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Case Laws
Showing 101 to 120 of 403 Records
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1997 (4) TMI 389 - HIGH COURT OF BOMBAY
Winding up - Suit stayed on winding up order, Suspension of legal proceedings, etc. and Winding up - Avoidance of certain attachments, executions, etc.
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1997 (4) TMI 388 - SUPREME COURT
Whether the underwriting commission in respect of shares which could not be subscribed by the public and had to be purchased by the assessee has to be regarded as the income of the assessee or it goes towards reducing the cost of the shares so purchased?
Held that:- Appeal dismissed. The Tribunal has not committed any error in taking the view that the underwriting commission earned by the assessee in respect of the shares which were not subscribed by the public and were purchased by the assessee could not be treated as a part of its taxable income. The question referred was, therefore, rightly answered by the High Court against the revenue and in favour of the assessee.
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1997 (4) TMI 386 - DELHI STATE CONSUMER DISPUTES REDRESSAL COMMISSION
Compensation - Deficiency in service ... ... ... ... ..... e opposite party was guilty of deficiency in service right from the beginning when the GMIS certificates had been received and the amount thereof credited but the application was misplaced. At the same time, the appellant is entitled to all the benefits accruing to a person who had been issued such certificates in time. Keeping the totality of facts and circumstances in view, we are of the opinion that the award of Rs. 500 by the District Forum is altogether inadequate. Keeping in view the period of delay, the amount involved, the expenses and harassment suffered by the complainant, it would meet the ends of justice if the amount of Rs. 500 is raised to Rs. 5,000. We allow the appeal and direct the respondent to pay the balance amount of Rs. 4,500 within six weeks from the date of receipt of a copy of this order failing which action under section 27 is liable to be taken. A copy of this order be communicated to both the parties as well as District Forum-I. SCL q OCTOBER, 1997
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1997 (4) TMI 385 - HIGH COURT OF DELHI
Custody of company’s property ... ... ... ... ..... e court as from the date of the order for the winding up of the company. Under the said provision, the appointment of the provisional liquidator could relate only to all the properties, effects and actionable claims to which the company is, or appears to be entitled . It is not disputed that the boiler in question in this case, which is fired by rice husk, was the subject matter of a lease agreement, the lease money in connection whereof had not been paid. Upon failure to pay the lease money, instalments and arrears, the company from which it had been hired, i.e., the Credit Capital Finance Corporation Limited, the respondent herein, could take possession of it as that boiler was owned by them. In these circumstances, it is not possible for us to say that the boiler was something to which the company was entitled. The boiler was owned by the Credit Capital Finance Corporation Ltd. In this view of the matter, we are not inclined to entertain this appeal. The same is dismissed.
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1997 (4) TMI 370 - CEGAT, NEW DELHI
Reference to High Court - Modvat ... ... ... ... ..... e manufacture of specified final products, is correct in holding that these parts of machine is not excluded from the definition of ldquo input rdquo by exclusion clause (i) of the Explanation to Rule 57A of the Central Excise Rules, 1944 and if so, is correct in holding that assessees are entitled to Modvat credit in respect of duty of Central Excise paid on such goods ? rdquo 7. emsp Applying the same basis to the present case, the following question needs to be referred to the High Court - ldquo Whether the Appellate Tribunal is correct in holding that clay graphite stopper which performs function as part of a machine is not excluded from the definition of input by exclusion clause (i) of the Explanation to Rule 57A of the Central Excise Rules, 1944, and, if so, correct in holding that the assessee is entitled to the benefit of Modvat credit under the aforesaid Rule. rdquo 8. emsp The statement of case may be prepared for submission to the High Court of Punjab and Haryana.
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1997 (4) TMI 362 - CEGAT, NEW DELHI
... ... ... ... ..... be margin of profit if PCC Poles are sold and if so, what would be the margin of profit. There can be no doubt that there will be some margin of profit in the case of sale of PCC Poles. The adjudicating authority determined the margin of profit as 10 . We find no material before us to show that this estimate is unreasonable. 4. emsp The only contention urged is that since the Board is not a profit making body and products are not sold by the Board, there cannot be any margin of profit. We have already dealt with this aspect and found that there can be sale of PCC Poles in which case there would be legitimate expectation of profit. According to the appellant, the profit and Loss Account of the Electricity Board reflects unsatisfactory position. We are not so much concerned with the profit or loss of the Board as the profit or loss which may be sustained in the manufacture and sale of PCC poles. 5. emsp In the above circumstances, we decline to interfere and dismiss the appeal.
