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Settlement Commission

Latest Posts in Settlement Commission

Case Analysis: Kakadia Builders Pvt Ltd Vs ITO (SC) on Settlement Commission

October 8, 2024 399 Views 0 comment Print

Supreme Court reviews the Kakadia Builders case, addressing Settlement Commission’s authority to waive interest under Sections 234A, 234B, and 234C of the Income Tax Act.

Settlement Commission has jurisdiction over the case which involves search assessments where block assessments are to be completed under section 158BC

July 24, 2009 658 Views 0 comment Print

19. The first fundamental issue is whether the Commission has at all jurisdiction to deal with this case which involves search assessments where block assessments are to be completed u/s 158BC. The arguments of the learned CIT(DR)s appear quite weighty and persuasive. However, the arguments of” the learned AR of the applicant are logical and convincing

Whether the yearly ‘declaration’ filed, by a small scale manufacturer can be treated as a ‘return’ under Sec. 32E(1) of the Central Excise Act.

June 28, 2005 3463 Views 0 comment Print

Yes. As discussed supra. A return of production, clearance and duty paid in the prescribed manner, is a statutory requirement. In the absence of a specific reference in Section 32E to ER1/ER3 i.e. monthly/quarterly returns prescribed under Rule 12 of the Central Excise Rules, since the ‘declaration’ filed by a small scale manufacturer also contains the basic particulars of estimated production and clearances though not the duty paid, as the product is totally exempt, and keeps the Department aware of the bona fide existence of the applicant, the yearly declaration can be deemed to serve the purpose of ‘return’, in so far as Sec. 32E(1) of the Central Excise Act is concerned.

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