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) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
News Headlines »
 PCIT vs. Perfect Circle India Pvt. Ltd (Bombay High Court)
 The National Company Law Tribunal (Amendment) Rules, 2019 notified
 Get income tax refund in one day from 2020
 Your ITR filing will soon get processed in just one day
 Here's how These new tax laws allow you to save more tax in FY2018-19
 Income tax exemption limit may be doubled to Rs 5 lakh in interim budget
 How to use home loan and rental outgo to save income tax
 Income Tax Department Income Tax Return Statistics Assessment Year 2017-18
 Section 80C limit: Should you use only life insurance to save taxes?
 Calculate your tax liability for assessment year 2019-20 here
 Here is how to maintain tax discipline in the last quarter of the fiscal

Supreme Court admits excise plea
June, 22nd 2009

The Supreme Court has admitted a couple of petitions filed by the excise department alleging that textile major Raymond Ltd had evaded excise duty of more than Rs 3.62 crore.    

The alleged excise evasion by Raymond relates to the period between June 1997 and June 1998, and July 1998 and December 1999.    

A bench headed by Justice S H Kapadia has admitted the appeals filed by the revenue challenging the sectoral tribunal's ruling that waived interest and penalty imposed by the department.    

The excise department, while holding Raymond guilty of misrepresentation, had issued showcause notice as to why the company should not pay duty of more than Rs 3.62 crore.    

The petition said that the deduction of 5.84 per cent sought for on account of post-removal expenses in the price list (commission to agents, bank charges and freight and insurance charges) had no relation with the discount claimed from the assessable value.    

According to the excise department, the Customs, Excise and Service Tax Appellate Tribunal was not justified in allowing the company's application for rectifying the mistake without considering the evidence on record.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2019 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Mission

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