is obvious that this Court cannot go into the jurisdictional aspect as to whether the respondent-company is an industrial company or not at this stage having regard to the fact that a reference has already been registered by the BIFR and is pending enquiry for determination as to whether the respondent-company is a sick industrial company or not. Therefore, the proceedings cannot be further proceeded with having regard to the absolute bar engrafted under sub-section (1) of section 22 of the SICA. The point is answered accordingly.
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