TMI Blog2017 (7) TMI 194X X X X Extracts X X X X X X X X Extracts X X X X ..... ank charges and trade margin etc. If the transactions were one of trading, the appellant would have treated the sale value of goods as receipts from which expenditures is to be deducted instead of treating them as receipts. Taken in conjunction with the admitted fact that the appellant does not, at any stage, become the owner of the goods, there can be no doubt that the said income is not trading ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eriod from 1 st October 2004 to 31 st March 2009, the second disputes a demand of ₹ 4,07,52,876 for the period from 1 st April 2009 to 31 st March 2010 and the third disputes demand of ₹ 4,28,13,041 for the period from 1 st April 2010 to 31 st March 2011. 2. The appellant undertakes exports of goods procured from domestic clients against advance payments as per agreements and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... re negotiated by the clients of the appellant who not only bear the responsibility to make payments but also indemnify the appellant of all costs and consequences making the appellant an agent and not an independent entity acting on its own accord. It is his contention that the decision of the Hon ble Supreme Court in Hyderabad Industries v. Union of India [2000 (115) ELT 593 (SC)] cited by Le ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cts service charges of 2% on exports, bank charges and trade margin etc. If the transactions were one of trading, the appellant would have treated the sale value of goods as receipts from which expenditures is to be deducted instead of treating them as receipts. Taken in conjunction with the admitted fact that the appellant does not, at any stage, become the owner of the goods, there can be no dou ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
