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Whether assessee is entitled to the benefit of disallowance of commission purportedly paid by assessee to its commission agents for procurement of order for supply of liquor. Whether High Court can exercise jurisdiction in absence of any question of perversity of the finding of the tribunal.
The Hon’ble Apex Court held that even though the goods were found to be different, payment of duty taking comparative value was done with bona fide belief. When entire exercise was revenue neutral (i.e. credit of duty paid on captive consumption was available to the Appellant itself), the Appellant could not have achieved any purpose to evade duty.
The Hon’ble Supreme Court held that the provisions of Section 113(d) of the Customs Act would get attracted and goods may be liable for confiscation when value of goods in invoices is exaggerated. Commissioner of Customs, Lucknow Vs. G.P. Jaiswal [2015 (57) Taxman 295 – SC]
The Hon’ble Supreme Court held that since CT-3 certificates were filed before the Department, no clearance could have taken place without the knowledge of the officer as to the ultimate destination of the goods and the fact that they were cleared without payment of duty in terms of the exemption notification, which was specified in the application.
Whether it is open to the assessee to claim depreciation for the current year and not claim unabsorbed depreciation of the previous years. Whether it is unabsorbed investment allowance which is to be allowed as set off in computing the income of the assessee or unabsorbed depreciation.
The Hon’ble Supreme Court held that it was not case of wilful misstatement, since all the facts and manner were disclosed in letter addressed to the Department. Hence, extended period could not be invoked.
In the instant case, Sanjay Industrial Corporation (the Appellant) was engaged in profile cutting viz. cutting larger size plates into small size and shapes using gas cutting machines, as per requirements of customers. The Department invoked extended period of limitation alleging that the process carried out by Appellant amount to manufacture and thus exigible to Excise duty.
In the Instant case, the Department alleged undervaluation and clandestine clearances on ground that Synfab Sales (the Respondent) was clearing the goods from its factory gate at very low value in the name of non-existing firms, while the goods were actually being cleared to godown at Bhiwandi (Maharashtra) and Surat (Gujarat) from where they are subsequently being sold through brokers to actual buyers at a higher value.
We are sharing with you an important judgment of the Hon’ble Supreme Court, in the case of Commissioner, Customs and Central Excise, Aurangabad Vs. Roofit Industries Ltd. [(2015) 57 taxmann.com 363 (SC)]on the following issue
Supreme Court Upholds Applicability of Renewable Purchase Obligation on Captive Power Plants; Order a Positive Development and will Help Renewable Energy Growth in the Country The Supreme Court order dated 13 May 2015 in the case between the Hindustan Zinc vs Rajasthan Electricity Regulatory Commission on the applicability of Renewable Purchase Obligation (RPO) regulations has […]
