2018 (5) TMI 1454
CENVAT credit - input services - outward transportation during the period April, 2011 to March, 2016 - Board vide Circular No. 97/8/2007-ST dated 23.8.2007 - Held that - during the relevant period, there was a clarification of Board vide Circular No. 97/8/2007-ST dated 23.8.2007, according to which the credit on outward transportation was allowed, subject to conditions imposed - As per the facts of the present case, the sale is undisputedly on FO....... + More
2018 (5) TMI 1453
Clandestine removal - excesses of finished goods - shortage of raw material - Held that - Revenue has not produced any evidence to ascertain the fact that the goods have been physically weighed, in that circumstance, the benefit of doubt goes in favour of the appellants - RG-1 register was updated upto 30.8.2012 wherein the production of 31.8.2012 was not entered in the RG-1 register. It is not the case of the Revenue that on 30.08.2012, the fact....... + More
2018 (5) TMI 1452
Valuation - Physician sample pack (P.S. Pack) - It is the contention of the Revenue that the PS Packs are required to be assessed u/s 4(1)(b) of Central Excise Act, 1944 as the medicines in PS Packs are ultimately distributed free on behalf of the appellant - Held that - the issue is now settled by the Hon ble Supreme Court in their own case reported as Commissioner of C.Ex. &Cus. Surat Vs. Sun Pharmaceuticals Inds. Ltd. 2015 (12) TMI 670 - SUPRE....... + More
2018 (5) TMI 1451
Cash refund - appellant was not in a position to utilize the CENVAT credit - Held that - the issue involved in the present case is squarely covered in favour of the appellant by the decision of Uttrakhand High Court in the case of CCE, Meerut-l Vs. Apco Pharma Ltd. 2011 (10) TMI 38 - UTTARAKHAND HIGH COURT wherein it has been held that refund could be sanctioned in cash when the assessee is unable to use it - appeal allowed - decided in favor of ....... + More
2018 (5) TMI 1450
Manufacture - marketing of Hydrogen Gas Cylinders - The department was of the view that filling and marketing of hydrogen gas cylinders with label amounted to manufacture in view of Chapter Note 9 of Chapter 28 of Central Excises and Salt Act as applicable at that time - extended period of limitation - Held that - Tribunal in the case of Goyal M.G. Gases Pvt. Limited vs. CCE, Chandigarh 2016 (1) TMI 1055 - CESTAT NEW DELHI , where it was held tha....... + More
2018 (5) TMI 1449
Liability of Interest and penalty - it was alleged that the appellant had issued supplementary invoices to collect differential price and the appellant discharged the duty liability at the rate of 14% and 10%, instead of discharging at the rate of 16% and 14% thereby leading to the short payment of duty - Held that - the impugned order alleging suppression by the appellant is not tenable in the facts and circumstances of the case. The appellant h....... + More
2018 (5) TMI 1448
Valuation - Rule 8 of the Central Excise(Determination of the price of excisable goods) Valuation Rules, 2000 - M/s GSK manufacturers the raw materials at its different factories and supplied them to the appellants by paying excise duty based on Rule 8 of the Valuation Rules viz. Cost of production plus 10% - Held that - the facts of the case are not in dispute that the cost of raw material supplied to the appellant by GSK were provisionally asse....... + More
2018 (5) TMI 1447
Refund of accumulted CENVAT credit - rejection of the claim under the provisions of Section 11B, as the appellant have failed to furnish requisite details and documents to justify the claim under N/N. 05/2006-CE (NT) dated 14.03.2006 issued under Rule 5 of CCR 2004 - Held that - this issue is no more res integra and has been settled by the Hon ble High Court of Karnataka in the case of Slovak India Trading Co. Pvt. Ltd. 2006 (7) TMI 9 - KARNATAKA....... + More
2018 (5) TMI 1446
Clandestine removal - unaccounted finished goods Polyester Films - shortage of inputs Polyester Chips - Held that - so far the alleged confiscation of the Polyester Film 18.2MT is concerned the same is only a part of base production. The Panchnama proceedings started at 3.00P.M. Thus, the adverse inference drawn by the Revenue is fit to be set aside - it is apparent that the statement was recorded in the dead of the night and as such for some min....... + More
2018 (5) TMI 1445
Clandestine removal - excess stock of finished goods which was not accounted for in the books - time limitation - Held that - the commissioner had decided the case against the appellant on flimsy grounds without any evidence on record. The enquires made from the consignors revealed that they had confirmed the contents of the affidavit. In fact no records were required when the affidavits were filed. Since the issue is 22 to 23 years old, hence th....... + More
