COMMNR. OF CENTRAL EXCISE, HYDERABAD vs. M/S. DETERGENTS INDIA LTD

Bench: Cegat Was Also Dismissed By The Impugned Judgment Dated 22.4.2003. 2

transferred from one company to another; depots of Shaw Wallace and DIL were in the same premises; DIL sends monthly newsletters to Shaw Wallace showing production, despatches, purpose, technical problems, quality problems, details of power consumption etc. - and Shaw Wallace fixes the price of DIL products; and unsecured loans of approximately Rs.55 lakhs were given by Shaw Wallace

SAP LABS INDIA PRIVATE LIMITED vs. INCOME TAX OFFICER CIRCLE 6 (1) (1) BANGALORE

Appeals are allowed

Bench: HON'BLE MR. JUSTICE M.R. SHAH

transfer pricing, determination of the arm’s length price by the Tribunal shall be final and cannot be subject matter of scrutiny and the High Court is precluded from examining the correctness of the determination of the arm’s length price by the Tribunal in an appeal under Section 260A of the IT Act on the ground that it cannot

PRINCIPAL COMMISSIONER INCOME TAX 4 BENGALURU 2 vs. M/S JUPITER CAPITAL PRIVATE LIMITED

Bench: HON'BLE MR. JUSTICE J.B. PARDIWALA

price for the redemption of the shares out of its fund to the assessee and the transaction was clearly a purchase. As rightly observed by the Tribunal, if the company had purchased a valuable right, the assessee had sold a valuable right. ‘Relinquishment’ and ‘extinguishment’ which are not in the normal concept of transfer but are included in the definition

RAJ PAL SINGH vs. COMMISSIONER OF INCOME TAX HARYANA

In the result, this appeal fails and is, therefore, dismissed

Bench: HON'BLE MR. JUSTICE DINESH MAHESHWARI

price of the land fixed by the Collector to the land owners. From the copy of the jamabandi attached with this file, khasra Nos. 361 and 364 measuring 5 kanals and 7 marlas were not on the lease with the college. But the Management is claiming compensation for this land also. In these circumstances, the college management cannot be awarded

COMMR.OF CUSTOMS (IMPORT) MUMBAI vs. M/S GANPATI OVERSEAS THR. ITS PROPRIETOR SHRI YASHPAL SHARMA

Bench: HON'BLE MRS. JUSTICE B.V. NAGARATHNA

transfer of the differential amount. Therefore, the adjudicating authority opined that he had no reason to accept the plea of the respondents that the statements of Mr. Yashpal Sharma and Mr. Suresh Chandra Sharma were not voluntary and should not be relied upon. This plea was taken only as an afterthought. 14 6.3. Contention of the respondents that the declared

COMMISSIONER OF INCOME TAX vs. M/S JINDAL STEEL THROUGH ITS MANAGING DIRECTOR

Appeals are hereby dismissed

Bench: HON'BLE MRS. JUSTICE B.V. NAGARATHNA

transfer of goods and services at the price such goods would ordinarily fetch on sale in the open market. 15 11.9. Thereafter, respondent assessee has referred to the meaning of the expression “market price” and also various case laws on such meaning. Assessee has contended that in order to determine the market price of any goods or services, open market

COMMISSIONER OF CUSTOMS AND C.E.NAGPUR vs. M/S. ISPAT INDUSTRIES LTD

19. A cursory reading of the substituted provision makes it clear that the concept of “normal value” has given way to the concept of “transaction value”. Thus, no longer is there a normative price for purposes of valuation of excisable goods. The actual price that is paid or payable on each removal of goods becomes the transaction value. Interestingly

ASSTT DIRECTOR OF INCOME TAX I NEW DELHI vs. M/S E FUNDS IT SOLUTION INC

Bench: HON'BLE MR. JUSTICE ROHINTON FALI NARIMAN

Transfer Pricing Officer by his order dated 22nd February, 2006, has specifically held that whatever is paid under various agreements between the US companies and the Indian company are on arm’s length pricing and that, this being the case, even if a fixed place PE is found, 15 once arm’s length price is paid, the US companies

