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Service Tax: Service tax liability - valuation - reimbursable expenses cannot be added in the assessable value of the C&F services, service tax is payable only on the commission and not on the reimbursable expenses - Tri

Service Tax: Service tax liability - appellant are only pleading on the principle of revenue sharing without actually elaborating on the nature of agreement - Admittedly the considerations received by appellants are for services. These are taxable services - Tri

Central Excise: Cenvat credit - the credit involved on the inputs lying in stock and destroyed in the fire before being put to use could not be allowed to the Appellant and the same is required to be paid back/reversed. - Tri

Central Excise: Period of limitation - Refund claim - duty paid on discounts which were passed subsequent to the clearance of the goods from the depots - The provision should be read as it is, no addition or subtraction is permitted in understanding its meaning. - No refund - Tri

Central Excise: The evidences in the form of approximation and averaging production as 77.6% and one statement of a Director of the appellant company cannot be called a prudent conclusion of the production estimate - demand set aside - Tri

Central Excise: Manufacture - PET bottle - if they supply pre-form to the job worker to be converted into PET bottles and for the further use in packing the fruit pulp, the same cannot make the appellant -assessee as a manufacturer - Tri

Customs: The case against all co-noticees comes to an end once the order of settlement is passed in respect of the person entitled to file an application before the Settlement Commission and therefore, penalty imposed upon the appellants cannot be sustained - Tri

Income Tax: The entire gamut of action of the assessee in engaging in such big ticket land purchase without employing any fund of his own and almost immediate re-sale thereof clearly demonstrates the implicit intention of the assessee that the transaction entered was nothing but an ‘adventure in the nature of trade’ i.e. a business transaction - Tri

Income Tax: TDS credit - TDS certificate was issued in the name of the previous owner of the bond. - The fact that the TDS certificate refers to assessment year 2005-06 is of no consequence. The fact remains that the assessee has not claimed credit for TDS in any other assessment year. - credit allowed - Tri

Income Tax: Addition u/s 40A(3) - bogus expenditure in cas - assessee has directly deposited the cash in the account of the companies and has produced the sales bills of the company. So in the instant case, there is no evasion of tax by claiming the bogus expenditure in cash - Tri

Income Tax: Understatement of sales consideration - dubious or bogus or collusive transaction - when the prices will go up and down, that may result in gain or loss, it cannot be said that it is colourable device adopted by the assessee - One who deals in shares in the open market, knows the depth of the same and not the AO. - Tri

Income Tax: Since the return of income was filed beyond the period stipulated under section 139(1) of the Act in view of the provisions of section 80AC, is beyond the scope of section 143(1) since there is neither an arithmetical error nor an incorrect claim apparent from the record - AO was not justified in disallowing the assessee’s claim for deduction u/s 80IB(10) - Tri

Service Tax: Whether services provided by the appellant as commission agent for sale of goods of its foreign principal M/s Barco Control Rooms GMBH, Germany on their behalf is to be treated as export of services under Rule 3 of Export of Service Rules, 2005 during the relevant period - Held Yes - Tri

Central Excise: Validity of order directing special audit - Section 14AA of the Central Excise Act, 1944 - The Commissioner has not discussed of the quantum of the duty credit or utilised cenvat credit by the manufacturer - petitioner was not afforded any opportunity of hearing - order of audit set aside - HC

Central Excise: Disallowance of rebate - goods manufactured by SAIL were exported - alleged procedural lapses for the consignment under consideration have not been alluded to or identified - rebate allowed - HC

Central Excise: The assessee cannot be said to be at fault at that time in view of circular of the Board and earlier order of Tribunal in favour of the assessees. Hence, the assessee was not at fault and the extended period of limitation was not available - HC

Customs: To conclude that the imported goods were not PDO but ‘base oil’ and allege mis-declaration on the part of the importer only on the basis of the chemical examiner’s report on one out of three characteristics will not be correct - Tri

Customs: Testing procedure should not be subject to cross-examination by the appellant as the credibility of the test is not in question and a non-expert may not be in a position to query an expert on technicalities - Tri

VAT and Sales Tax: Sale of apartment - agreement to sell the apartment - works contract - the petitioner does not become works contractor, unless there are materials to indicate that the petitioner had already entered into a contract with potential purchasers - HC

VAT and Sales Tax: Works contract - valuation - the deduction under the VAT act would be either on the actual value of labour, services and other like charges; or it would be at the prescribed percentage, in such cases where the charges towards labour, services etc. are not ascertainable from the terms and conditions of the contract - HC

More Highlights

Co. Law - Companies (Management and Administration) Amendment Rules, 2016- No. - F. No. 1/34/2013 CL-V-Part-I Dated: 23-9-2016

Cus - U/s 25(1) in Customs Act 1962 Amendments in various Notifications- No. - 52/2016 Dated: 23-9-2016

Cus - Seeks to further amend notification No.12/2012-Customs dated the 17th March, 2012, so as to: 1. Reduce import duty on potatoes from 30% to 10% up to 31.10.2016. 2. Reduce import duty on wheat from 25% to 10% up to 29.02.2017. 3. Reduce import duty on palm oil from 12.5% to 7.5% for crude palm oil of edible grade, and from 20% to 15% for refined palm oil of edible grade- No. - 51/2016 Dated: 23-9-2016

IT - Section 35AC - Eligible projects or schemes - recommendations of the National Committee for Promotion of Social and Economic Welfare- No. - 61/2016 S.O. 3018(E) Dated: 22-9-2016

Cus - Seeks to further amend notification No. 12/2012-Customs dated 17.03.2012- No. - 50/2016 Dated: 22-9-2016

ST - Seeks to exempt taxable service provided by State Government Industrial Development Corporations/ Undertakings by way of granting long term (thirty years, or more) lease of industrial plots to industrial units from so much of service tax which is leviable on the one time upfront amount (called as premium, salami, cost, price, development charges or by any other name) payable for such lease- No. - 41/2016 Dated: 22-9-2016

Cus (NT) - Rate of exchange of conversion of the foreign currency with effect from 23rd September, 2016- No. - 122/2016 Dated: 22-9-2016

CE (NT) - Seeks to amend Cenvat Credit Rules, 2004 so as to amend the requirement of enclosing photocopies of the railway receipts (RRs) with the STTG certificate-reg.- No. - 45/2016 Dated: 20-9-2016

