"27 January 2013" Archive

SCN issued after death of proprietor is bad in law

Commissioner of Central Excise, Chandigarh Vs Shree Ambica Steel Industries (CESTAT Delhi)

Undisputedly, late Smt. Bimla Rani was the proprietor of the respondent firm M/s Shree Ambica Steel Industries. She died on 17.9.2006 and after her death the legal heir applied for cancellation of Excise registration in the name of the firm and the registration was admittedly cancelled by the Department in October, 2006. ...

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Buy-back of Shares and Company Law

Not only statute, but also common law, has upheld the ‘sanctity’ of a company’s capital. In 1887, in Trevor Vs. Whitworth 12 App Case 409, it was held that a company limited by shares may not purchase its own shares as this would amount to an unauthorized reduction of capital. ...

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Posted Under: Excise Duty |

Subsequent Sale (Sale in Transit) under CST Act, 1956

There are two types of inter-State sales. An inter-State sale contemplated by clause (b) is one, which is effected by transfer of documents of title to the goods during their movement from one state to another. Where the property in the goods has passed before the movement has commenced, sale will evidently not fall with in clause (b). ...

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Posted Under: Excise Duty |

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