SIGN IN SUBSCRIBE

News Update

Misc - Royalty not a tax; royalty is contractual consideration paid by mining lessee to lessor for enjoyment of mineral rights & liability to pay royalty arises out of contractual conditions of mining lease: SC CBMisc - Payments made to Government cannot be deemed to be a tax merely because statute provides for their recovery as arrears: SC CBMisc - Since power to tax mineral rights is provided for in Entry 50 of List II, Parliament cannot use its residuary powers in this subject matter: SC CBCus - Owner of goods has a liability to pay customs duty even after confiscated goods are redeemed on payment of fine - Interest follows: SCI-T- Demand notice issued mechanically merits being quashed, where passed in ignorance of assessment order giving clean chit to assessee: HCIndia discovers Lithium Resources in Mandya and Yadgiri districts of KarnatakaI-T- No disallowance under section 36(1)(iii) can be made if funds are available with the assessee, which are sufficient to meet the investment: ITATIndia's installed Nuclear Power Capacity to triple by 2031-32: MoSI-T- Penalty rightly quashed where assessment order proposing penalty is itself quashed: ITATGoyal sets USD 50 bn target for footwear industry to achieve by 2030I-T- Where public trust claims deduction under Chapter VIA & due to absence of separate provision in ITR for Section 80GGA at time of filing it, then claim being clubbed u/s 80G is valid: ITATIndian-origin German citizen nabbed with 6 kg of cocaine at IGI AirportIndia to remain steadfast in commitment to nurturing adolescents' talents: Health SecyAI-based SearchGPT to compete with Google: OpenAII-T- Assessee's acceptance of the cash in the form of SBNs, assessee being an Urban Cooperative Bank, which is not being covered by the RBI Circular, cannot be considered as unexplained for addition U/s. 68 of the Act: ITATDelhi liquor scam: United Spirits CEO summonedVAT - burden of proof lies with Department to verify & approve refunds to ultimate taxpayers: HCBiden to attend QUAD meeting to be held in New Delhi this yearST - Appellant is entitled to avail CENVAT Credit on re-insurance of motor vehicles and credit availed by it during relevant period from April, 2011 to March, 2012 on this score were all admissible credit: CESTATChinese youth furious over appeal to raise retirement ageST - As there is no positive act established against appellant with regard to suppression of facts, the period being transitional period, invocation of extended period was set aside: CESTATUS & allies allege North Korean hackers of stealing military secretsCus - Assessee-company is not liable to pay interest on deferential Customs duty arising out of the final assessment of bills of entry: CESTATMexican drug lords arrested in USCX - Cenvat credit of input services as per Rule 6(5) of CCR 2004, is allowed, even if such services are partly used for exempted businesses: CESTATNew Income tax Code to be developed internally by CBDT, says Revenue SecretaryCus - Department has not established any positive act on the part of appellant in regard to suppression of facts with intent to evade Customs duty, no grounds found for invocation of extended period, demand of CVD along with interest and imposition of penalties cannot sustain: CESTATKejriwal to remain in judicial custody till Aug 8CX - Refund of pre-deposit is governed by Section 35FF of Central Excise Act, 1944 and rate of interest is governed by statutory provisions and notifications issued in this regard, appellants are entitled for payment of interest as per provisions of Section 35FF and at the rate prescribed therein: CESTAT

MESSAGE BOARD

   

Enhancing period of limitation to 2 years - some stray thoughts!


Time limit under amended Section 11A of CEA

Sir,
I thank the 'concerned' officer for inviting views from the readers. The concern of the officer with regard to time limit to issue notice under Section 11A of Central Excise Act seems to be unfounded due to following reasons. As on 22/2/2016, the only course of action left with him was to demand duty in normal period of one year in case of short payment of duty not involving suppression of facts etc which he did correctly. If it is a case of existence of elements necessary to invoke proviso to Section 11A to demand duty in extended period, nothing would have prevented him from doing so. It is incorrect to state that there are no Board Circulars clarifying the the time limit issues covered in the Finance Act 2016 by amending Section 11A of CEA by changing one year period to two years . Board had clarified vide Circular 555/51/2000-Cx1 dt 19.10.2000 that notices can be issued by going back to one year in 2000 when six months period was changed as one year in Section 11A. The present amendment in Section 11A is similar to the contents of the circular dated 19.10.2000 which has also referred to the Circular 540/36/2000-CX dt 8.8.2000. The Circular dated 8.8.2000 mentioned during the discussion was rescinded through Circular No. 606/43/2001-CX dt 4/12/2001. Discussion on time limit prescribed in amended Section 11A seems to be incomplete without citing the contents of circular dated 19.10.2000 cited above.

rrkothapally rrkothapally 25/06/2016

 

Back

TIOL Tube Latest

TIOL Tube
Dr. Shailendra Kumar, Chairman, TIOL Knowledge Foundation, addressing the gathering

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