FTP - Import policy of Worked monumental or building stone (except slate) and articles thereof, other than goods of heading 6801; mosaic cubes and the like, of natural stone (including slate), whether or not on a backing; artificially coloured granules, chippings and powder, of natural stone (including slate)- No. - 29 (RE-2015)/2015-2020 Dated: 17-9-2016

FTP - Import policy of Worked monumental or building stone (except slate) and articles thereof, other than goods of heading 6801; mosaic cubes and the like, of natural stone (including slate), whether or not on a backing; artificially coloured granules, chippings and powder, of natural stone (including slate)- No. - 28 (RE-2015)/2015-2020 Dated: 17-9-2016

More Notifications

Customs - Incorrect simultaneous issuance of dual benefit of Zero duty EPCG and SHIS to exporters under the FTP 2009-14 - option providing flexibility to return either benefit - No. - 45/2016 Dated: 23-9-2016

DGFT - Amendment in ANF-5A [Application for issue of EPCG Authorisation] incorporating the guidelines for designating/certifying a Common Service Provider (CSP) under Para 5.02 (b) of FTP 2015-20 - No. - 33/2015-2020 Dated: 23-9-2016

DGFT - Clarification in respect of definition of service provider under Common Service Providers (CSP) in Export Promotion Capital Goods (EPCG) scheme - No. - 18/2016 Dated: 23-9-2016

Customs - Setting up of 'Customs Clearance Facilitation Committee' (CCFC) for Land Customs Stations and Inland Container Depots - No. - 44/2016 Dated: 22-9-2016

DGFT - Merchandise Exports from India Scheme (MEIS)—Additions/amendments in Table 2 [containing ITC (HS) code wise list of products with reward rates] of Appendix 3B - No. - 32/2015-2020 Dated: 22-9-2016

DGFT - Refund of Terminal Excise Duty (TED) under Deemed Exports where Duty has been paid from CENVAT Credit and ab-initio waiver is not available. - No. - 17/2016 Dated: 22-9-2016

Income Tax - Order under section 119 of the Income-tax Act, 1961 - Income Declaration Scheme, 2016 - No. - F.No.282/227/2016-IT (Inv.V) 26/2016 Dated: 21-9-2016

Central Excise - Non compliance of the sub-section 2 of Section 32K of Central Excise Act, 1944 also made applicable to Service Tax matters by virtue of Section 83 of the Finance Act, 1994 and sub-section 2 of Section 127H of the Customs Act, 1962-lmmunity granted to a person from prosecution, penalty and fine - No. - F. No. 275/29/2016-CX.8 A Dated: 21-9-2016

Central Excise - Service Tax Certificate for Transportation of goods by Rail (STTG Certificate) - No. - 1048/36/2016-CX Dated: 20-9-2016

Central Excise - Rebate of duties paid on raw materials used in manufacture or processing of export goods and admissibility of duty drawback in such cases - No. - 1047/35/2016-CX Dated: 16-9-2016

More Circulars

Commerce Minister Nirmala Sitharaman announces setting up agencies for aquaculture and fisheries in coastal states

GST threshold fixed at ₹ 20 lakh in GST council's meet, rate to be decided in October

Central Board of Direct taxes (CBDT) Signs Five (5) more Unilateral Advance Pricing Agreements (APAs); Total Number of APAs Entered Into by the CBDT Reaches 103

RBI Reference Rate for US $

Government decides to shift the issue date of the Sovereign Gold Bonds 2016-17 Series-II from September 23, 2016 to September 30, 2016 in view of large number of applications being received by banks and post offices

RBI Reference Rate for US $

More than ₹ 820 crore expected to be realised through Fifth Tranche of Sovereign Gold Bond (SGB) Scheme from 1st to 9th September, 2016; This is mobilised through over 2.00 lakh applications representing around 2.37 tonnes of gold; The next tranche of SGB Scheme is expected around the third week of October, 2016, prior to Diwali, with additional features to attract more consumers.

FM: Infrastructure is key to growth of economy; An institutionalized forum amongst BRICS countries could serve as a regional knowledge hub with exchange of information facilitated through cloud sharing and other electronic methods.

Commerce and Industry Minister says that the Government is focussed to spend on infrastructure in a big way to create smooth logistics experience for industries

Government announces enhanced support under Merchandise Exports from India Scheme (MEIS) of the Foreign Trade Policy

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2016 (9) TMI 1007 - GUJARAT HIGH COURT

PRUDENT FINANCE PVT LTD Versus ASSISTANT COMMISSIONER OF INCOME TAX (OSD)

Income Tax: Reopening of assessment - disallowance of loss - Held that:- Assessing Officer examined the issue at length in the original assessment order and came to the conclusion that the transactions were not off market transactions and that therefore, the loss suffered by the assessee cannot be disallowed. Whatever be the validity of such findings, surely the Assessing Officer himself cannot question the same by issuing the notice for reopening, that too without there being anything a.. ....

2016 (9) TMI 1006 - MADRAS HIGH COURT

M/s. Neelgiri Engineering Co. Private Limited Versus The Income-Tax Settlement Commission, The Union of India, The Commissioner of Income Tax-I, The Assistant Commissioner of Income Tax

Income Tax: Terminal date for the purpose of charging interest under Section 234-B - Settlement Commission - Held that:- Identical issue was raised before this court in R.Vijayalakshmi vs. Income Tax Settlement Commission Additional Bench and others [2016 (8) TMI 657 - MADRAS HIGH COURT] and ultimately it was held that the Department will be entitled for interest only as ordered by the Commission while passing the order under section 245D (4) of the Income Tax Act.

2016 (9) TMI 1005 - GUJARAT HIGH COURT

Pr. Commissioner of Income Tax Versus Ilakshi Syntetics Pvt. Ltd.

Income Tax: Addition on account of unsecured loans from sister concerns - genuineness of the transactions - Held that:- The assessee has discharged its liability to establish that the transactions were genuine. In absence of certain records which were destroyed due to floods, the assessee had produced alternative materials and evidences which were found to be satisfactory. - Decided in favour of assessee.

2016 (9) TMI 1004 - KERALA HIGH COURT

MOIDU'S MEDICARE PVT. LTD. Versus THE COMMISSIONER OF INCOME TAX (APPEALS) -I, THE ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE- (1) , KOZHIKODE

Income Tax: Revision u/s 263 - Deprecation claim - whether entire hospital building of the appellant is not eligible to be treated as a plant for the purpose of granting depreciation - Held that:- The question to be examined is whether as held by the Apex Court in Karnataka Power Corporation (2000 (7) TMI 72 - SUPREME Court ) the building has been so planned and constructed as to serve an assessee's special technical requirements. On such consideration, if a factual finding has been arri.. ....

