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 →

N.S. Mahadeshwara Versus Commissioner of C. Ex., Bangalore (Adjn.)

Penalties imposed under Section 11AC and Rules 25 and 26 of the Central Excise Rules - Duty was deposited before issuance of SCN - Held that:- As there is no dispute about the fact that such short payment, which according to the appellant has occurred inadvertently, on account of non-computation of the value of clearances, was detected by themselves only. The said fact of exceeding the exemption limit came to the notice of the appellant by way of their own audit. As such, in such a scenario, no .....

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 lower authorities by issuing show cause notice to the appellant.

Having said so we set aside the impugned orders of the authorities below upholding the penalties imposed under Rules 25 and 26 of the Central Excise Rules. Inasmuch as penalties stand set aside, imposed in terms of the above Rule, no infirmity can be found for non-imposition of penalty under Section 11AC. Accordingly the Revenue’s appeal is required to be rejected. - Decided in favour of assessee - E/601, 602/2009-SM .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

manufacture of Tool Holders and Boring Bars. During the financial year 2006-07, he was availing the small scale exemption benefit in terms of Notification No. 8/2003-C.E., dated 1-3-2003, which granted total exemption to the first clearance of ₹ 1,00,00,000/- (Rupees One Crore only). However the appellant crossed the said exemption limit on 13-2-2007. However, without realizing that they have crossed the said exemption, they continued to clear their final product without payment of duty. .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

said fact was reflected by them in the monthly return filed in May, 2007. 4. On the above basis appellant was served with a show cause notice on 27-2-2008 proposing imposition of penalties upon them in terms of Section 11AC and on the other two assessees being Managing Partner and Partner, for imposition of penalties under Rule 26 of Central Excise Rules. The original adjudicating authority imposed penalty to the extent of 100% of duty, in terms of Section 11AC. In addition he imposed penal .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

concluded that inasmuch as there is nothing on record to suggest investigation or other measure by the Department before the date of disclosing facts by the appellant, imposition of penalty upon them under Section 11AC of Central Excise Act was not warranted. He accordingly set aside the same. However he upheld the penalties imposed under Rule 25 and Rule 26 on the present appellants, on the ground that they have admittedly contravened the provisions of the Central Excise Act. 6. The said .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ellant himself and was informed to the Revenue. Duty was paid by him on his own, without any intervention by the Revenue within a period of one month from the date of detection and the said fact was reflected in the return filed in May, 2007. As per the provisions of Section 11A(2B) of Central Excise Act where duties not levied are paid by an assessee on his own ascertainment of such duty or on the basis of duty ascertained by a Central Excise Officer before service of notice on him, there will .....

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     ↓  

Forum: 3B mistake

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

Forum: Manpower Service provider

Article: 20 Things You must know about E Way Bills in GST Law

Article: ‘DUTY DRAWBACK’ CANNOT BE EQUATED WITH ‘REBATE OF DUTY’

Forum: GST on Notional rent

Highlight: Notification regarding GST rate for branded cereal, pulses and flour

News: Notification regarding GST rate for branded cereal, pulses and flour

Highlight: Anti-dumping duty on import of bus/truck tyres from China

Highlight: Cabinet approves Extension of time period of the Scheme "Special Industry Initiative for J&K" (Sll J&K) - Udaan

Highlight: Non-payment of service tax - maintenance and repair charges - appellants had knowingly and deliberately shown the repair charges as job work charges to mislead about their taxability - demand confirmed.

Highlight: BAS - execution of the project of smart card for vehicle registration – implementing the SOC-VRC project - The fact that the Government has outsourced some part of the work and paid certain consideration for such outsourced work, does not make the activity subject to service tax.

Forum: Input tax credit

Forum: Cess paid instead of SGST

Circular: Amendments in Hand Book of Procedures 2015-20 –reg.

News: Cabinet approves Extension of time period of the Scheme "Special Industry Initiative for J&K" (Sll J&K) - Udaan

Highlight: Constitution of National Anti-profiteering Authority (NAA) under GST-reg. - Trade Notice

Highlight: Amendments in Hand Book of Procedures 2015-20 –reg. - Various amendments are made in Chapter-4 of Hand Book of Procedures 2015-2020.

Forum: GST rates on mobile recharge business

Circular: Constitution of National Anti-profiteering Authority (NAA) under GST-reg.