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1997 (4) TMI 353 - CEGAT, MADRAS
Benefit of exemption under Notification No. 73/90-C.E. not available.
... ... ... ... ..... ach element in that system has to be dealt with on its own terms. Even in the letter of the Chairman of the Telecommunication, what has been pressed is that this equipment is required to be supplied along with the exchange. This again highlights only one thing that while its use may be essential for running a telephone exchange, it cannot be considered as an integral part of the exchange by itself which is a RAX 128 Port System which in our view is represented in figure 1.1. 11. emsp In the above view of the matter we hold that the learned lower authority was in error in extending the benefit. We, in the above view of the matter allow the appeal of the revenue. We observe that a concession can be made available to the item which goes by the term telephone exchange. Since line tester is a separate entity which is used in conjunction with the telephone exchange, this cannot be considered as an integral part of the exchange. We, therefore, hold that the benefit is not available.
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1997 (4) TMI 344 - CEGAT, NEW DELHI
Natural justice - Cross-examination - Smuggling ... ... ... ... ..... ul Agarwal and Anil Kumar Agarwal is concerned. I find that they had submitted their replies to the show cause notice. They were the co-noticees, their statements were corroborated by Shri Naveen Kumar Gupta and therefore, denial of permission of cross-examination of these persons has not led to miscarriage of justice. Looking to the facts and circumstances and the statements of the noticees, I find that absolute confiscation is too harsh a penalty. In the circumstances, I allow the redemption of silver weighing 12.136 kgs. recovered from Rahul Agarwal on payment of fine of Rs. 20,000/- (Rupees twenty thousand only) and for redemption of 12.783 kgs. of silver recovered from Anil Kumar Agarwal to be redeemed on payment of fine of Rs. 21,000/- (Rupees twenty-one thousand only). The quantum of penalty is not considered too high, therefore, no interference is called for. 7. emsp The impugned order is modified to the extent stated above and the appeals are disposed of accordingly.
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1997 (4) TMI 336 - CEGAT, NEW DELHI
Notification - Central Excise Notification ... ... ... ... ..... ny duty of excise under the provisions, of this Retrospective Exemption Act may make an application for refund of such duty to the Asstt. Collector of Central Excise before the expiry of six months from the date of commencement of this Act. The Act was enacted on 8-9-1986. 11. emsp The appellants had filed refund claim on 9-12-1986. 12. emsp As we consider that the exemption Notification No. 279/86-C.E,. dated 24-4-1986 was covered by the scheme of exemption under the central duties of excise (Retrospective Exemption) Act, 1986, the view taken by the Collector of Central Excise (Appeals) that this Notification was not covered by the provisions of the central duties of excise (Retrospective Exemption Act) was not correct and the rejection of the refund claim on this ground alone was not correct. 13. emsp In view of the above, subject to the provisions regarding unjust enrichment, the appellants are entitled for relief and accordingly the appeal is allowed. Ordered accordingly.
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1997 (4) TMI 329 - CEGAT, MADRAS
Classification ... ... ... ... ..... re known as rubber based adhesives. rdquo The above portion of the extract specifically shows that rubber based adhesive may contain some or all materials as above. It also shows that the composition as mentioned above is only a general composition but what is important is that rubber is essential ingredient of rubber based adhesive. From the above extract which is taken from the Encyclopedia of Chemical Technology, it is clearly proved that the reasoning in the impugned order to the effect that since CVC with which we are concerned in this case does not tally with the ingredients given above and had ceased to be an adhesive, is not correct. In this view of the matter we are of the view that the decision of the Tribunal cited supra are squarely applicable to the facts of the case and the goods of the appellants merits classification under Heading 35.06 and we order accordingly. The impugned order classifying the same under Heading 40.05 is set aside and the appeal is allowed.
