It is noted that the appropriation of the amounts, to the extent of Rs.18,32,782/-, towards the alleged service tax dues said to be payable by the petitioner, from the amount of Rs.47,00,094/- said to be due to the petitioner as export duty rebate, cannot be sustained in the eye of law. The petitioner ought to have been given a reasonable opportunity of hearing before the second respondent had appropriated the said amount towards the alleged excise duty liability of the petitioner.
Admittedly, the Chartered Accountant’s certificate to the effect that sale is on FOR basis and all expenses incurred up to the buyers premises form part of the cost of final product. Commissioner (Appeals) has also held in favour of the appellant, when he observed that the purchase orders are on FOR basis and it is the appellant who has to bear the freight and insurance by arranging transportation of the goods.
Appellants, Respondents and all other concerned are hereby informed that, in exercise of powers vested in the Income Tax Appellate Tribunal under sub-section [5] of section 255 of the Income Tax Act, 1961, it is directed that appeals and applications fixed before the Income Tax Appellate Tribunal [ITAT), Allahabad Bench, Allahabad will be heard through Video Conferencing by the Members of the ITAT as may be nominated by the President,
It may be noted that a confirmed demand remains an order in operation till it is stayed. Mere preferment of appeal itself does not operate as a stay. Hon’ble Supreme Court in case of Collector of Customs, Bombay Vs Krishna Sales (P) Ltd [1994 (73) E.L.T 519 (S.C)] has observed that As is well known, mere filing of an Appeal does not operate as a stay or suspension of the Order appealed against”. Accordingly, the above directions are hereby issued for initiating recovery of the confirmed demands. Circular No. 967/01/2013 – CX
In the instant case effect of the issue of right shares vis-a-vis original shares had not been fully kept in proper perspective by the Tribunal in its evaluation. Further the assessee was the chairman of the company and in fact that if he did not participate in buying right shares, that would have adverse effect on the value of the shares of the company
SUPREME COURT OF INDIA Commissioner of Income-tax versus Associated Industrial Development Co. (P.) Ltd. K.S. HEGDE AND A.N. GROVER, JJ. CIVIL APPEAL NO. 1929 OF1968 SEPTEMBER 7, 1971 JUDGMENT Grover, J. —This is an appeal by special leave from a judgment of the Calcutta High Court in an income-tax reference. The assessee is a private […]
Security of imported and export goods in Customs area is of utmost importance and any unauthorised access / entry should be prohibited at any cost. One methodology is to use video Cameras and CCTVs Systems. CVC has also emphasised the utility of video cameras and CCTVs Systems from the view point of preventive vigilance. It has however been noticed that Video Cameras and CCTVs Systems are not installed by many custodians / CCSPs.
I am directed to invite your attention to notification Nos. 12/2012-Customs (S.No.507) and 12/2012-Central Excise (S.No. 337 and 338), both dated 17-03-2012, granting exemption from customs and excise duties for provisional mega and ultra-mega power projects.
The issue of classification of cordless infrared devices for the remote control was taken up for discussion in the May, 2012 Mumbai Conference of Chief Commissioners of Customs and Directors General. The entries in National Import Data Base (NIDB) in tariff item 84159000 (Parts of heading 8415), Circular No.01/2013- Customs
The assessee has made the payment for availing e-mail infrastructure, which is owned by the parent company. It is using this e-mail infrastructure facilities for communication between its employees and outside business partners. Such facilities of secured internet facilities facilitates the day-to-day business operation of the assessee and does not bring into existence any enduring benefit or creation of a new asset to the assessee.
