EXCISE : Clarification on Self-Sealing and Self-Examination of Bulk Cargo – Prescribed Procedures for Allowing Export Without Sealing in Packages or Container
Friday, 30 October 2015
Removal of directors by forging sign on resignation letters amounts to oppression
CL: Right provided under sections 397 and 398 are statutory in nature and vested with parties to prevent oppression and mis-management against member or company and such reliefs cannot be granted by civil court; hence on dismissal/withdrawal of civil suit and approaching CLB, principles of res judicata not applicable
Case remanded as dept. failure to show that assessee had collected money which represents duty
Excise & Customs : Entire burden of proving that assessee has collected money representing duty/tax rests on revenue; however, where revenue had failed to discharge said burden, Tribunal was correct in remanding matter back
Credit of EC and SHEC can be used to pay service tax: CBEC
ST/INDIAN ACTS & RULES : Cenvat Credit (Fifth Amendment) Rules, 2015 – Amendment in Rule 3
Penalty can't be imposed if assessee doesn't acquire possession of goods which are liable to confisc
Excise & Customs: Where appellants were not found to have acquired possession or handled any excisable goods in any manner that was liable to confiscation, no penalty could be imposed
Non-compete fee wasn't taxable prior to AY 2002-03
IT: Where for assessment year 1996-97 under an agreement, assessee transferred one of its business to other company but continued its business using its own logo, trade name, licenses and permits, no part of non-compete fee received by assessee under aforesaid agreement could be treated as considerations for goodwill and it was not taxable as income
AO designated to collect AIR info couldn't issue reassessment notice if he didn't have jurisdiction
IT: Reassessment by jurisdictional Assessing Officer on basis of notice issued by Income-tax Officer collecting AIR information, but having no jurisdiction over assessee, is invalid
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