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1997 (4) TMI 325 - CEGAT, CALCUTTA
Modvat - Deemed credit ... ... ... ... ..... pellants when the original equipments outlived their utility and became unserviceable. The reasoning adopted by the authorities below is that M/s. Rourkela Steel Plant was not required to pay any duty on such old and used materials and that is why and rightly so, M/s. Rourkela Steel Plant has not paid any duty. In this view, the deemed Credit has been disallowed to the appellants. However, I find that the very fact that re-rollable scrap is not leviable to duty when cleared as scrap is the reason why the Government of India has issued this deemed Credit Order dated 1-3-1994 so that the benefit of duty originally paid on the goods when manufactured and cleared from the factory of the manufacturer for the first time travels to the small-scale re-rollers. 7. emsp In view of my discussions above, I hold that the deemed Credit was rightly availed by the appellants. Accordingly, I set aside the impugned Order and allow the appeal of the appellants with consequential relief, if any.
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1997 (4) TMI 321 - CEGAT, NEW DELHI
SSI Exemption - Value of clearances ... ... ... ... ..... nship was being misused. 18. emsp The Mistake in address by some supplier in some invoice(s) does not by itself prove or disprove anything and is hardly of any consequence. On the contrary the fact that the appellants assertion that they are having separate premises, plant and machinery and manufacturing and selling the goods independently of each other has not been shown to be wrong and in these circumstances their separate registration for factories, sales tax, SSI and excise purposes and separate partnership deed and financial arrangements will have to be kept in view while considering the totality of facts and circumstances. 19. emsp In the present case we hold that the department has not been able to establish its charges and each of the units will have to be treated independently and considered for benefit of notification, if any, available, on its own merits. The impugned orders are therefore, set aside and the appeal is accepted as already announced in the open court.
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1997 (4) TMI 320 - CEGAT, CALCUTTA
... ... ... ... ..... iece of these evidences relates to HDPE tape grades ldquo wide specification rdquo . In our view, therefore, none of these evidences can be strictly relied upon for the purpose of arriving at the value of goods under importation. We also observe that the fax messages relied upon by the lower authorities are not otherwise reliable for the discrepancies pointed out by the learned Consultant in view of the Supreme Court rsquo s judgment mentioned supra. We also observe that none of the authorities below has given any reasons as to why the evidences produced by the appellants in support of the declared price should be discarded. In the absence of discarding the evidences of the importer, it is not proper for the authorities to go into the prices on the basis of contemporaneous imports. In the overall facts and circumstances as mentioned above, we are of the view that the declared price is acceptable and, therefore, we allow the appeal with consequential reliefs to the appellants.
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1997 (4) TMI 319 - CEGAT, MUMBAI
Demand - Provisional assessment ... ... ... ... ..... ty is provisionally assessed is the date of adjustment of duty after final assessment thereof. This provision makes it clear that the liability to duty on goods provisionally assessed arises when the assessment is finalised and that any short levy occurring as a result of that assessment can be recovered within six months or five years as the case may be from the date of adjustment of duty following final assessment. It would follow that a demand for duty on goods provisionally assessed cannot arise prior to the assessment being finalised. This is also the reasoning behind the decision of the Bombay High Court in Union of India v. Godrej cited by the appellant, that notice under Section 11A could not be issued before the provisional assessment had been finalised. Since provisional assessment was not finalised when the demand was issued, the demand is premature. The orders impugned in the appeal, therefore, cannot be sustained. 6. emsp Appeal allowed. Impugned order set aside.
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1997 (4) TMI 318 - CEGAT, CALCUTTA
Stay/Dispensation of pre-deposit ... ... ... ... ..... and of duty has been correctly paid, submits the learned Advocate. He, therefore, submits that the Department has no case and on the other hand, the applicants have a strong prima facie case in their favour. 7. emsp We have carefully considered the submissions. We are inclined to agree with the learned Advocate, Shri V. Lakshmikumaran that the applicants have a strong prima facie case in so far as the addition of advertisement expenses and addition of notional interest are concerned. 8. emsp As regards the remaining amount of Rs. 58.00 lakhs on account of sale of X-grade of Kitply at a higher price we observe that the amount involved is only Rs. 58.00 lakhs and odd. They have already made a deposit of Rs. 1.00 crore as admitted in the impugned order. Therefore, having regard to the overall facts and circumstances of the case, we are of the view that no further predeposit is called for from the applicants at this stage. Consequently, we allow the Stay Petition unconditionally.
