Excise duty demand of approximately 24 crores against Volkswagen India was quashed on the amount recovered as liquidated damages on the ground of non-violation of Rule 6 of the Central Excise Rules,2002 and in the event of rejection of the invoice value as transaction value, it was not open to the adjudicating authority to re-determine value without recourse to Rule 6 of Central Excise Rules.
Department did not have a case that assessee had not discharged Service Tax on the agency commission received as a Steamer Agent or CHA.
Deduction claimed by assessee in return of income which was directly relatable to the insurance activities, as it did not fall under section 80P(2) i.e., Insurance activities.
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