ENGINEERING ANALYSIS CENTRE OF EXCELLENCE PRIVATE LIMITED vs. THE COMMISSIONER OF INCOME TAX

Bench: HON'BLE MR. JUSTICE ROHINTON FALI NARIMAN

transfer to the copy/copies any copyright or other marking on the Software or Documentation. d) not use the Software or Documentation for any other purpose than permitted in this Article 20, License or sell or in any manner alienate or part with its possession. e) not use or transfer the Software and/or the Documentation outside India without the written consent

COMMNR. OF CUSTOMS vs. M/S. FERODO INDIA PVT. LTD

Section 14(1) of the 1962 Act and on the basis of data available in India. To the great extent possible, this method is based on previously determined values and methods with a reasonable degree of flexibility in their application. Basis of CVR, 1988 12. Article 7 of GATT, 1994 is the foundation of the CVR, 1988. The said Article

COMMNR.,CUSTOMS & CENT.EXCISE AURANGABAD vs. M/S. ROOFIT INDUSTRIES LTD

Appeal is allowed restoring the order passed by the Adjudicating

Price of the goods was inclusive of cost of material, central excise duty, loading, transportation, transit risk and unloading charges etc. Even transit damage/breakage on the assessee account which would clearly imply that till the goods reach the destination, ownership in the goods remain with the supplier namely the assessee. As per the 'terms of payment' clause contained

SHABINA ABRAHAM vs. COLLECTOR OF CENTRAL EXCISE & CUSTOMS

price is the sole consideration for the sale:” (4) For the purposes of this section, - (a) “assessee” means the person who is liable to pay the duty of excise under this Act and includes his agent;” 11. Recovery of sums due to Government. - In respect of duty and any other sums of any kind payable to the Central Government under

THE BANK OF RAJASTHAN LTD. vs. COMMISSIONER OF INCOME TAX

Appeals are dismissed

Bench: HON'BLE MR. JUSTICE ABHAY S. OKA

19. As   stated   earlier,   Banks   are   required   to   purchase Government securities to maintain the SLR.   As per RBI’s guideline dated 16th October 2000, there are three categories of securities: HTM, AFS and HFT.  As far as AFS and HFT are concerned, there is no difficulty. When these two categories of securities   are   purchased,   obviously,   the   same   are   not investments

M/S. PUROLATOR INDIA LTD. vs. COMMNR. OF CENTRAL EXCISE, DELHI-III

Appeal is disposed of accordingly

transfers, the appellant filed declarations under Rule 173C with the excise department. In these declarations, the appellant claimed deduction towards Sales Tax, Cash Discount and Volume Discount on excise duty payable to arrive at the assessable value under Section 4 of the Central Excise and Salt Act, 1944. 3. Apart from undertaking manufacturing activities, the appellant at times also receives

VATSALA SHENOY vs. JT.COMMISSIONER OF INCOME TAX

19% of less Cost of acquisition (see Table 3) 13.843% of Rs.1,53,45,025 Rs.12,73,55,600 Rs.2,41,97,564 Indexed Cost 21,24,212 x 259 100 55,01,710 Rs.1,86,95,854 TOTAL LONG TERM CAPITAL GAINS (A1+A2) Rs. 11,62,50,244 III Short-term Capital gain on transfer of movable (depreciable

COMMISSIONER OF CENTAL EXCISE AND SERVICE TAX ROHTAK vs. M/S. MERINO PANEL PRODUCT LTD

Bench: HON'BLE THE CHIEF JUSTICE

transfer of goods solely to related parties; iv) The show cause notice by the Revenue sought to assess the value of the goods by relying on Rule 11 of the CEVR, read with Rule 4 and Section 4(1)(a) of the CEA. This was contrary to the CBEC Circular and rendered the notice defective and unenforceable; v) Consequently

WIPRO LTD. vs. ASST. COLLECTOR OF CUSTOMS

The appeals are allowed in the aforesaid terms with no order as to

19 of 37 Page 20 JUDGMENT not concerned with this amended provision, we are taking note of the same in order to examine as to whether any change, in principle, is brought about or not. The amended provision reads as follows: “14. Valuation of goods.- (1) For the purposes of the the Customs Tariff

M/S. ASSOCIATED CEMENT COMPANIES LTD. vs. COMNR. OF CUSTOMS

Appeals are dismissed but in

price. The concept that it is only chattel sold as chattel, which can be regarded as goods has no role to play in the present statutory scheme as we have already observed that the words goods as defined under the Customs Act has an inclusive definition taking within its ambit an immovable property. The list of goods as prescribed