2016 (9) TMI 1003 - ITAT AHMEDABAD

Hasumatiben Dahyabhai Mistry Versus The ITO, Ward-9 (2) , Surat

Income Tax: Rectification application u/s. 154 - Held that:- There is no dispute that the impugned assessment year is the first year of filing electronic return. The Central Board of Direct Taxes has also issued a circular no. 6/2008 dated 18-07-2008 advising the assessees to retain with themselves all annexures relating to computation of income, TDS/TCS certificates, challans, counterfoils relating to advance and self assessment taxes and audit report to be produced as and when called b.. ....

2016 (9) TMI 1002 - ITAT PUNE

Dilip Battu Karanjule Versus The Income Tax Officer, Ward 5 (2) , Pune

Income Tax: Gain arose on sale of the rural agricultural lands - Held that:- We have no hesitation to hold that the impugned land was purchased with an intention to sell the same to the identified buyers to achieve commercial objectives outright. As noted earlier, section 2(13) of the Act seek to explain the term of ‘business’ by way of inclusive definition. As per section 2(13) expression ‘business’ include not only trade or commerce, etc. but definition further extends to encompass wit.. ....

2016 (9) TMI 1001 - ITAT PUNE

M/s. Daptary’s Realtors Pvt. Ltd. Versus ITO, Ward – 1 (2) , Nashik

Income Tax: Levy of penalty u/s. 271(1)(c) - eligible for deduction u/s. 80IB(10) - Held that:- It is a well settled law that where the issue is debatable, penalty cannot be levied. In the case of assessee the Tribunal has held the additional income declared by assessee on account of extra sale consideration to be assessed under the head ‘Income from other sources’. Whereas, there are decisions of the Tribunal where on-money declared during search was held to be business income and the a.. ....

2016 (9) TMI 1000 - ITAT KOLKATA

M/s. Crony Enterprise, Chakdola More, Dist. Burdwan Versus Income Tax Officer, Ward-1 (3) , Asansol

Income Tax: Disallowance u/s 40A(3) - Held that:- In the present case, the following facts are not disputed. 1) The APPELLANT is a resident of CHAKDOLA village and he carries out his business of distribution of Kerosene Oil, from the said village, distributing the same to various M R shops in the region. 2) The said CHAKDOLA vii/age is located in a remote corner s of the District of Burdwan, nearest town being Jamuria s situated about 5 KM away , and the nearest 'bank located at Ja.. ....

2016 (9) TMI 999 - ITAT MUMBAI

Central Bank of India, Attn: Central Accounts Department Versus DCIT Range- 2 (1) , Mumbai and Vica Versa and Others

Income Tax: MAT applicability u/s 115JA/115JB - Held that:- Provisions of section 115JA/115JB are not applicable against the Assessee- Bank.

2016 (9) TMI 998 - ITAT VISAKHAPATNAM

Bhavani Castings Ltd. Versus CIT, Rajahmundry

Income Tax: Revision u/s 263 - correctness of building maintenance expenditure, interest and finance charges, pre-paid expenses, sales commission, re-payment of loans, advance against purchase of raw materials and payments made to specified persons u/s 40A(2)(b) - Held that:- Unless the order passed by the A.O.is erroneous and prejudicial to the interest of the revenue, the CIT cannot assume jurisdiction to revise the assessment order, this is because the twin conditions i.e. the order .. ....


More Income Tax Cases


2016 (9) TMI 985 - MADRAS HIGH COURT

The Karur Vysya Bank Ltd. Versus The Commissioner of Income-Tax, Trichy

Wealth tax: Reopening of assessment - claim of deduction of proportionate liability from the gross wealth of the appellant - Held that:- When once all the assets of the business are sought to be valued, the necessity to undertake individual or proportionate distribution of the debts is not required to be undertaken separately. It is a fundamental principle of law that no part of a Statute should be construed as carrying no meaning at all. Every provision must be construed as intended to.. ....

2016 (9) TMI 243 - ITAT HYDERABAD

Wealth Tax Officer, Ward 16 (2) Hyderabad Versus M/s. Nikhila Estates (P) Ltd.

Wealth tax: Nature of land - wealth assessment - “urban land” - Held that:- We find that the asset considered for wealth tax by the AO is claimed to be agricultural land by the assessee. Before the CIT (A), assessee has allegedly filed copies of the sale deeds and also pahanis for the relevant A.Ys. However, we find that the CIT (A), has neither verified the veracity and authenticity of the said documents by herself, nor has she called for a remand report from the AO. We find that she .. ....

2016 (9) TMI 186 - ITAT HYDERABAD

M/s. Siseri Agro Farms P. Ltd. And 40 Others Versus Assistant Commissioner of Wealth Tax, Central Circle-3 (2) , Hyderabad.

Wealth tax: Nature of land - whether the said lands fall within the definition of ‘Urban land’, so as to bring it to wealth tax? - Held that:- The issue whether the said lands fall within the definition of ‘Urban land’, so as to bring it to wealth tax require re-examination by the Assessing Officer in the light of the fact that Bachupally village is not in the Qutubullapur Municipality and also not one among the 8 Gram Panchayats notified in 16.04.2007 notification. Moreover, the said no.. ....

2016 (9) TMI 29 - GUJARAT HIGH COURT

PRINCIPAL COMMISSIONER OF WEALTH TAX Versus SHATRUSHLYASINJI D JADEJA

Wealth tax: Powers of Commissioner to revise orders of subordinate authorities - Held that:- As twice at the instance of the assessee, Commissioner, in exercise of powers under sub section (1) of Section 25, had directed the Assessing Officer to carry out fresh valuation of the lands of the petitioner on the basis of the directions given by CWT (Appeals) in case of the assessee himself for the assessment year 1992-93. It was pursuant to such directions that the Assessing Officer had carr.. ....


