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On a day of charges and rebuttals, Communications Minister Kapil Sibal was rebuked by the Supreme Court Friday for his remarks that the official auditor was utterly erroneous in assessing the loss on award of second generation (2G) telecom spectrum at Rs.1.76 lakh crore, while ordering an unbiased probe.
Commissioner of Customs (Import) vs Stoneman Marble Industries and others [SUPREME COURT OF INDIA) – Apex Court do find some substance in the submission of learned counsel for the Revenue that a standard formula cannot be laid down for imposition of redemption fine and penalty under the aforenoted provisions of the Act and each case has to be examined on its own facts but when a final fact finding body returns a finding that the facts obtaining in each of the cases before it are similar, and such finding is not questioned, levy of redemption fine or penalty uniformly in all such cases cannot be construed as laying down an absolute formula, which is the case here. We are convinced that the Revenue did not discharge its burden under Section 130A of the Act in as much as it did not specifically challenge the Revenue’s aforestated finding as being perverse. In this view of the matter, the High Court was justified in declining to issue direction to the Tribunal to make a reference under Section 130A of the Act.
This Court has upheld the conclusion of the Tribunal that the physician’s samples have to be valued on pro-rata basis. The Tribunal, while arriving at the aforesaid conclusion, had relied upon its earlier decision in the case of Commissioner of Central Excise, Calicut vs. Trinity Pharmaceuticals Pvt. Ltd., reported as 2005 (188) ELT 48, which has been accepted by the department. Therefore, we hold that physician samples have to be valued on pro-rata basis for the relevant period.
The Supreme Court last week settled different views expressed by the Bombay and Karnataka high courts and allowed the appeals of the Commissioner of Income Tax, ruling that interest under Sections 234B and 234C of the Income Tax Act shall be payable on failure to pay advance tax in respect of tax payable under Section 115JA/115JB. In two appeals by the commissioner, against rulings in favour of Rolta India Ltd and Export Credit Guarantee Corporation, the Supreme Court delivered judgement in favour of the revenue department on the issue which arose, namely, interest under Section 234B can be charged on the tax calculated on book profits under Section 115JA. In other words, advance tax was payable on book profits under Section 115JA. Appeals by Nahar Exports and Lakshmi Precision Screws Ltd were dismissed.
The Supreme Court held last week that an arbitrator is bound to give detailed reasons for his award and if he does not do so, the award will be invalid. In this case, State of Uttar Pradesh vs Combined Chemicals Co Ltd, the company agreed to supply zinc sulphate to the state agricultural department. However, when the government received a lower offer, it did not carry forward with the arrangement with Combined Chemicals.
The Supreme Court held recently held in the case of Pushpa @ Leela & Ors. Versus Shakuntala & Ors that the insurance company will be liable to pay compensation for road accident death even if the owner had sold the vehicle so long as his name is the official register. The previous owner might have handed over possession of the vehicle to the buyer, but he and his insurer continued to be liable to pay compensation to third parties if the insurance policy is in his name. In this case, Pushpa vs Shakuntala, the owner sold the truck to another person. But the vehicle was insured by Oriental Insurance Company in the previous owner’s name. There was an accident killing three persons. Their dependents moved the motor accident claims tribunal against Oriental and the previous owner. The tribunal and the Himachal Pradesh high court held that the previous owner had no liability as he was no longer the owner of the vehicle. They ruled that the new owner alone was liable to pay. The dependents appealed to the Supreme Court. The insurance company argued in the Supreme Court that the liability should entirely be that of the new owner as the old owner had lost control of the vehicle after the sale. Reversing this view, the Supreme Court made the insurance company liable to pay the compensation amount.
The Supreme Court last week dismissed the appeal of Usha Rectifier Corporation challenging the levy of central excise on products which were used for research and development. The company manufactures electronic equipment. It bought components and assembled them for R & D. The company argued that there was no manufacture of any product which was marketable and therefore it was not liable to pay excise duty. It further contended that the equipment were used within the factory and it was not taken out of factory gates. The item was dismantled within the factory itself. Rejecting the argument, the Supreme Court ruled that “even if the equipment were used for captive consumption and within factory premises, considering that they were saleable and marketable, duty was payable on the goods.” Apart from capitalisation of the manufacturing process in the balance sheet, the company’s assertion that the equipment was meant to save foreign exchange by developing indigenous products, was an admission that the goods were marketable. Such products would be “deemed to have been removed from the factory premises for consumption,” the judgment said.
Service providers under licence from the Airports Authority of India (AAI) have to pay service tax and the liability is not that of AAI, the Supreme Court ruled last week in the case, Sparkway Enterprises vs Commissioner of Central Excise. AAI had entered into a licence agreement with the firm for collecting airport admission charges on behalf of AAI at Calicut airport. The Central Board of Excise and Customs had clarified in 2004 that services provided at airports have to pay service tax. When the authorities demanded service tax from the firm, it refused to pay arguing that it was not permitted to collect service tax from the public and the duty was on AAI. The latter was the principal service provider and the assessee firm was only a collecting agent. Rejecting the contention, the Supreme Court stated that according to the licence agreement, the firm was obliged to pay all rates and taxes.
With advocate Prashant Bhushan — facing contempt of court charges for his interview alleging corruption in judiciary — making it clear that he would not tender an apology, the Supreme Court on Thursday decided to proceed with the case on merits.
The conclusion of the Tribunal to the effect that the assessee has failed to prove the source of the cash credits cannot be said to be perverse, giving rise to a substantial question of law. The Tribunal being a final fact finding authority, in the absence of demonstrated perversity in its finding, interference therewith by this Court is not warranted.
