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: VAT Audit :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: cpt :: ARTICLES ON INPUT TAX CREDIT IN VAT :: form 3cd :: ACCOUNTING STANDARD :: ACCOUNTING STANDARDS :: list of goods taxed at 4% :: empanelment :: TDS :: VAT RATES :: TAX RATES - GOODS TAXABLE @ 4% :: articles on VAT and GST in India :: Central Excise rule to resale the machines to a new company :: due date for vat payment
 
 
News Headlines »
 Provisional Enrollment under Goods and Service Tax (GST)
 Ten income tax changes that will come in to effect from April 1
 New income tax provisions you need to be aware of
 8 benefits you must know about this tax-saving mutual fund
 10 most important income-tax changes which will apply from April 1
 Delhi: 54 CAs, company secretaries on radar in I-T crackdown against black money
 10 Income Tax Rules That Will Change From April. See Details Herea
 Looking for last-minute tax planning with Section 80C investments? Here's help
 Aadhaar mandatory for filing income tax return
 Will Aadhaar linkage solve India's income tax woes?
 GST roll out from July 1 will make goods cheaper: Jaitley

Carrier Aircon wins excise case
July, 10th 2006
The Supreme Court last week dismissed an appeal of the Commissioner of Central Excise, Delhi, and upheld the contention of Carrier Aircon Ltd that the chillers it manufactured for central air-conditioning systems were entitled to a lower duty. 
 
The revenue authorities contended that chillers are integral to the air conditioning systems used in big hotels, airports or hospitals. On the other hand, the company argued that the primary function of the chiller is to produce chilled water/liquid. 
 
The excise appellate tribunal accepted the manufacturer's contention. The Supreme Court upheld that view and explained that air-conditioning system was just one among various industrial applications in relation to which chillers are used. 
 
Further, it said that the end use to which a product is put to, by itself, could not be determinative of the classification of the product. 
 
Mumbai firms to vacate premises 
 
The Supreme Court last week dismissed a large number of appeals by Mumbai firms challenging the provisions of the Public Premises (Eviction of Unauthorised Occupants) Act. 
 
The Bombay High Court had already dismissed the petitions moved by Crawford Bayley & Co, Nusli Wadia and others occupying prime property in the metropolis. 
 
Their appeals to the Supreme Court were dismissed following the earlier rulings of the apex court on tenancy of public premises. The court asked the estate officer to proceed with these matters speedily. 
 
Subsidies for prestigious units 
 
The Supreme Court has held that Jai Beverages Pvt Ltd was entitled to all the incentives and subsidies applicable to prestigious units under the industrial policy announced by the Jammu and Kashmir government in 1998. 
 
The government had offered a package of incentives to industrial units, especially those which invested Rs 25 crore or more. The incentives included exemption from payment of general sales tax and central sales tax. 
 
This company manufactured soft drinks and was declared a prestigious unit. However, when it claimed the benefits under the package, the government denied them. The high court dismissed its petition and upheld the government's view. 
 
The company moved SC, which overruled the high court and emphasised that the company had fulfilled the conditions for the exemption. The state cannot be permitted to ignore its own conscious decision to permit it to invest Rs 25 crore by the deadline, the court said.
 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 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