Highlight: Sharing of expenses - BAS - promotion of business of group companies - sharing of expenditure for common facilities cannot be treated as service by one to another in such arrangement.

News: RBI Reference Rate for US $

Article: Credit of unsold stock [Section 140(3)] - Actual Credit as well as Notional Credit - Part-I - GST Transitional provisions

Circular: Certain Clarifications sought on Construction Services provided in the Real Estate Sector – reg.

News: Anti-dumping duty on import of bus/truck tyres from China

News: Fast-track GST refund, else ₹ 65K cr may be stuck: Exporters

Highlight: It is open to the Settlement Commission to use best judgment in arrival of the figure. Nonetheless it has to explain the manner in which the best judgment figure has been arrived at by the Settlement Commission - HC

Highlight: Deemed dividend u/s 2(22)(e) - advances given to societies - in the absence of legal right of the assessee in the said society the amount advanced cannot be treated as deemed income.

Highlight: When electrical installations are treated as plant and machinery the depreciation has to be allowed @ 25% as per provisions contained u/s 32

TMI Note: Capital Gain - transfer of right in the land or transfer of land itself - addition u/s 50C - Harassment to the honest tax payers

Highlight: Option to avail composition scheme under GST by electronically filing an intimation in FORM GST CMP-02 and FORM GST ITC-03 upto 30-9-2017 - See Rule 3(3A)

TMI Note: Does ICDS apply for the purposes of computing exemption u/s 11 to 13.

Highlight: Voluntary Reporting of Estimated Current Income and Advance Tax Liability - CBDT issues draft notification

TMI Note: Certain ICDS provisions are inconsistent with judicial precedents. Whether these judicial precedents would prevail over ICDS.

Highlight: Provisions of ICDS shall prevail w.e.f. AY 2017-18 to the transactional issues dealt therein over earlier judicial pronouncements.

Notification: Levy of anti dumping duty on New/unused pneumatic radial tyres with or without tubes and/or flap of rubber (including tubeless tyres) having normal rim dia code above 16 originating in, or exported from China PR

News: Voluntary Reporting of Estimated Current Income and Advance Tax Liability

TMI Note: In case of conflict between ICDS and other specific provisions of the Income-tax rules, 1962 governing taxation of income like rules 9A, 9B etc. of the Rules, which provisions shall prevail.

TMI Note: Does ICDS apply to computation of Minimum Alternate Tax (MAT) u/s 115JB of the Act or Alternate Minimum Tax (AMT) u/s 115JC of the Act.

TMI Note: Where a term has not been defined under ICDS, nor under the Act, but has different interpretations given to it by the courts in tax cases, and in ICAI Accounting Standards, which interpretation would prevail while interpreting ICDS.

TMI Note: Whether the provisions of ICDS apply to a non-resident who claims the benefit of a double taxation avoidance agreement (DTAA).

TMI Note: In case any of the ICDS provisions is contrary to a circular or press release issued by the CBDT, which would prevail over the other.

TMI Note: ICDS-I requires disclosure of significant accounting policies and other ICDS requires specific disclosures. Where is the taxpayer required to make such disclosures specified in ICDS.

Notification: Income Computation and Disclosure Standards (ICDS) - New ICDS to be effective from AY 2017-18

News: RBI Reference Rate for US $

Highlight: GST - Detention of goods under transport - discrepancy in documents - the statutory provisions provide a mechanism for adjudication following detention of goods including for the provisional release thereof pending adjudication - HC

Highlight: Reassessment - first few paragraphs of the assessment order dealt with objections and disposed of accordingly - Unfortunately, the manner in which the AO has decided the issue is wholly unsustainable in law - HC

Highlight: Business expenditure u/s 37 - liquidated damage - breach of contract terms - Expenditure was not incurred for any purpose which is an offence or which is prohibited by law - cannot be disallowed - HC

Highlight: Valuation - inclusion of reimbursement of expenses - managing participation of clients in certain mela, fairs, promotional activities etc. - They are liable to service tax on the gross amount received - They cannot restrict their tax liability to only agency commission

Highlight: TDS liability - ITAT confirmed the liability - We do not see how it is possible for us to uphold the order of the Tribunal and when it purports to decide two Appeals of the Revenue by single paragraph conclusion - HC



|| 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