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. Mahavir Spinning Mills Ltd. Versus Commissioner of Central Excise, Chandigarh

Claim of interest on delayed refund - finalization of provisional assessment - period of limitation - appellant filed the refund claim on 11.8.1998 “without prejudice” basis under Rule 9B(5) of the Central Excise Rules, 1944 on the ground that appellant is not required to file refund claim under Rule 9B(5) of the Rules as per various judicial pronouncements. - Held that:- Admittedly, in this case, the order dated 7.7.98 of finalization of provisional assessment was challenged by the Revenue befo .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

hree months from the date i.e. 30.5.2001 when the claim of refund has attained finality till the refund claim was given to the appellant. - Decided in favor of assessee. - Excise Appeal No. 400 of 2005 - FINAL ORDER NO. 52806 /2015-EX(DB) - Dated:- 3-9-2015 - Shri Ashok Jindal, Member (Judicial) And Mr. B Ravichandran, Member (Technical) For the Petitioner : Shri Balbir Singh, Sr. Advocate and Shri Rupender Singh, Advocate For the Respondent : Shri R K Grover, DR ORDER Per Ashok Jindal: The appe .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

Central Excise Act, 1944 on 31.7.1998. Consequent to that, appellant filed the refund claim on 11.8.1998 without prejudice basis under Rule 9B(5) of the Central Excise Rules, 1944 on the ground that appellant is not required to file refund claim under Rule 9B(5) of the Rules as per various judicial pronouncements. The Revenue preferred an appeal against the order of finalization of Assistant Commissioner of provisional assessment dated 7.7.1998 and the appeal was decided by learned Commissioner .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ed for refund but claim of interest was rejected. Thereafter on 7.4.2003, the refund was given to the appellant without interest. The appellant challenged the order of rejecting the claim of interest of the appellant before learned Commissioner (Appeals), who vide order dated 23.12.2004 also rejected the claim of appellant for interest. Aggrieved from the said order, appellant is before us. 3. The learned Senior Counsel appearing on behalf of the appellant submits that as the assessments were fi .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

e Revenue before the learned Commissioner (Appeals) and who on 30.5.2001 held that appellant is entitled for refund of ₹ 72.28 lakh. During the relevant time, provisions of section 11B of the Act came into force in the light as per Notification No. 45/99-CE (NT) dated 25.6.1999. Therefore, appellant is entitled to claim interest after three months from 30.5.2001 as they have also filed refund claim on 11.8.1998. In these circumstances, he prayed that interest be given to them as per CBEC C .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

of GKN Drive Line (India) Ltd. vs. CC, New Delhi [2013 (295) ELT 466 (Tri-Del)]. He also relied on the decision of this Tribunal in the case of Indian Dyestuff Industries Ltd. vs. CCE, Mumbai [2001 (136) ELT 867 (Tri-Mumbai)] which has been affirmed by the Hon ble Apex Court as reported in [2002 (143) ELT A266 (SC)] to say that provision of Section 11A or 11B of Central Excise Act are not attracted as refund resulted from finalization of provisional assessment under Rule 9B(5) of the Central Ex .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

as the said order has attained finality as nobody has challenged the said order. It is admitted fact that for the period prior to 25.6.1999 for finalization of provisional assessment under Rule 9B(5) of the Central Excise Rules, 1944, the provisions of section 11B of the Act were not attracted as held by this Tribunal in the case of Indian Dyestuff Industries Ltd.(supra) which has been affirmed by the Hon ble Apex Court reported supra. But it is a fact on record that appellant has filed refund .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

5) provides that when the duty leviable on the goods is asssessed finally in accordance with the provisions of these Rules, the duty provisionally assessed shall be adjusted against the duty finally assessed, and if the duty provisionally assessed falls short of or is in excess of the duty finally assessed, the assessee shall pay the deficiency or be entitled to a refund, as the case may be . Any recoveries or refunds consequent upon the adjustment under sub-rule (5) of Rule 9B will not be gover .....

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
  ↓     Latest Happenings     ↓  

News: GST implementation smoother than expected: Jaitley

News: Blockage of Working Capital of Exporters

News: Clarification about Transition Credit

Forum: GST - TRAN1 - filed - Data uploaded with Remarks Processed with Error - Not coming in Electronic credit ledger - need suggession guidance

Forum: 3B mistake

Forum: Input tax credit

Forum: Excise duty credit on finished stock at additional place of business.