More Wealth tax Cases


2016 (9) TMI 1028 - BOMBAY HIGH COURT

Mumbai International Airport Private Limited, C.J. Leasing (Cayman) Ltd. And Another Versus Commissioner of Service Tax And Others

Service Tax: Auction of aircraft to recover service tax dues - rights of bidder - non-deposit of amount since the sale was not confirmed - Seeking recall of its earlier order and permission to Applicant/Respondent No. 1 to conduct fresh auction of the concerned aircraft. - in earlier order this court passed an order allowing confirmation of the sale of concerned aircraft upon acceptance of the highest bid of one M/s. SGI Commex Limited - limit has been already sets out in Draft Disposal .. ....

2016 (9) TMI 1027 - MADRAS HIGH COURT

M/s. Aqua Designs India Pvt. Ltd. Versus Principal Commissioner of Service Tax

Service Tax: Maintainability - other remedies available to the petitioner - petitioner seeking permission to bypass the appellate remedy available to the petitioner under the provisions of the Act by approaching the CESTAT - petitioner submitted that the impugned order is a result of grave inconsistencies - disregard of voluminous evidence furnished by the petitioner - Held that:- it is beyond dispute that to test the correctness of the impugned order, a thorough probe into the factual ma.. ....

2016 (9) TMI 1026 - BOMBAY HIGH COURT

Cavim Properties Private Limited & Another Versus The Union of India & Others

Service Tax: Validity of attachment orders - recovery of service tax dues - dispute is whether the petitioners have cleared the entire sum of ₹ 3,41,82,926/or anything is balance. - Held that:- we do not approve of the conduct of the respondents in the peculiar facts of continuing with the attachment, though the petitioners have paid substantial sums by a voluntary disclosure of the dues and secondly, under protest. The Judgments of this Court, time and again, lay down the principl.. ....

2016 (9) TMI 1025 - CESTAT NEW DELHI

CCE, Indore Versus M/s Virmani Enterprises

Service Tax: Service tax liability - valuation - inclusion of reimbursement of expenses - clearing and forwarding services - gross amount received by the respondent while providing the C&F service - Held that:- by following the decisions of the Hon'ble High Court of Delhi in the case of Intercontinental Consultants & Technocrats Pvt. Ltd, Vs. UOI [2012 (12) TMI 150 - DELHI HIGH COURT] and also the decision of Hon'ble Madras High Court in the case of Commissioner of ST, Chennai Vs. Sangami.. ....

2016 (9) TMI 1024 - CESTAT NEW DELHI

M/s Max Logistics Limited Versus CCE, Jaipur

Service Tax: Service tax liability - revenue sharing arrangements - Whether or not the appellants rendered any taxable services under the category of BAS and if so whether the demand has been made within the permissible time limit in terms of Section 73 - full value of consideration for taxable service as received by RSIC from various ICD users has suffered service tax and RSIC remitted the same to the Government - Held that:- it is clear that the appellants were to market the ICD service.. ....

2016 (9) TMI 1023 - CESTAT NEW DELHI

M/s. Sarvmanlga Construction Co., M/s. Barbrik Project Ltd. and M/s. Madan Lal Agrawal Versus C.C.E. & S.T., Raipur

Service Tax: Classification and Taxability - mining service - service provided by the appellants for transportation of goods within the mining area - Held that:- the issue involved in this case is squarely covered by the decision of the Tribunal in the case of Arjuna Carriers Pvt. Ltd. Vs. CST, Raipur [2014 (11) TMI 1048 - CESTAT NEW DELHI] wherein it has been held that mere handling of coal and movement of the same through the motor vehicles or any other means of transport would not con.. ....

2016 (9) TMI 988 - CESTAT ALLAHABAD

M/s HCL Technologies Ltd. Versus Commr. of Customs, C. Ex. & S. Tax, Noida

Service Tax: Refund claim - Cenvat Credit lying unutilised in their books of account - for the period of April 12 to June 12 - export of information technology software service and business support service and availing Cenvat credit of service tax on input service - Held that:- it is found that both the orders passed i.e. one is in the appeal filed by the assessee on inadmissibility of refund claim of ₹ 55,30,685/- and other is in the appeal filed by Revenue on admissibility of ref.. ....

2016 (9) TMI 987 - CESTAT ALLAHABAD

M/s Concrete Udyog Ltd. Versus Commr. of C. Ex. & S. Tax, Kanpur

Service Tax: Demand alongwith interest and penalty - Work Contract Service - work of clearing/ supplying laying and jointing the concrete pipes, construction of concrete cradle bedding for these pipes and other related works as a contractor for U.P. Jal Nigam - received payment for such work - Held that:- we deem it fit and proper in the interest of justice and accordingly, set aside the impugned order and remand the matter back to the Ld. Commissioner/ adjudicating authority for a denovo.. ....

2016 (9) TMI 986 - CESTAT ALLAHABAD

M/s Barco Electronics Systems Pvt. Ltd. Versus Commissioner of Custom, Central Excise & Services Tax, Noida

Service Tax: Whether services provided by the appellant as commission agent for sale of goods of its foreign principal M/s Barco Control Rooms GMBH, Germany on their behalf is to be treated as export of services under Rule 3 of Export of Service Rules, 2005 during the relevant period, i.e. 01.04.2006 to 31.03.2011 - Held that:- the issue herein is squarely covered by the precedent ruling of this Tribunal in the case of Microsoft Corporation (I) (P) Ltd. [2014 (10) TMI 200 - CESTAT NEW DEL.. ....

2016 (9) TMI 944 - CESTAT NEW DELHI

M/s Indsil Energy Electrochemicals Ltd. Versus CCE & ST, Raipur

Service Tax: Cenvat credit - service tax paid on services relating to insurance and handling of final products after their removal from the factory and insurance of motor vehicles and transit insurance of goods beyond the place of removal - credit was availed by the appellant on the basis of the invoices issued by their Head Office as ISD - services such as CHA, terminal handling and insurance, banking etc. have been availed for export of goods after their clearance from the factory - Hel.. ....


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2016 (9) TMI 1022 - KARNATAKA HIGH COURT

M/s. Concept Hydro Pneumatic Pvt. Limited Versus The Commissioner of Central Excise

Central Excise: Condonation of delay - 117 days - because of financial constraint since the company was unable to deposit the 10% requisite amount, there is delay in preferring the appeal - Held that:- it is by now well settled that the condonation of delay though is required to be sufficiently explained but at the same time, if the Court finds that there is substantial case to be considered in the appeal, the Court may also examine as to whether the delay could be condoned by imposing suita.. ....