2018 (5) TMI 1444
Pendency of refund - The Commissioner, DVAT is present in Court - we would request a five-member team of advocates to visit the office of the Commissioner, DVAT on 25.4.2018 at 2 00 pm for an interaction and point out difficulties on the question of refund, interest, delay etc. - In the affidavit/ status report to be filed, the Commissioner would address the issues raised by the advocates and administrative action taken........ + More
2018 (5) TMI 1443
Reopening of assessment u/s 147 - sale of immovable property - capital gain or capital loss - assessee produced purchase and sale deeds alongwith approved valuer s report assessing the value of property - The impugned notice was issued beyond the period of 4 years - notice must be quashed on the ground of change of opinion - thus reopening of the assessment is wholly impermissible - decided in favor of assessee....... + More
2018 (5) TMI 1442
Recovery of tax dues - Withdrawal of amount from the petitioner s Bank account - Held that - even if the Department has such powers it must be realized that the powers are drastic and would result into extremely harsh consequences to the assessee - merely because the statute authorizes the Government agency to carry out coercive recovery - it would not permit such an authority to access individual s bank account - even without his knowledge - the....... + More
2018 (5) TMI 1441
Reopening of assessment u/s 147 - Original Assessment was made u/s 143(3) after scrutiny - validity of notice beyond the period of 4 -years - disallowance of expenses in relation to the exempt income - Held that - disallowance of expenditure in relation to earning tax exempt income is not valid by AO - reopening of assessment is sought to be made beyond the period of four years - also there being no element of failure of the assessee, disclosing ....... + More
2018 (5) TMI 1440
Reopening of assessment u/s 147 - As per AO share application has been received by the assessee - Held that - In absence of any evidence on records merely on the basis of hearsay information - AO can not derive satisfaction to reopen the assessment - this being a disputed question of fact - Decided in favor of assessee........ + More
2018 (5) TMI 1439
Whether the income generated through sale of shares should be taxed as capital gain or business income of the assessee - Held that - the declaration made by an assessee with respect to its intention in buying and selling shares would be accepted - where the assessee itself, irrespective of the period of holding the listed shares opts to treat them as stock-in-trade - the income arising from transfer of such shares would be treated as its business....... + More
2018 (5) TMI 1438
Whether the income generated through sale of shares should be taxed as capital gain or business income of the assessee - Held that - the declaration made by an assessee with respect to its intention in buying and selling shares would be accepted - where the assessee itself, irrespective of the period of holding the listed shares opts to treat them as stock-in-trade - the income arising from transfer of such shares would be treated as its business....... + More
2018 (5) TMI 1437
Whether the income generated through sale of shares should be taxed as capital gain or business income of the assessee - Held that - the declaration made by an assessee with respect to its intention in buying and selling shares would be accepted - where the assessee itself, irrespective of the period of holding the listed shares opts to treat them as stock-in-trade - the income arising from transfer of such shares would be treated as its business....... + More
2018 (5) TMI 1436
Reopening of assessment u/s 147 - income has escaped assessment - Held that - the duty of the AO is only to primafacie establish that income chargeable to tax has escaped assessment - it would not be his duty to demonstrate with certainty that invariably upon reassessment additions would be stand - the petition is dismissed........ + More
2018 (5) TMI 1435
Reopening u/s 147 - AO indicated irregular claim of capital loss - Held that - the AO had noticed the assessee s claim of capital loss - had called upon the assessee to justify the same - The assessee had answered such queries of the AO upon which, in the final order of assessment - the AO made no adjustment - Decided in favor of assessee....... + More
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