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SC upholds plea of revenue neutrality in case of captive consumption to set aside invocation of extended period

Central Excise - By: - Bimal jain - Dated:- 15-6-2015 - Dear Professional Colleague, We are sharing with you an important judgment of the Hon ble Supreme Court, in the case of Nirlon Ltd. Vs. Commissioner of Central Excise, Mumbai [2015 (5) TMI 101 - .....

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gaged in the manufacturer of Tyre Cord Yarn ( TCY ) and Tyre Cord Fabric ( TCB ) falling under Chapter 54 and Chapter 59 of the First Schedule to the Central Excise Tariff Act, 1985 respectively, at its Goregaon factory. The products so manufactured .....

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f ex-factory sales and price declaration for the same were filed with the Department. After examination, it was found that there was a difference between the goods which were cleared at the factory gate to be sold to the third parties and the goods r .....

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ore, price declaration which was filed by the Appellant in terms of Section 4(2) of the Central Excise Act, 1944 ( the Excise Act ) read with Rule 6(b)(i) of the erstwhile Central Excise Valuation Rules, 1975 ( the Excise Rules ) was incorrect. Accor .....

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matter was decided against the Appellant. Being aggrieved, the Appellant preferred an appeal before the Hon ble Supreme Court. Held: The Hon ble Apex Court held that even though the goods were found to be different, payment of duty taking comparativ .....

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period of limitation and consequent demand was set aside. However, the Hon ble Supreme Court upheld demand for the period not barred by limitation by holding that the goods which were removed for captive consumption to be used by Tarapur Factory wer .....

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information, please do not hesitate to write back to us. Thanks & Best Regards, Bimal Jain FCA, FCS, LLB, B.Com (Hons) A2Z TAXCORP LLP Tax and Law Practitioners Delhi: Flat No. 34B, Ground Floor, Pocket - 1, Mayur Vihar Phase-1 Delhi - 110091 (I .....

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