2016 (9) TMI 1021 - GUJARAT HIGH COURT

M/s. National Impex Versus The Commissioner of Central Excise And Customs

Central Excise: 100% EOU - Whether the CESTAT has committed substantial error of law in deciding the case of appellant without production of documents/evidence, which are already seized and in the custody of the respondent authority. Also whether CESTAT has committed substantial error of law in casting the burden of proof on the appellant where the documents/evidence, which are already seized and in the custody of the respondent authority - appellant exported goods under the cover of six ARE.. ....

2016 (9) TMI 1020 - CESTAT AHMEDABAD

M/s VFC Industries Pvt. Ltd. Versus Commissioner of C. Ex. & S. Tax, Vadodara

Central Excise: Recovery of Cenvat credit - inputs and inputs contained in semi-finished goods - incident of fire took place in factory - destruction of plants and machinery, raw materials, stock of Work in Progress (WIP) goods and finished goods - Held that:- as far as the CENVAT Credit on inputs lying in stock, as such, destroyed in fire, it is crystal clear that the same had not been used in or in relation to the manufacture of final product in their factory; thus the criterion of use, th.. ....

2016 (9) TMI 1019 - CESTAT BANGALORE

Hindustan Lever Ltd. (Presently Hindustan Unilever Ltd.) Versus Commissioner of Central Excise and Service Tax, Mangalore

Central Excise: Refund claim - unjust enrichment - appellant applied for provisional assessment - collected the duty amount from the customers and have not submitted proper documentary evidence to prove that they have not passed on the incidence of duty to the customers - Held that:- in the present case it is not disputed that all the three refund claims have arisen due to finalization of provisional assessment during the period from April 1998 to December 1998. The appellant submitted that .. ....

2016 (9) TMI 1018 - CESTAT AHMEDABAD

M/s. Lohia Polyester Limited Versus Commissioner of Central Excise & S.T., Surat

Central Excise: Refund claim - unjust enrichment - whether the refund sanctioned by Assistant Commissioner is wrong, since the appellants have not proved that they have not passed on the duty burden - duty paid under protest - refund pertains to refund of pre-deposit amount - only - Held that:- it is found that the respondents have not produced any specific documentary evidence to prove that the duty has not been passed to other person/ buyer to nullify the doctrine of unjust-enrichment. I d.. ....

2016 (9) TMI 1017 - CESTAT AHMEDABAD

M/s Alembic Ltd. Versus Commissioner of Central Excise, Customs (Appeals) –Vadodara

Central Excise: Period of limitation - Refund claim - duty paid on discounts which were passed subsequent to the clearance of the goods from the depots - appellant contended that the data relating to the discounts for calculating refund claim could be available only after its sale from the depots, therefore, the time of sale from the depots, be considered as relevant date for the purpose of computing the period of limitation - Held that:- it is clear that the payment of duty should be the ba.. ....

2016 (9) TMI 1016 - CESTAT NEW DELHI

M/s Mittal Pigement Pvt. Ltd. Versus CCE, Jaipur

Central Excise: Suppressed production of clandestine clearances of goods without payment of duty - approximation production considering average yield of the product viz. zinc oxide out of the raw material issued - department has not gone beyond the approximation of yield shown as 70 to 84% - average yield overall had been shown as 77.60%. - Demand alongwith interest and imposition of penalty. Held that:- there is nothing on record from the Revenue side to come to a reasonable conclusion t.. ....

2016 (9) TMI 1015 - CESTAT NEW DELHI

M/s Godrej Hershey Limited Versus CCE & ST, Bhopal (Vice-Versa)

Central Excise: Manufacture - whether the appellant-assessee is the ‘manufacturer’ of PET bottle - appellant-assessee procures pre-forms required to manufacture of PET bottles and supply the same to job worker who converts the pre-forms into PET bottles and there upon fills the same with fruit pulp which is an exempted product - Held that:- the appellant-assessee cannot be considered as a ‘manufacturer’ of PET bottle for the simple reason that they have not undertaken any such process. In o.. ....

2016 (9) TMI 1014 - CESTAT MUMBAI

Vidyut Metallics Ltd. Versus Commissioner of Central Excise, Mumbai-III

Central Excise: Rectification of mistake - seeking rectification of various errors in the final order - Held that:- it is found that the Bench has categorically recorded the findings on all the submissions made by the applicant-respondent. The Bench has also clearly indicated why it has arrived at a conclusion to hold that prior to 1.7.2000, the provisions of Rule 6(b)(ii) of the Valuation Rules, 2000 needs to be applied into, read with circular. The Bench has clearly indicated why conclusio.. ....

2016 (9) TMI 1013 - CESTAT AHMEDABAD

Mahavir Expochem Ltd, Chandrakant L Shah Versus C.C.E. -Ahmedabad

Central Excise: Imposition of penalty - Section 11AC of Central Excise Act, 1944 - manufacture and clearance of Electroplating Chemicals like Gold Potassium Cynide (GPC) without payment of duty - Commissioner (Appeals), has not extended an option to pay 25% of the penalty as prescribed under Section 11AC of Central Excise Act, 1944 - Held that:- it is found that the learned Commissioner (Appeals) has analyzed the evidences and arrived at the conclusion that the Appellant has indulged in clan.. ....


More Central Excise Cases


2016 (9) TMI 1012 - CESTAT AHMEDABAD

M/s Shreeji Prints Pvt. Ltd. Versus Commissioner of Customs, Ahmedabad

Customs: Condonation of delay - show cause demand notice for duty short paid forwarded to supplier as litigation was carried on by the supplier - impression that appeal would be filed by the supplier - reminder received for recovery of confirmed dues - Held that: - the principles of law as laid down in the case of Office of The Chief Post Master General Vs M/s Living Media India Ltd [2012 (4) TMI 341 - SUPREME COURT OF INDIA] is followed. No action has been initiated by the applica.. ....

2016 (9) TMI 1011 - CESTAT MUMBAI

Commissioner of Customs (Export) Mumbai Versus Mahendra Kumar Darewala

Customs: Evasion of customs duty - mis-declaration - natural marble blocks and slabs - artificial marble tiles and vitrified tiles - approach to settlement commission by few co-noticees and importer as per provisions of section 127B of Customs Act, 1962 - penalty proceedings dropped by settlement commission for these co-noticees - whether the immunity from penalty be available to the other co-noticees who did not approach the tribunal i.e., decision of tribunal be applied on other co-.. ....

