Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: empanelment :: VAT Audit :: VAT RATES :: articles on VAT and GST in India :: TAX RATES - GOODS TAXABLE @ 4% :: cpt :: ACCOUNTING STANDARDS :: Central Excise rule to resale the machines to a new company :: due date for vat payment :: list of goods taxed at 4% :: ACCOUNTING STANDARD :: form 3cd :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ARTICLES ON INPUT TAX CREDIT IN VAT
 
 
« General »
 Tax breather for foreign investors: All you need to know
 What the increase in tax collections does not tell us about Indian economy post demonetisation
 India’s crazy retrospective tax on foreign funds will tarnish country’s reputation
 How tax related, PAN grievances can be resolved through E-Nivaran
 Tackling income tax exemptions for equities and agriculture
 Amfi wants tax benefits for retirement plans
 Top five factors which could chart market direction in the coming week
 Tax rate hikes boost shadow economy
 Tax mop-up may decline in new amnesty scheme
 Weeks before Budget, Finance Minister Arun Jaitley lists out benefit of low tax rates
 Second home loan tax benefits

Reliance Infra gets SC relief on dues to Tata Power
June, 03rd 2008

Reliance Infrastructure Ltd, the Anil Dhirubhai Ambani Group (ADAG) firm, on Monday received some relief when the Supreme Court directed Tata Power, which is yet to receive Rs 56 crore from Reliance towards energy charges, not to take any coercive step to recover the amount.

A vacation bench comprising justices C K Thakker and Lokeshwar Singh Panta issued notices to Tata Power and asked it to file its reply in ADAGs petition within a month.
Reliance has challenged the Appellate Tribunal for Electricitys order on May 12 holding that Tata Power was entitled to recover charges for energy supplied to Reliance at Rs 2.09 per unit. The balance outstanding dues on account of the difference between Rs 2.09 per kwh and Rs 1.77 per kwh and shortfall in minimum off-take of energy should be released to Tatas within four weeks along with delayed payment charges at the prevailing prime lending rate fixed by SBI for short borrowing and not at the rate of 24% per annum as directed by the MERC, the tribunal said.

The appellate tribunal had said that the issue relating to take or pay should be examined after the apex courts decision in another pending appeal relating to the similar issue, as to whether or not Tata was a distribution licensee and whether or not Reliances offer of rebate to its consumers to prevent them from moving away from it was tenable in law.

In a similar petition last year, the apex court  had directed Tatas to refund 50% of the Rs 451.35 crore to Reliance that it had paid as standby charges for electricity supply in Maharashtra and pay the rest as bank guarantee.

Earlier, Reliances counsel Abhishek Manu Singhvi argued that for entire Maharashtra, except Borivali, Reliance has been paying Rs 1.77 per unit, while in the case of Borivali, the rate fixed by Tatas is Rs 2.09 per unit.

Reliance said that it was supposed to pay at the rate of Rs 3.5 crore per month to Tata as standby energy charges and the remaining Rs 8 crore was to be paid in the form of difference of 32 paise per unit, which is paid for Borivali.

During the proceedings, Tatas counsel assured the court that it wouldnt take any coercive step against Reliance for the recovery of Rs 56 crore till the next date of hearing.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Multi-level Marketing MLM India Affiliate Marketing Affiliate Marketing Software MLM Software MLM Solutions Multi level marketing solutions MLM Servi

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions