M/S. STEEL AUTHORITY OF INDIA LTD. (UNIT BHILAI STEEL PLANT) ISPAT BHAWAN . THROUGH ITS SR. MANAGER (F AND A) vs. COMMISSIONER OF CENTRAL EXCISE RAIPUR

Bench: Us. 2. Very Briefly Put, The Question Which We Are Called Upon To Consider & Resolve Is As To Whether Interest Is Payable On The Differential Excise Duty With Retrospective Effect That Become Payable On The Basis Of Escalation Clause Under Section 11Ab Of The Central Excise Act, 1944 (Hereinafter Referred To As “The Act”). 3. In This Batch Of Appeals, We Will Treat C.A. No.2150/2012 As The Leading Case. We Will Refer To The Said Case As The Sail Case. In The Said Case Originally, The Appellant Company Which Is Manufacturer Of Various Products Including Rail

transfer of possession. However we 17 need not say anything further as it is not necessary for the cases at hand. Section 3 is the charging section. With effect from 1.7.2000 under the Finance Act of 2000, Section 4 of the Act which is crucial for our case reads as follows: “4. Valuation of excisable goods for purpose of charging

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

24 of 29 regard to the “nature of transaction or class of transaction or class of associated persons or functions performed by such persons or such other relevant factors as the board may prescribe, namely (a) comparable uncontrolled price method, (b) resale price method, (c) cost + method, (d) profit split method, (e) transactional net margin method, (f) any such other

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

M/S.SK.AR.K.AR.SOMASUNDARAM CHETTIAR&CO. vs. COMMISSIONER OF INCOME TAX, MADRAS

transfer of the commodity or scrips. Provided that for the purposes of this Section : (a) a contract in respect of raw materials or merchandise entered into by a person in the course of his manufacturing or merchanting business to guard against loss through future price fluctuations in respect of his contracts for actual delivery of goods manufactured

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, then for the purpose of deduction under Section 80-IA, the profits and gains of such eligible business shall be computed by adopting arm’s length pricing. In other words, if the assessing officer rejects the price as not corresponding to the market value of such good, then he has to compute the sale price of the good

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

Appeals are dismissed

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

transferred before and (ii) if they are purchased at their cost price or face value. 22. At this stage, we may refer to a decision of this Court in the   case   of  Commissioner   of   Income   Tax   (Central), Calcutta v. Associated Industrial Development Company (P) Ltd., Calcutta10.   In the said decision, this Court held that   whether   a   particular   holding   of   shares

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

Bench: HON'BLE MR. JUSTICE ROHINTON FALI NARIMAN

Sections 44-BB, 44-BBA, etc.). 36. Under the impugned ruling delivered by AAR, remuneration to MSAS was justified by a transfer pricing analysis and, therefore, no further income could be attributed to the PE (MSAS). In other words, the said ruling equates an arm’s length analysis (ALA) with attribution of profits. It holds that once a transfer pricing

VATSALA SHENOY vs. JT.COMMISSIONER OF INCOME TAX

24 17. Section 45(1) of the 1961 Act speaks about capital gains arising out of “transfer” of a capital asset. The definition of the expression “transfer” is contained in Section 2(47) of the 1961 Act. It has very wide meaning. What is taxable under Section 45(1) of the 1961 Act is “profits and gains arising from

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

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

Appeals are dismissed but in

24 of the Customs Act, 1962 were issued asking the appellants as to why (a) the sum remitted or declared during http://JUDIS.NIC.IN SUPREME COURT OF INDIA Page 3 of 28 investigation as consideration for drawings, designs and plans supplied by their collaborators should not be taken as transaction value under Section 14 of the Customs Act read with

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

Appeal is disposed of accordingly

24 Page 25 JUDGMENT without deduction of the cash discount) if the payment is not made in cash. In such cases, the cash discount, if allowed, will be admissible on the principle that only the net price obtained after deduction of the cash discount is the price of the goods.” “Illustrations. (iv) Assessee A sells the goods

WIPRO LTD. vs. ASST. COLLECTOR OF CUSTOMS

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

24 of 37 Page 25 JUDGMENT be subject to the provisions of sub-section (1), the underline principle whereof, as stated above, is to taken into consideration actual price of the goods unless it is impermissible because of certain circumstances stipulated therein. Keeping in mind this fundamental aspect, we have to examine the scheme of the Valuation Rules

M/S D. N. SINGH THROUGH PARTNER DUDHESHWAR NATH SINGH vs. COMMISSIONER OF INCOME TAX

Bench: HON'BLE MR. JUSTICE K.M. JOSEPH

Section 406 makes it abundantly clear that any such act by a carrier attracts the offence under Section 406. The Court in other words would have to allow the commission of an offence by the appellant in the process of finding that 71 the appellant is the owner of the goods. In other words, proceeding on the basis that there

LIPI BOILERS LTD. THROUGH ITS CHIEF EXECUTIVE vs. THE COMMISSIONER OF CENTRAL EXCISE, AURANGABAD

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

24 of 57 maximum price, as the case may be, so fixed, shall, in relation to the goods so sold, be deemed to be the normal price thereof; (iii) where the assessee so arranges that the goods are generally not sold by him in the course of wholesale trade except to or through a related person, the normal price

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

price of goods and shown separately in the invoices for such goods. Interestingly, despite the substituted Section 4 not providing for a depot or other premises as a place of removal, Rule 7 deals with the normal transaction value of goods transferred to a depot or other premises which is said to be at or about the same time

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

Bench: HON'BLE THE CHIEF JUSTICE

24,14,05,257, and resulted in a shortfall in payment of Rs. 3,15,13,343 in excise duty. Further, due to the purported suppression of the differential in the prices at which the goods were being sold, the extended period of limitation of 5 years was invoked under the Proviso to Section 11A(1) & (4) of the CEA.5