2016 (9) TMI 1010 - CESTAT MUMBAI

Mrs. Sima Khatib Versus Commissioner of Customs, Mumbai

Customs: Valuation - imported Mercedes Benz Car - enhancement of the value of the car due to accessories - purchase price - list price - car cover - optional item - Held that: - the manufacturer of car issued an invoice and a certificate indicating that the price at which the car was sold to the appellant was inclusive of cost of all accessories. The vehicle was purchased by the appellant in Dubai by paying an amount of Dirhams 83,100/- all inclusive. Since the certificate and the inv.. ....

2016 (9) TMI 976 - CESTAT CHANDIGARH

Golden Enterprises Versus C.C.E. & ST. Ludhiana

Customs: Demand of differential duty - imposition of penalty - Declaration of consignments - Pressed Distillate Oil - Base Oil - chemical examination of the consignments - no clear statement by chemical examiner. Only indication that the samples have the characteristics of Base Oil - denial of Cross Examination of the chemical examiner before the Adjudicating Authority - principles of natural justice - Held that: - In the absence of conclusive evidence of mis-declarations, the Customs.. ....

2016 (9) TMI 975 - CESTAT HYDERABAD

M/s Chowgule Brothers Pvt. Ltd. Versus CC & CE, Visakhapatnam

Customs: Imposition of penalty - Port Clearance Certificate - Charter Agents - Bagged Rice - extension of port clearance upto 07.02.2012 - surrender of original Port Clearance Certificate on 08.02.2012 - Section 42 of the Customs Act, 1962 - whether the penalty imposed for the reason that the vessel has left the port without Port Clearance Certificate as envisaged in Section 42 of the Act is justified? - Held that: - Section 42 states that no vessel can leave without written order giv.. ....

2016 (9) TMI 974 - CESTAT HYDERABAD

M/s The Professional Touch Versus CCE, Visakhapatnam

Customs: Enhancement of value - demand of differential duty - import of second hand cannon copiers - examination of goods by department and SIIB - unauthorized import - prices of some of the models were found higher than the prices declared by importers - Held that: - proceeding sequentially through rules 5 to 8 of the Customs valuation Rules, 1988 to determine the value of the goods under reference is the correct methodology to be followed - no infirmity found in the assesseble value.. ....

2016 (9) TMI 973 - CESTAT MUMBAI

Kushal N Desai, Apar Industries Ltd., Vivek Sah, Sah Petroleums Ltd., Gandhar Oil Refinery (I) Ltd., Rajiv J Parekh, Panama Petrochem Ltd. and Samir Akbarali Rayani Versus Commissioner of Customs (Import) , Mumbai

Customs: Provisional release of confiscated goods - confiscation of consignment of rubber - option to redeem on payment of fine only for re-export within 90 days - imposition of penalties - classification of imported goods - under 27101960 as base oil - under 27079900 leviable to duty at 10% - waste product listed in Schedule III Part A of Hazardous Waste (Management, Handling and Trans-boundary Movement) Rules, 2008 - hazardous waste - Held that: - the imports of the appellants do co.. ....

2016 (9) TMI 931 - CESTAT MUMBAI

Saregama India Ltd. and Sony Pictures Home Entertainment India Versus Commissioner of Customs Airport, Mumbai (Vice-Versa)

Customs: Valuation under section 14 of Customs Act, 1962 - inclusion of royalty payable to overseas entity in the assessable value - master tapes - rule 9 of Customs Valuation Rules, 1988 (or rule 10 of Customs Valuation Rules, 2007) - rejection of declared value under rule 10A of Customs Valuation (Determination of Price of Imported Goods) Rules, 1988 - transaction value - cost and services - Held that: - the case Collector of Customs (Preventive) v. Essar Gujarat Ltd [1996 (11) TMI .. ....

2016 (9) TMI 930 - CESTAT HYDERABAD

M/s S.M. Niryat Pvt Ltd. Versus CC, Visakhapatnam

Customs: Enhancement of assessable value of export - Fe percentage content in the ore - Fe content as per invoice - Fe content as per Customs Laboratory Report - rule 6 of CVR - CBEC Board issued Circular no. 12/2014 Cus-dated 17.11.2014 in respect of valuation of Iron Ore - Held that: - the test reports of Custom House laboratory have been issued around a month after filing of the shipping bills. It is been consistently held that time factor is important in testing such samples, sinc.. ....

2016 (9) TMI 929 - CESTAT MUMBAI

M/s Bhambhani Shipping Ltd. Versus Commissioner of Customs (Imports) , Mumbai-I

Customs: Imposition of redemption fine - provisional release of goods on payment of full differential duty and furnishing Bank Guarantee of ₹ 65 lakhs, besides executing a Bond of ₹ 33 crores - Barge - Section129E of the Customs Act, 1962 - relief sought under Section 35F - The asset has been confiscated and has been offered for redemption on payment of redemption fine. The same has been released on execution of bond and a bank guarantee. In these circumstances can the app.. ....


More Customs Cases


2016 (9) TMI 1009 - MADRAS HIGH COURT

Floor Fixers rep. by its Partner, Mrs. D. Asha Versus The Commercial Tax Officer, Circle, No. 46, Greenways Road, Chennai

VAT and Sales Tax: Validity of assessment order - TNVAT Act, 2006 - surprise inspection conducted by the Officials of the Enforcement Wing at the place of petitioner's business premises - report filed by the Deputy Commissioner (CT) Enforcement South, dated 21.09.2011, pointing out certain defects - deviation proposal, subitted by assessing officer disagreeing with the views expressed by the Deputy Commissioner (CT) Enforcement South , dated 21.09.2011 - the Deputy Commissioner (CT) Enforcement.. ....

2016 (9) TMI 1008 - KERALA HIGH COURT

THE COMMERCIAL TAX OFFICER - I, ALUVA AND OTHERS Versus M/s. RED BULL INDIA (P) LTD

VAT and Sales Tax: Review of order passed by assessing authority - validity of pre-assessment notice - completion of assessment - imposition of penalty - the KVAT Act - application for clarification - Held that: - pursuant to the judgment of the Court dated 23.11.2015, the authority for clarification proceeded to take note of the assessment orders passed by the assessing authority and pass an order stating that, in view of the assessment orders already passed, he was not empowered to pass an or.. ....

2016 (9) TMI 972 - ANDHRA PRADESH HIGH COURT

Telangana State Civil Supplies Corpn., Ltd. Versus Karur Vyshya kLtd.