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1997 (4) TMI 305 - CEGAT, CALCUTTA
Classification ... ... ... ... ..... f a recurring nature. 9. emsp We have carefully considered the submissions of both sides. We find from a reading of Chapter Note 2(a)(3) which excludes the coated fabric covered on both sides with plastics, from the scope of Chapter Heading 59.03, that it does not lay down any condition that such fabric should not be seen with the naked eye. We, therefore, find that the lower appellate authority has clearly made an error of fact in reading of the said Chapter Note and therefore, classification of the product under Chapter Heading 59.03 by that authority, is not correct. Consequently, we allow the appeal with consequential relief. 10. emsp Before parting with this, we do not agree with the submission of the learned JDR that the matter needs to be remanded. The matter is six years old. The Test Memo was prepared by the Excise Officer concerned after having the full record of the Chapter Note of Chapter 59. There can be no question of sending the matter back for this thing only.
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1997 (4) TMI 302 - CEGAT, CALCUTTA
Modvat - Emeri paper ... ... ... ... ..... ds taken by the appellant Commissioner are not tenable. Coated abrasive paper cannot be considered as a tool. It merely smoothens or polishes the plywood. It does not shape the plywood. It is also not known in the market as a tool. The other ground that it is not an input inasmuch as it is not used in the manufacture of final product is also not tenable. Marketable plywood would not come into existence unless plywood is polished. Therefore, it is certainly used in relation to the manufacture of the final product. 4. emsp Apart from the foregoing, as pointed out by the learned Advocate for the respondent, there is already a Division Bench judgment of this zone in the case of Jayashree Timber mentioned supra. Accordingly, I, sitting as a Single Member, am bound by the judgment of the Division Bench of this zone. Therefore, I dismiss the appeal of the Revenue. Since the appeal itself from the Revenue has been dismissed, the cross objection filed by the assessee gets disposed of.
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1997 (4) TMI 300 - CEGAT, MUMBAI
Gauzes made out of platinum and rhodium - Notification No. 131/81-C.E. ... ... ... ... ..... m MMTC does not lead to an inescapable conclusion that the goods must have been manufactured out of old and used articles of the same metal. It is possible that the respondent may have purchased the metal from a refinery or taken a loan of the metal from another person. It is not our intention to say that this would have happened all that we are saying is that this could have happened. Unless the respondent showed, by citing specific evidence, that the goods were manufactured out of old and used articles it could not get the benefit of the notification. This is what the Assistant Commissioner has in his order, with emphasis, more than once. 8. emsp The Commissioner (Appeals) has therefore misdirected himself in coming to the conclusion at the benefit of the notification was available to the assessee. His reasoning and conclusion cannot be upheld. We therefore allow the appeal and dismiss the order appealed against and therefore restore the order of the Assistant Commissioner.
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1997 (4) TMI 299 - CEGAT, MUMBAI
Stay/Dispensation of pre-deposit ... ... ... ... ..... eration by the Board. It also happened that the Assistant Collector had followed the Board rsquo s clarification in approving the classification list under Heading 35.06. The applicants have also pleaded financial hardship apart from the submissions made in this regard by the ld. Sr. Counsel Shri Sethna, the perusal of their balance sheet as on 31-1-1997 shows that the applicants have Sales Income of Rs. 1,963.00 lakhs, Rs. 555.00 lakhs are due to them from Sundry Debtors. Having regard to the financial position, we direct, in terms of Section 35F of the Central Excises and Salt Act, 1944, the applicants should predeposit a sum of Rs. 3.5 crores on or before 30-6-1997 subject to which the predeposit of the balance duty amount and of the whole of the penalty amount is dispensed with and recovery is stayed pending the disposal of the appeal. 5. emsp Matter to come up for ascertaining compliance with this order on 4th July, 1997. The Stay Application are disposed of accordingly.
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1997 (4) TMI 298 - CEGAT, MUMBAI
Iron and steel products - Reed wire ... ... ... ... ..... doubt the definition of ldquo strips rdquo in the Tariff contemplates that the product must have been rolled. However the contention made that the goods are not supplied in coils or flattened coil form for the reason that they are captively consumed and not supplied has not been answered. Further there is no dispute that the product at the starting point of the product is a wire. It is not dispute that it was a cold drawn product forming to the dimensions and specification in the explanation to the list. The logic behind the circular of the Board that merely by changing its shape from circular to rectangular the product does not cease to be a wire. The finding of the Collector (Appeals) that the subject goods are known in the trade as wire and not a strip is not challenged in the appeal. We are therefore of the view that there is insufficient material in the department rsquo s appeal to warrant interference with the Collector (Appeals) order. We therefore dismiss the appeal.
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