Home Case Index All Cases Central Excise Central Excise + HC Central Excise - 2010 (5) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2010 (5) TMI 344 - HC - Central ExciseCompounded levy scheme – Basic eligibility condition - Not carrying out specified processes and investment in plan and machinery is not less than Rs. 3 crore - assessee fulfilled the requisite conditions on the quantum of investment; and it was also observed that the Chartered Accountants’ certificate showing the capital investment - certificates issued by the Chartered Accountant not answering to the fundamental requirement of determination of value according to the accounting standards (AS10) - department had not accepted the facts and figures stated in the certificates - Cost Accountant was deputed to carry out special audit - Cost Accountant submitted the opining that value of investment by the appellant on plant and machinery was more than Rs. 3 crore - DG Set and effluent treatment plant are not the essential components of machineries for the purpose of the processing – Held that: - When certain machinery is required to be installed, as per the law and regulations governing the factory in question and as per the requirements of running the plant, the appellant cannot be acceded a right to exclude such investment while computing the total value of investment in plant and machinery - ineligible to avail the Compound Levy Scheme
|