VAT and Sales Tax: Recovery of dues - priority of discharge of dues - lifting/shifting the stocks of paddy bags from the rice mill premises and godown premises - Andhra Pradesh Revenue Recovery Act, 1864 - Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 - delivery of 8085.95 quintals of rice leaving a balance of 4007.18 quintals of rice undelivered, which is equivalent to 5892.91 quintals of paddy - demand of sum of ₹ 1,04,23,732.78 ps... ....

2016 (9) TMI 971 - KERALA HIGH COURT

M/s. OCEANUS DWELLINGS (P) LTD. Versus COMMERCIAL TAX OFFICER AND OTHERS

VAT and Sales Tax: Assessment - taxable turnover - purchase value of material - proviso to Rule 10 (2) (a) of the KVAT Rules - sale of apartment - agreement to sell the apartment - works contract - non-consideration of relevant material by Assessing Officer amounting to an error apparent on the face of the record - whether there is any error apparent on the face of the record to enable the officer concerned to reconsider the matter? - Held that: - the decision in the case Larsen and Toubro Limi.. ....

2016 (9) TMI 970 - KERALA HIGH COURT

M/s. HOTEL AND ALLIED TRADES PRIVATE LIMITED Versus COMMERCIAL TAX OFFICER, KOCHI AND INTELLIGENCE OFFICER (IB) , COCHIN

VAT and Sales Tax: Imposition of penalties - Luxuries Act, 1976 - bifurcation of luxury tax - Banquet Hall - Poolside area for serving food as well as conducting other services - Rule 3 C of Kerala Tax on Luxuries Rules, 1976 - 25% of the total charges treated as eligible for luxury tax - services rendered while serving food, drink and other services in a hotel, hall, auditorium and other similar places - payment of VAT on entire amount without bifurcation of the Luxury Tax Component - whether .. ....

2016 (9) TMI 969 - MADRAS HIGH COURT

Vantage Leathers India (P) Ltd. Versus The State of Tamil Nadu, The Commissioner of Commercial Taxes, The Joint Commissioner (C.T) Central, The Deputy Commercial Tax Officer (C.T)

VAT and Sales Tax: Rejection of settlement application under Section 6(3) of the Settlement Act - settlement of arrears of Sales Tax - Tamil Nadu Sales Tax (Settlement of Arrears) Act, 2010 - applications filed by petitioner under the Settlement Act, dated 30.12.2010 - applications filed by the petitioner were put in cold storage by the competent authority - after about five years show cause notices issued to the petitioner for the assessment years 1997-1998 and 1991-1992, dated 19.12.2015 and .. ....

2016 (9) TMI 968 - MEGHALAYA HIGH COURT

NG. Meghachandra Singh Versus Union of India And Others And M/s Nayak Infrastructure Pvt. Ltd. Versus The State of Meghalaya And Others

VAT and Sales Tax: Quantification of amount of tax deducted at source of VAT - taxable turnover - total value of the work contracts - deductions as per Section 5 - Section 106 of the Meghalaya Value Added Tax Act, 2003 - works contract - MES Builders Association of India and others vs. Union of India and others [2009 (9) TMI 880 - GAUHATI HIGH COURT] - in relation to Section 106(2) of the Act, if the deduction had already been made per Schedule IV-A, further deduction per Section 5(2)(c) would .. ....

2016 (9) TMI 926 - MADRAS HIGH COURT

M/s. A.A. Chef, rep. by its Partner, N. Anand, M/s. A.A. Poultry Farm (P) Ltd., Earlier known as Coimbatore Chemicals and Fertilizers Ltd., rep. by its Director, N. Anand, Mr. N. Anand Versus The Commercial Tax Officer (CT) Now Upgraded as Assistant Commissioner (CT) Mettupalayam Road Assessment Circle, Commercial Taxes Building, Balasundaram Chettiar Road, Coimbatore, The Assistant Commissioner (FAC) Mettupalayam Road Assessment Circle, Coimbatore and The State of Tamil Nadu, rep. by its Secretary to Government, Registration and Commercial Taxes Department, Chennai

VAT and Sales Tax: Recovery of arrears of sales tax - TNGST Act, 1959 - assessment without hearing - opportunity of being heard - Held that: - the petitioner directed to file written objections within a period of two weeks, along with supportive documents, and, on receipt of the same, the Assessing Officer shall afford an opportunity of hearing to the petitioner and redo the assessment in accordance with law, after considering the available documents with the petitioners - matter remanded for f.. ....

2016 (9) TMI 925 - MADRAS HIGH COURT

M/s. Arokiya Foods Versus The Commissioner of Commercial Taxes, Assistant Commissioner (CT)

VAT and Sales Tax: Validity of Assessment order - TNVAT Act, 2006 - completion of assessment solely placing reliance on the Advance Ruling, given by the Authority for Clarification and Advance Ruling - Entry 51 of Part-B of the First Schedule - sale of batter in loose condition taxable at 5% - Idli Wet Maavu - Dosai Wet Maavu - Vada wet Maavu - Addai Wet Maavu - Is the decision of advance ruling applicable to the petitioner? - Held that: - the proceedings, dated 2.12.2013, is not a Clarificatio.. ....

2016 (9) TMI 924 - ALLAHABAD HIGH COURT

Ashutosh Iron Traders Versus Commmissioner, Commercial Tax

VAT and Sales Tax: Imposition of penalty under Section 54 (1) (19) of the U.P. VAT Act 2008 - false claim of an amount as input tax credit - Held that: - The words "false" and "fraudulent" have a specific connotation insofar as legal proceedings are concerned. Tribunal failed to consider tax invoices and transportation bills. This material, in the opinion of the Court, was clearly relevant for the purposes of arriving at a conclusion as to whether the claim of input tax credit was a false or fr.. ....


More VAT and Sales Tax Cases


2016 (9) TMI 967 - BOMBAY HIGH COURT

Bhatia Industries and Infrastructure Limited Versus Asian Natural Resources (India) Limited (formerly Bhatia International Limited) and Vitol S. AA company incorporated

Corporate Laws: Lifting of corporate veil - whether the concept of lifting of corporate veil was available even in execution proceedings and whether any interference was called for in the finding recorded by the learned Single Judge? - Held that:- The concept of removing corporate veil is applicable not only in the cases of holding of subsidiary companies or in the case of tax evasion but can be equally applied in execution proceedings.We are therefore of the view that the corporate veil can.. ....

