Subscription   Feedback   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
Articles Highlights TMI Notes SMS News Newsletters Calendar Imp. Links Database Experts Contact us More....
Extracts
Home List
← Previous Next →

M/s Asil Industries Limited Versus CCE, Jaipur

2015 (10) TMI 865 - CESTAT NEW DELHI

Duty demand - Insurance claim received against damaged gear boxes - gear box still lying in the factory - Held that:- As per Section 4 of the Central Excise Act, 1944 an assessee is required to pay duty of the sale of the goods or deemed to be sale o .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

the Central Excise Act, 1944, we hold that the appellant is not required to pay duty on the amount of insurance claim for damaged gear box. - Decided in favour of assessee. - Excise Appeal No. 2805 of 2006 - Final Order No. 52133/ 2015 - Dated:- 7-7- .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

pugned order demanding duty on the insurance claim of damaged gear box. 2. The facts of the case is that the appellant is engaged in the manufacture of iron and non-alloy steel strips and alloy steel strips. In 1996, they procured one gear box. The s .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

venue is of the view that the amount received as insurance claim is the sale value of the damaged gear box, therefore, they are required to pay duty on the said amount.Therefore, a show cause notice was issued for demand of duty which was adjudicated .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

the gear box is still lying in the factory and that has not been sold out, therefore, the duty cannot be demanded. He further submits that as per Section 4 of the Central Excise Act, 1944, the duty can be demanded only in a situation where goods are .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

gear box.Therefore, the impugner order is to be set aside. 3. On the other hand, ld. DR opposed the contention of the ld. Counsel and submits that it is admitted fact that appellant has received an amount of ₹ 5,60,000/- towards damaged gear b .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 

what is new what is new
  ↓     bird's eye view     ↓  


|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version