Cost Accounting by N.K. Prasad, Glossary of Management Accounting Terms by ICWAI. In CCE v. Dai Ichi Karkaria Ltd.

7 SCC 448Reported decision1999#16122 most cited
6

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2006 to 2020.

Judgments citing Cost Accounting by N.K. Prasad, Glossary of Management Accounting Terms by ICWAI. In CCE v. Dai Ichi Karkaria Ltd.

MARUTI SUZUKI INDIA LTD. (EARLIER KNOWN AS MARUTI UDYOG LTD.) vs. COMMISSIONER OF INCOME TAX DELHI

The appeals are dismissed

C.A. No.-011923-011923 - 2018Supreme Court07 Feb 2020

Bench: HON'BLE MR. JUSTICE ASHOK BHUSHAN

Section 260ASection 43B

…1 REPORTABLE IN THE SUPREME COURT OF INDIA CIVIL APPELLATE JURISDICTION CIVIL APPEAL NO.11923 OF 2018 MARUTI SUZUKI INDIA LTD. (EARLIER KNOWN AS MARUTI UDYOG LTD.) ...APPELLANT(S) VERSUS COMMISSIONER OF INCOME TAX, DELHI ...RESPONDENT(S) WITH CIVIL APPEAL NO.11924 OF 2018 J U D G M E N T ASHOK BHUSHAN,J. By these appeals the assessee has challenged the judgment of the High Court of Delhi dated 07.12.2017 deciding the Income Tax Appeal No.31 of 2005. ITA No.31 of 2005 related to Assessment year 1999­2000 and ITA No.442 of 2005 related to Assessment year 2000­2001, in b…

M/S MARUTI UDYOG LTD. vs. COMMISSIONER OF INCOME TAX DEL

ITA/31/2005HC Delhi07 Dec 2017

Bench: 31St March 2000, I.E. The End Of The Relevant Accounting Year, Even Though The Assessee Has Already Incurred Liability Of Excise Duty Of Rs.12.27 Crores?

Section 260ASection 43B

…ts to payment of excise duty as was emphasized by the Supreme Court in Eicher Motors Limited v. Union of India (1999) 2 SCC 361. He also relied upon the decision of the Supreme Court in Collector of Central Excise, Pune v. Dai Ichi Karkaria Limited (1999) 7 SCC 448. On the question of valuation of closing stock being inclusive of excise duty paid thereon, Mr. Ganesh submitted that this would make no difference to the liability of deduction of the excise duty paid under Section 43B of the Act. 29. Mr. Ganesh also relied upon the decision of the Supreme Court in Berger Paints India Limited v. Commission…

COMMISSIONER OF INCOME TAX DEL vs. M/S AHUJA RADIOS

The appeals are dismissed

ITA/1054/2006HC Delhi20 Oct 2008

Bench: HON'BLE MR. JUSTICE BADAR DURREZ AHMED,HON'BLE MR. JUSTICE RAJIV SHAKDHER

For Appellant: Mrs Prem Lata BansalFor Respondent: Mr B.B. Ahuja Sr Advocate with
Section 260ASection 80H

…n respect of his final product, his liability to pay excise duty to that extent stands discharged. In Eicher Motors Ltd v. Union of India: (1999) 2 ITA 337/07,1127/06,1054/06,289/07 Page No.7 of 8 SCC 361 and in CCE v. Dai Ichi Karkaria Ltd : (1999) 7 SCC 448 the Supreme Court observed that a credit under the MODVAT Scheme was “as good as tax paid.” In other words, an adjustment of modvat credit essentially entails the payment of excise duty. 7. We have already noted above that excise duty, in view of the Supreme Court decision in the case of Lakshmi Machine Works (supra), is not to be inclu…

COMMISSIONER OF INCOME TAX vs. M/S AHUJA RADIOS

The appeals are dismissed

ITA/1127/2006HC Delhi20 Oct 2008

Bench: HON'BLE MR. JUSTICE BADAR DURREZ AHMED,HON'BLE MR. JUSTICE RAJIV SHAKDHER

For Appellant: Mrs Prem Lata BansalFor Respondent: Mr B.B. Ahuja Sr Advocate with
Section 260ASection 80H

…n respect of his final product, his liability to pay excise duty to that extent stands discharged. In Eicher Motors Ltd v. Union of India: (1999) 2 ITA 337/07,1127/06,1054/06,289/07 Page No.7 of 8 SCC 361 and in CCE v. Dai Ichi Karkaria Ltd : (1999) 7 SCC 448 the Supreme Court observed that a credit under the MODVAT Scheme was “as good as tax paid.” In other words, an adjustment of modvat credit essentially entails the payment of excise duty. 7. We have already noted above that excise duty, in view of the Supreme Court decision in the case of Lakshmi Machine Works (supra), is not to be inclu…

COMMISSIONER OF INCOME TAX vs. AHUJA RADIOS

The appeals are dismissed

ITA/289/2007HC Delhi20 Oct 2008

Bench: HON'BLE MR. JUSTICE BADAR DURREZ AHMED,HON'BLE MR. JUSTICE RAJIV SHAKDHER

For Appellant: Mrs Prem Lata BansalFor Respondent: Mr B.B. Ahuja Sr Advocate with
Section 260ASection 80H

…n respect of his final product, his liability to pay excise duty to that extent stands discharged. In Eicher Motors Ltd v. Union of India: (1999) 2 ITA 337/07,1127/06,1054/06,289/07 Page No.7 of 8 SCC 361 and in CCE v. Dai Ichi Karkaria Ltd : (1999) 7 SCC 448 the Supreme Court observed that a credit under the MODVAT Scheme was “as good as tax paid.” In other words, an adjustment of modvat credit essentially entails the payment of excise duty. 7. We have already noted above that excise duty, in view of the Supreme Court decision in the case of Lakshmi Machine Works (supra), is not to be inclu…

COMMNR. OF CENTRAL EXCISE, PUNE vs. M/S. CADBURY INDIA LTD

C.A. No.-002947-002948 - 2001Supreme Court01 Aug 2006
For Respondent: M/s. Cadbury India Ltd

…the following authoritative texts: Wheldon’s Cost Accounting and Costing Methods, Cost Accounting methods by B K Bhar, Principles of Cost Accounting by N.K. Prasad, Glossary of Management Accounting Terms by ICWAI. In CCE v. Dai Ichi Karkaria Ltd., (1999) 7 SCC 448, at page 459 it has been held that the normal principles of accountancy shall be applied to determine the cost. In this decision this Court observed : http://JUDIS.NIC.IN SUPREME COURT OF INDIA Page 3 of 4 "Learned Counsel for the respondents drew our attention to the judgment of this Court in Challapalli Sugar Ltd. v. CIT. The Court wa…

Cost Accounting by N.K. Prasad, Glossary of Management Accounting Terms by ICWAI. In CCE v. Dai Ichi Karkaria Ltd. (7 SCC 448) — Cited in 6 Judgments | BharatTax