Jurisprudentiol– Monday's cases

By Vijay Kumar

Legal Corner Icon — the image was hosted by the publisher and was not captured.Central Excise

Assessable Value - Refund cannot be rejected merely because adjustments made through Credit or Debit Notes : Rajasthan HC

THIS is a landmark judgement. There is a strange logic reigning in the field that refund cannot be granted if the assessee had returned money to the customer by Credit Notes. God knows what difference it makes if the payment is made by cash, cheque or Credit note.

Now the Rajasthan High Court has clearly explained the position.

Income Tax

Sales tax and excise duty excluded from total turnover for purpose of computation of deduction under section 80HHC : ITAT

BOTH the parties agreed that the issue is covered in favour of the assessee by the decision of the Supreme Court in the case of CIT Vs. Lakshmi Machine Works, (2007-TIOL-72-SC-IT) Since the decision of the CIT(A) is in accord with the decision of the Supreme Court referred to above, no merit in this ground of appeal raised by the Revenue.

Customs

SEZ - Imported goods - short receipt in SEZ - shortage within tolerable limits and goods not easily removable: demand of duty not sustainable: CESTAT

THE variation in the present consignment is within the same tolerance limit. The entire operation was monitored by the surveyor and no discrepancy was found by him. As such, there is no reason to hold that the goods were less received by the appellant holding it liable to pay the duty especially when there is no dispute about the number of bundles received by the appellant and keeping in view the nature of the goods being solid bars, making it impractical for the assessee to remove a part of the same.

See our columns Monday for the judgements