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

M/s. Imperial Tubes Pvt. Ltd. Versus Commissioner of Central Excise, Kolkata

Clandestine removal of manufactured goods - M.S. ERW Black Pipe & M.S. Scrap falling under chapter sub-heading No.7306.90 & 7204.90 of Central Excise Tariff Act, 1985 - Held that: - reliance placed on the decision of the case of Umiya Chem Intermediate vs. Commissioner of C.Ex. & Cus [2008 (7) TMI 376 - AHMEDABAD HIGH COURT], where the issue is similar - it was held in the case that when there is proper appreciation of evidence on record on the basis of the incriminating documents found in the p .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

30,725/-(Rupees Thirty Thousand Seven Hundred and Twenty Five only) on the stock found short is overlapping and it is inclusive of the total demand raised. On this limited portion alone, I remand the matter to the Adjudicating Authority to verify the same with the records. On the basis of the above findings I uphold the impugned Order-in-Appeal except to the limited portion remanded. Appeal is disposed of accordingly - Appeal No. E/445/07 - Order No. FO/A/76151/2016 - Dated:- 8-11-2016 - Shri P. .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

Quarter Anti Evasion Unit of Calcutta-II, visited the factory premises of the Appellant and conducted stock verification of the finished goods. During the period 17.02.1998 to 04.06.1998, it is alleged that the said company cleared 544.013 M.T. of M.S. ERW Black Pipe and 25.87 M.T. M.S. Scraps valued at ₹ 84,32,886.20 and ₹ 1,45,518.75 respectively involving duty of ₹ 14,36,761.00 from their factory without recording the same in any of the statutory Central Excise records/docum .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ount of ₹ 4.00 Lakhs deposited by the Appellant was appropriated and also imposed equal penalty under Section 11AC and also ordered recovery of interest at the appropriate rate under Section 11AB of the Central Excise Act, 1944. The Appellant being aggrieved, preferred an appeal before the Ld.Commissioner(Appeals), who rejected the Appellant s Appeal and upheld the Order-in-Original. 3. Heard both sides and perused the Appeal records. 3.1 I find from the records that the Appellant s factor .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ted by the department, it appears that the Appellant was in the practice of removing their final product under the cover of duplicate set of Challans without paying Central Excise duty and without observing any Central Excise formalities. Stock of finished goods lying in the factory of the Appellant was verified in the presence of the Appellant s authorized representative and shortage of 11.813 M.T.s of M.S. ERW Black Pipes and 25.87 M.T. of M.S. Scraps were found. Further statements were also r .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

notebook and the statements taken from the Appellant s Supervisor and Director of the company without any corroborative evidence. This is not acceptable for the reason since it is crystal clear from the impugned order that the recordings in the private notebook which was seized from the Appellant s premises is clearly tallying with the second set of challans which were seized, proves beyond doubt the Appellant s modus operandi. Further the statements given by the Supervisor and the Director of t .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ry investigation was carried out, the Appellant s representative was present and no objections were raised by them at any stage of investigation and they have signed the report as a token of acceptance of the same. Therefore, the grounds raised by the Appellant are not acceptable. The Ld.Counsel further submits that the waste and scrap which was removed without payment of duty was generated during the construction of factory, is not corroborated with any evidence and hence not acceptable. 3.4 Th .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 

  ↓     Latest Happening     ↓  

Forum: 3B mistake

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

Forum: GST return filing software online | Easy GST compliance management

Forum: Input credit of gst paid on urd

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

Forum: Input tax credit

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)

Forum: GST on Notional rent

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.

Highlight: Genuineness of labour wages expenses, embroidery charges, fabrication expenses etc. - getting work done through small workmen who do not have any permanent place of residence - disallowance of ad hoc expenditure deleted.

Highlight: Project import - Since the goods were never used for the purpose for which it was imported, the actual user condition has been violated - Redemption fine and penalty imposed.

Highlight: Penalty u/s 112 (a) - CHA - Lack of due diligence and failure to take more precautions can not, by itself, bring in penal consequences

Highlight: Import of services - GST - The fact that those services were received outside India will not change the fact that the services have been paid for by the beneficiary appellant, who is located in India. - Demand confirmed.

Notification: SEZ for IT/ITES at Madhurwada Village, Visakhapatnam District in the State of Andhra Pradesh - denotified.

Highlight: Merely because payment is received in Indian rupee, it cannot be said that payment against export has not been received in convertible foreign exchange.

Highlight: Merely vehicle numbers was not mentioned on the invoices cannot be the reason to deny Cenvat Credit

Highlight: Extension of time limit for submitting the declaration in FORM GST TRAN-1 under rule 120A of the Central Goods and Service Tax Rules, 2017 - Circular

Circular: Extension of time limit for submitting the declaration in FORM GST TRAN-1 under rule 120A of the Central Goods and Service Tax Rules, 2017

News: Auction for Sale (Re-issue) of Government Stocks

Article: TDS APPLICABILITY ON GOVERNMENT CONTRACTS UNDER GST (Under Section 51 of the CGST Act, 2017)

News: Manmohan takes potshots at note ban, 'hasty' rollout of GST

News: GST on petrol, diesel requires wider discussion: Nitish

Article: WHEN CAN ONE TAKE ITC FOR RCM CASES?

Notification: TDS liability under Section 51 of CGST, 2017 come into force w.e.f. 18-9-2017 - Persons liable to deduct TDS from payment made or credited to the supplier of taxable goods or services specified

Notification: Central Goods and Services Tax (Seventh Amendment) Rules, 2017

Notification: Seeks to extend the last date for filing the return in FORM GSTR-3B for the months of August to December, 2017



|| 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