Subscription   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
CGST - Acts + GST Rates GST Ntf. GST Forms GST - Manual GST - FAQ State GST Acts SGST Ntf. I. Tax Manual
Extracts
Home List
← Previous Next →

Vardhman Chemtech Limited Versus CCE Chandigarh

Clandestine removal - whether excise duty can be demanded on the basis of income surrendered before the Income Tax Authorities without adducing any independent evidence with regard to purchase of raw material, manufacture of finished goods and sale thereof or not?? - Held that: - reliance placed in the case of Arisudana Industries Ltd. Versus Commissioner of C. Ex., Ludhiana [2016 (2)986 - CESTAT CHANDIGARH], where it was held that duty is payable on manufacture of goods and no evidence has been .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

inst the impugned order demanding duty alongwith interest and imposing penalty on both the appellants. 2. The facts of the case are that the appellants surrendered a sum of ₹ 5.5 Cr before the income tax authorities, during the course of survey conduct in their business premises. The Revenue considered the income surrendered of ₹ 5.5 Cr as gross profit and on the basis of gross profit @ 21.4% calculated deemed sale to the tune of ₹ 25.7 Crore and Central Excise duty thereon. 3. .....

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 appellants submits that the excise duty payable for manufacture on clearance of the goods. The revenue has not adduced any evidence to indicate purchase to raw material manufacture of finished goods and clearance, therefore, the duty cannot be demanded. It is further submitted that the appellants are engaged in manufacturer of bulk drugs which is raw material to pharmaceutical units. There is no evidence of movement of goods and the statement of buyers to indicate that goods have actually mo .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 



|| 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