SIGN IN SUBSCRIBE

News Update

Cus - When there is nothing on record to show that appellant had connived with other three persons to import AA batteries under the guise of declaring goods as Calcium Carbonate, penalty imposed on appellant are set aside: HCCus - The penalty imposed on assessee was set aside by Tribunal against which revenue is in appeal is far below the threshold limit fixed under Notification issued by CBDT, thus on the ground of monetary policy, revenue cannot proceed with this appeal: HCGST -Since both the SCNs and orders pertain to same tax period raising identical demand by two different officers of same jurisdiction, proceedings on SCNs are clubbed and shall be re-adjudicated by one proper officer: HCFormer Jharkhand HC Chief Justice, Justice Sanjaya Kumar Mishra appointed as President of GST TribunalSale of building constructed on leasehold land - GST implicationI-T - If assessee is not charging VAT paid on purchase of goods & services to its P&L account i.e., not claiming it as expenditure, there is no requirement to treat refund of such VAT as income: ITATBengal Governor restricts entry of State FM and local police into Raj BhawanI-T - Interest received u/s 28 of Land Acquisition Act 1894 awarded by Court is capital receipt being integral part of enhanced compensation and is exempt u/s 10(37): ITATCops flatten camps of protesting students at Columbia UnivI-T - No additions are permitted on account of bogus purchases, if evidence submitted on purchase going into export and further details provided of sellers remaining uncontroverted: ITATTurkey stops all trades with Israel over GazaI-T- Provisions of Section 56(2)(vii)(a) cannot be invoked, where a necessary condition of the money received without consideration by assessee, has not been fulfilled: ITATGirl students advised by Pak college to keep away from political eventsI-T- As per settled position in law, cooperative housing society can claim deduction u/s 80P, if interest is earned on deposit of own funds in nationalised banks: ITATApple reports lower revenue despite good start of the yearI-T- Since difference in valuation is minor, considering specific exclusion provision benefit is granted to assessee : ITATHome-grown tech of thermal camera transferred to IndustryI-T - Presumption u/s 292C would apply only to person proceeded u/s 153A and not for assessee u/s 153C: ITATECI asks parties to cease registering voters for beneficiary-oriented schemes under guise of surveysST - Since Department itself admits that service carried out by appellant is that of 'Mining Services' w.e.f. 01.06.2007, thus demand for earlier period has been made only to fasten excess Service Tax demand on appellant which cannot sustain: CESTATICG rescues fisherman with head injury onboard IFB St. Francis off the Gujarat coastCX - When physical stock verification carried out by Officers was not fool proof and there were anomalies, benefit of doubt should be extended to assessee, duty demand confirmed on alleged clandestine removal is not sustainable: CESTAT
 
CX - CENVAT - Improper dimension of goods mentioned in invoices - no malafide intention can be attributed but this does not mean that penalty needs to be set aside - Penalty u/r 26 of CER, 2002 reduced: CESTAT

By TIOL News Service

MUMBAI, MAY 25, 2016: A penalty of Rs.1,00,000/- imposed u/r 26 of CER, 2002 was upheld by the lower appellate authority and against this order the appellant is before the CESTAT.

It is the case of the department that the appellant had issued "only” the invoices for availment of CENVAT credit by M/s. Cethar Vessels Pvt. Ltd.

Incidentally, the main noticeesettled their case by paying the excise duty and other penalties as well as the interest.

It is, therefore, submitted by the appellant that they being a co-noticee should be exonerated from payment of any penalty. The appellant relies on the amendment made in rule 26 of the CER, 2002 by the Union Budget, 2016 [ 8/2016-CE(NT) refers] wherein it is provided that penal proceedings against co-noticee shall be deemed to be concluded.

The Bench observed -

"6.1 On perusal of the records, I find that the adjudicating authority has imposed penalty of Rs. 1,00,000/- on the appellant. The lower authorities have come to a conclusion that appellant have not mentioned any dimensions of goods supplied hence there was malafide intentions. I find that there may be no malafide intentions but may be due to some genuine reason on the part of the appellant, improper dimensions may have been mentioned on the invoices. This would not mean that the penalty needs to be set aside as there is contravention of rules. While upholding the penalty on the appellant I reduce the penalty from Rs. 1,00,000/- to Rs. 50,000/- and dispose of the appeal as indicated herein above."
 

(See 2016-TIOL-1237-CESTAT-MUM)


POST YOUR COMMENTS
   

TIOL Tube Latest

TIOL Tube
Shri N K Singh, recipient of TIOL FISCAL HERITAGE AWARD 2023, delivering his acceptance speech at Fiscal Awards event held on April 6, 2024 at Taj Mahal Hotel, New Delhi.

TOP NEWS

AR not Afar by SK Rahman

VISION 360



Shri Ram Nath Kovind, Hon'ble 14th President of India, addressing the gathering at TIOL Special Awards event.

TII LATEST

TIOLCORPLAWS LATEST