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

Sri Kolli Venkata Mohan Rao. Versus Commr. of Customs

Rectification of mistake - Section 74 of the Finance Act, 1994 - Demand of Service tax in terms of Section 73 of the Act on residential complex service - Petitioner contended that the sum of ₹ 41,14,69,442/-, referred to by them before the assessing authority, was a typographical mistake and the correct receipts, for the project of construction of 928 houses for the Financial Year 2008-09, was only ₹ 4,14,69,442/-. - Held that:- in the exercise of its Certiorari jurisdiction, thi .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

nconsistent, we see no reason to interfere with the well-reasoned order passed by the Commissioner. Rejection of the application, for waiver of pre-deposit, by the CESTAT would only enable the respondent to collect the amount demanded from the petitioner towards service tax, interest and penalty. It would not result in the dismissal of the appeal itself. As the CESTAT has the power to examine the material on record, reappreciate the evidence, and arrive at a finding different from that of the ad .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

Tax dated 17.03.2015 rejecting the petitioner s application, for rectification of the mistake, under Section 74 of the Finance Act, 1994 (for short the Act ). Facts, to the extent necessary, are that the Commissioner of Central Excise, Visakhapatnam initiated investigation against the petitioner, and a show cause notice dated 30.12.2008 was issued to him. On the petitioner furnishing information, by his letter dated 14.10.2009, a second show cause notice dated 22.10.2009, covering the Financial .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

or a total sum ₹ 4,75,69,781/-. In addition, interest under Section 75, and penalty under Sections 76, 77 and 78 of the Act, were also imposed. Aggrieved thereby, the petitioner carried the matter in appeal to the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) in S.T.No.25304 of 2013 together with the stay application in S.T.No.25384/2013. In its order dated 09.01.2014, the CESTAT noted that, with regards construction of residential complex service, the claim of the appellant .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

CESTAT directed the petitioner herein to make pre-deposit of ₹ 3.4 crores within a period of six weeks, and report compliance by 21.02.2014. Aggrieved thereby, the petitioner herein filed Central Excise Appeal No.31 of 2014 and this Court, in its order dated 14.03.2014, observed that the CESTAT had rightly exercised its discretion to make the deposit; and, instead of ₹ 3.4 crores directed to be deposited by the CESTAT, it would suffice if the appellant (petitioner herein) deposited a .....

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 appeal. Sri S.V.S.Chowdary, learned counsel for the petitioner, would submit that, as against the pre-deposit directed by the High Court of ₹ 3.00 crores, the petitioner had deposited ₹ 1.5 crores. Sri Gopalakrishna Gokhaley, learned Standing Counsel for the respondent, however, states that he is unaware of any such deposit. Be that as it may, it is not in dispute that the order of this Court, in CEA.No.31 of 2014 dated 14.03.2014 directing the petitioner to deposit a sum of ₹ .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

n for rectification was rejected by the Commissioner of Central Excise, Customs and Service Tax on 17.07.2014, on the ground that no action could be taken, by them at their end, as the matter was under consideration before the CESTAT, Bangalore; and, in view of the judgment of the High Court in CEA.No.31 of 2014 dated 14.03.2014, wherein it was held that the Tribunal or the appellate forum had to decide the issue whether the figure, mentioned in the impugned order, was correct or not. Aggrieved .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

dent was directed to consider the application, for rectification of mistake under Section 74(2) of the Act, on its own merits and, in accordance with law, after affording the petitioner an opportunity to make his claim of the alleged typographical mistake. Consequent thereto, the impugned order dated 17.03.2015 was passed. The Commissioner has, in his order dated 17.03.2015, given elaborate reasons why the petitioner s claim of rectification of mistake does not merit acceptance. The 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

gures adopted in the show cause notice to arrive at the liability; he had attached a copy of Annexure-I, of the show cause notice dated 22.10.2009, to said letter dated 19.11.2009; in the copy of Annexure-I the sum of ₹ 59,02,61,437/-, at Sl.No.3 and column No.3 of the Table, was rounded off, and ₹ 22,02,61,207/- was written with a pen; similarly, the total amount of ₹ 68,68,45,146/- in column No.3 was rounded off, and ₹ 30,64,28,271/- was written by pen; such writings wi .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

tter dated 19.11.2009; this table was similar to the table given in their letter dated 14.10.2009 before issue of the show cause notice; the amount of ₹ 41,14,69,442/- at Sl.No.5 was replaced with ₹ 4,14,69,442/-; the fact of this replacement, and the reason for doing so, was not mentioned either in the attachment or in the main letter; the said letter dated 19.11.2009 did not make any mention that the same had any enclosures; the attached statement did not have any signature authent .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

tion of the mistake in paras 13(c), 22, 24 & 25 of the order dated 28.09.2012; what was stated, in the said paras, was the statement of facts in respect of the said order dated 28.09.2012, and was beyond the scope of Section 74 of the Finance Act, 1994; there was no mistake apparent from the record in respect of the Order-in-Original dated 28.09.2012; consequently, there was no scope for Rectification of Mistake in terms of Section 74 of the Finance Act, 1994; and the applications for Rectif .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

d received only ₹ 4.98 crores; and it was evident that the figure was erroneously reflected as ₹ 41,14,69,442/-, instead of ₹ 4,14,69,442/-. A typed statement, allegedly the ledger extract, was placed before us by Sri S.V.S. Chowdhary, Learned Counsel for the petitioner. The typed sheet shows that a sum in excess of ₹ 4.98 crores, was received, and not ₹ 4,14,69,442/-. The relevant extract of the ledger for the year 2008-09, in so far as it related to the amounts re .....

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     ↓  

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

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

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.

Forum: import purchase

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 $

Forum: 3B mistake

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

Highlight: Reopening of assessment - sufficiency of material available with the AO to form a belief that income chargeable to tax had escaped assessment - bogus purchases - seller refused to respond - notice would not be interfered with - HC

Highlight: Exemption u/s 11 - education activities - transport and hostel facilities surplus cannot be considered as business income of the assessee society

News: Draft Notification for insertion of new rule 39A in the Income-tax Rules, 1962 – comments and suggestions-reg.



|| 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