Forum: Cess paid instead of SGST

Forum: Manpower Service provider

Forum: Due date of Filing TRAN-1

Highlight: Diversion of income at source - Joint venture agreement - 97% of the receipt transfer to M/s TRG Industries (P) Ltd. - scope of the agreement - it is diversion by overriding title - not taxable in the hands of assessee - HC

Highlight: Expenditure on eligible projects or schemes u/s 35AC - After 01.04.2017 the legislature desired to withdraw such deduction. - The Union legislature was competent to introduce such amendment - HC

Highlight: Transfer of trading assets at cost price, the profit component also stood transferred to the outgoing Directors, which otherwise belonged to the Company - the fact that AO has made the addition in the hands of the Directors would not make any difference - additions confirmed - HC

Highlight: The interest u/s 234B of the Act cannot go beyond the stage of S.245D(I) before the Settlement Commission - HC

Highlight: Galvanized iron pipe is a different commercial commodity than a iron pipe, therefore the activity of galvanization in our considered opinion amounts to manufacture - Deduction u/s 80-IB allowed - HC

Highlight: Penalty u/s 271C - non deduction of TDS on interest paid to sister concerns in terms of Section 194A - Levy of penalty confirmed - HC

Highlight: Disallowance of interest - reference to section 179 - The legislature has also recognised, that the doctrine of lifting of veil in the matter of tax dues is to be applied to prevent fraud etc. and not where the company has suffered despite its normal bona fide function. - HC

News: RBI Reference Rate for US $

Notification: Amendment in Notification No. S.O. 3118(E), dated the 3rd October, 2016

Highlight: Discount on ESOP to be allowed as business expenditure u/s 37(1), during the years of vesting on the basis of percentage of vesting during such period, subject to upward or downward adjustment at the time of exercise of option.

Notification: Central Government appoints the 20th September, 2017 as the date on which proviso to clause (87) of section 2 of the Companies Act 2013, shall come into force

Notification: Companies (Restriction on number of layers) Rules, 2017

Highlight: Penalty u/s 271(1)(c) - additional income disclosure - surrender of income post survey u/s 133A - he disclosure made by the assessee is voluntary in nature, in the revised return - no penalty

Highlight: Reopening of assessment - notice u/s 148 issued on the directions of JCIT / CIT - a perusal of reasons for initiating reassessment proceedings clearly show that they are against the sprit of provisions u/s 147

Notification: All Industry Rates of Duty Drawback Schedule

Highlight: MAT - Adjustment to book profit - computation u/clause (f) of Explanation-1 to section 115JB(2) is to be made without resorting to the computation as contemplated u/s 14A r.w.Rule 8D of I.T. Rules.

Notification: The Customs and Central Excise Duties Drawback Rules, 2017

Highlight: Addition on account of alleged suppression of service value received - the addition made simply believing the Form 26AS will be an arbitrary exercise of power which cannot be sustained

Notification: Exempts intra state supply of heavy water and nuclear fuels from DAE to NPCIL

Notification: Seeks to amend notification No. 12/2017-UTT(R) to exempt right to admission to the events organised under FIFA U-17 World Cup 2017

Notification: Seeks to amend notification No. 11/2017- UTT(R) to reduce CGST rate on specified supplies of Works Contract Services

Highlight: Liability to pay duty on import of software - Though no authorization was given by the appellant to DHL, it is an undisputed position that the software has, in fact, been ordered by the appellant and have been delivered to them by DHL - the appellant is to be considered as the importer

Notification: Exempts inter-state supply of heavy water and nuclear fuels from DAE to NPCIL

Notification: Seeks to amend notification No. 09/2017-IT(R) to exempt right to admission to the events organised under FIFA U-17 World Cup 2017

Notification: Seeks to amend notification No. 08/2017-IT(R) to reduce CGST rate on specified supplies of Works Contract Services

Notification: Exempts intra state supply of heavy water and nuclear fuels from DAE to NPCIL

Notification: Seeks to amend notification No. 12/2017-CT(R) to exempt right to admission to the events organised under FIFA U-17 World Cup 2017

Notification: Seeks to amend notification No. 11/2017-CT(R) to reduce CGST rate on specified supplies of Works Contract Services.

News: Tax on fuel more important for a dry state like Gujarat

Highlight: For an ayurvedic medicine to be classified under Chapter 30 has to pass the test whether it is for cure of any disease. If the same is only meant for care, then such product would not fall under medicament.

Highlight: Demand of interest - the period of limitation that applies to a claim for the principal amount should also apply to the claim of interest thereon.

Highlight: Government issues new notifications under CGST, IGST and UTGST to grant fresh exemptions in respect of certain supplies.

Circular: Extension of time limit for submitting the declaration in FORM GST TRAN-1 under rule 117 of the Central Goods and Services Tax Rules, 2017

Article: SIMPLIFIED E-WAY BILL UNDER GST

Article: SERVICES UNDER REVERSE CHARGE UNDER GST REGIME

Highlight: Rate of exchange of conversion of the foreign currency with effect from 22th September, 2017 - Notification

Highlight: Companies (Acceptance of Deposits) Second Amendment Rules, 2017 - Notification

Highlight: Implementing Electronic Sealing for containers by exporters under self-sealing procedure prescribed by Circular 26/2017-Cus dated 1st July, 2017 and Circular 36/2017 dated 28 th August, 2017. — reg. - Circular

Highlight: Amendment to Paragraph 2.72 (b) of the Handbook of Procedures of the Foreign Trade Policy (FTP) 2015-20 - Public Notice

Notification: Amendment in Appendix 3 (SCOMET items) to Schedule- 2 of ITC (HS) Classification of Export and Import Items 2012



|| 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