2016 (9) TMI 868 - SECURITIES APPELLATE TRIBUNAL MUMBAI

MFL India Ltd. Versus Securities and Exchange Board of India, Mumbai

Corporate Laws: Failure to obtain SEBI Complaints Redress System (SCORES) authentication within the stipulated time - delay in redressal of the investor grievances - Held that:- As per SEBI circular dated June 03. 2011 it was obligatory on the part of the appellant to obtain SCORES authentication, however, the appellant failed to obtain SCORES authentication. Even after issuance of the reminder circular dated August 13, 2012, the appellant failed to obtain the SCORES authentication. It is on.. ....

2016 (9) TMI 767 - SECURITIES APPELLATE TRIBUNAL MUMBAI

RDB Rasayans Ltd. and Others Versus Securities and Exchange Board of India,

Corporate Laws: Guilty of violating the ICDR Regulations and PFUTP Regulations - Held that:- Basic charge held against the appellants is that by suppressing material facts from the investors in the IPO, the appellants have violated Securities And Exchange Board Of India (Issue Of Capital And Disclosure Requirements) Regulations, 2009 (“ICDR Regulations” for short) and by misutilizing the IPO proceeds, the appellants have violated the Securities and Exchange Board of India (Prohibition of Fra.. ....

2016 (9) TMI 716 - CALCUTTA HIGH COURT

DR. JAYANTA KUMAR & ORS. Versus ASTHA NURSING HOME PRIVATE LIMITED & ORS.

Corporate Laws: Oppression and mismanagement - allotment of shares to new additional directors appointed - Held that:- The act of appointing new additional directors by altering the articles of association of the company with the object of completely upsetting the control and management of the company's affairs constitutes an act of oppression. It is settled law that it is not open to the directors of a company to issue and allot shares in a manner by which an existing majority of shareholde.. ....


More Corporate Laws Cases


2016 (9) TMI 352 - FOREIGN EXCHANGE Tribunal

Prakash Bafna Versus Special Director, Directorate of Enforcement

FEMA: Proceedings leveled against co-noticee - appellant was resident outside India - Held that:- Nothing incriminating from the raid carried out at the residential and business premises of the appellant could be found. There is no documentary evidence in support of the allegations of the respondent. There is no evidence on record to show that the appellant was involved in any act of alleged purchase and sale of foreign currency. For the alleged credits in banks the bankers or any .. ....

2016 (9) TMI 166 - MADRAS HIGH COURT

The Competent Authority, Chennai Versus M. Khader Moideen and The Chairman, Appellate Tribunal

FEMA: Defective notice - Whether the Tribunal was right in holding that the notice is defective and unsustainable? - Whether the Tribunal was right in holding that the independent properties of a relative of a convict or detenu,cannot be forfeited? - Held that:- As already held that the notice does not establish any link between the convict and the properties. It is also not the case of the petitioner that the properties were purchased out of illegal income earned in India by the c.. ....

2016 (6) TMI 341 - SUPREME COURT

M/s Videocon Industries Ltd. Another Versus State of Maharshtra & Others

FEMA: Offence punishable under Section 56(1)(i) of the Foreign Exchange Regulation Act, 1973 for the alleged contravention of the provisions of Sections 18(2) and 18(3) of the Act - Held that:- The tribunal has arrived at a conclusion that the appellant cannot be held guilty for Section 18(2) read with Section 18(3) of FER Act, 1973 and the advise of the Reserve Bank of India given in its letters dated 21.1.1992 and 18.2.1994 deserve to be accepted as they are totally in consonance.. ....

2016 (6) TMI 58 - PATNA HIGH COURT

Brajesh Kumar Srivastava, S/o Surendra Prasad Srivastava Versus The State of Bihar

FEMA: Sealing of office premises challenged - case registered under Sections 420, 120-B, 467, 468, 471, 406/34 of the Indian Penal Code (for short ‘IPC’) and Sections 3, 4 and 13 of the Foreign Exchange Management Act, 1999 - Held that:- The office premises of the Company, which was sealed by the police in connection with the police case, is neither a stolen property nor the object of the crime nor has any link with the commission of any offence. It is not a property which is cover.. ....


More FEMA Cases


2016 (9) TMI 966 - SUPREME COURT OF INDIA

KUMAR ALUMINIUM LTD Versus ASSET RECONSTRUCTION COMPANY INDIA LTD AND ANR

Allied Laws: Refund of the amount deposited in compliance of the requirement of the second proviso to section 18(1) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, for maintaining an appeal denied - Held that:- Similar issue in the case of Axis Bank vs. SBS Organics Private Limited & Anr. [2016 (4) TMI 917 - SUPREME COURT ] wherein held the Appeal under section 18 of the Act is permissible only against the order passed by the DR.. ....

2016 (9) TMI 965 - DELHI HIGH COURT

P.P. MAINRA Versus STATE & ANR.

Allied Laws: Complaint under Section 138 read with Section 141 of the Negotiable Instruments Act - petitioner ceased to be a director of the company - Held that:- The petitioner had ceased to be a director of the accused company on November 12, 2009, which fact is apparent from Form 32 submitted to the Registrar of Companies, the fact that he was a director of the company when the negotiations took place would be irrelevant.

2016 (9) TMI 921 - DELHI HIGH COURT

Reliance Industries Ltd. Versus Imperial Pigment Pvt. Ltd.

Allied Laws: Summary trial procedure to be followed for offences under Section 138 N.I. Act - Held that:- A perusal of the decision in Rajesh Agarwal (2010 (7) TMI 279 - HIGH COURT OF DELHI) itself shows that this Court was of the view that the trial under Section 138 NI Act cannot be carried out like any other summons trial under IPC offences which frustrate the very purpose of summary disposal of these complaints. This Court held that thus in all cases under Section 138 NI Act once evid.. ....

2016 (9) TMI 867 - SUPREME COURT

Sampelly Satyanarayana Rao Versus Indian Renewable Energy Development Agency Limited

Allied Laws: Dishonour of a post-dated cheque given for repayment of loan - Negotiable Instruments Act - Held that:- Reference to the facts of the present case clearly shows that though the word “security” is used in clause 3.1(iii) of the agreement, the said expression refers to the cheques being towards repayment of installments. The repayment becomes due under the agreement, the moment the loan is advanced and the installment falls due. It is undisputed that the loan was duly disburse.. ....


More Allied Laws Cases


 
 
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