Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Open DEMAT Account with in 24 Hrs and start investing now!
« Top Headlines »
Open DEMAT Account in 24 hrs
 New Income Tax Act: ITR forms to be issued prior to FY28, says govt
 GSTR-9C Explained: Turnover Limit, Due Date, Statement Format & How to Prepare It in Tally Prime (2025 Update)
 Will Income Tax Department release new ITR forms by January 2026? Finance Ministry says this
 The Government of India has strengthened MSME protection through strict payment rules, ensuring that Micro & Small Enterprises receive timely payments from buyers. Under the MSME Development Act (MSMED Act), 2006, buyers must make payments within:
 ITR Refund Delays in India: Why They Happen & How to FastTrack Your Refund in 2025
 ITR Refund Delay: From Bank Errors To Department Checks, 5 Big Reasons Your Refund Gets Stuck
 Income Tax Slabs 2025: New Vs Old Regime; Which One Is Better For You For FY2025-26?
 Seamless Integration: How Tally Prime Connects Businesses to the Digital Economy
 Govt to notify new ITR forms, Income Tax Act 2025 rules by January 2026: CBDT chief
 Digital Efficiency for MSMEs: The Tally Prime Advantage
 5 Ways Tally Prime Reduces Cost and Boosts Productivity for Startups

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 2026 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting