Jurisprudentiol – Monday's cases
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Effective Date of Adjudication Order is the Date of Dispatch of the order: High Court
THE common question in these writ petitions is whether the “case” of the petitioners had been “adjudicated” prior to the filing of their settlement applications under Section 32E of the said Act. Normally, such a question would appear to require a straightforward determination of the factual position. However, in these writ petitions, it so happens that the order-in-original passed by the adjudicating authority was dated 24.12.2009 though it was received by the petitioners after 08.01.2010, which was the date on which the petitioners had filed their settlement applications under Section 32E of the said Act.
Income Tax
Income Tax - Sec 80HHC - insurance claim received on destruction of stock-in-trade is eligible to included in 'business profit' for purpose of exports benefits: Bombay HC
SECTION 80HHC has been one of the most disputed incentivising Sections of the I-T Act. It has undergone amendments so many times that each amendment claimed its own pound of litigation-flesh. In the latest case the issue before the High Court was - Whether insurance claim received by the assessee on destruction of stock in trade was eligible to be included in “business profit” for the purpose of deduction u/s 80HHC, despite the jurisdictional HC decision in the case of Dresser Rand India Ltd ( ) and the Apex Court ruling in the case of K.Ravindarnathan Nair ( ). And the answer is YES.
Service Tax
Service Tax - Notifications are not assessee specific - Each and every service of commercial or industrial construction provided by the assessee has to be examined for the purpose of extending the facility in terms of Notification No.15/2004-ST, 01/2006-ST – Stay granted: CESTAT
THE appellant seeks waiver of pre-deposit and stay of recovery in respect of service tax amounting to over Rs.26.8 crores demanded for the period October 2005 to March 2008 and also in respect of various amounts of penalties imposed under various provisions of the Finance Act, 1994.The appellant had undertaken different commercial and industrial construction projects at various parts of the country. In respect of certain projects, they paid service tax on the gross amount of taxable value without claiming any abatement but availing CENVAT credit on inputs through out the period or on input service up to 1.3.2006.
Until Monday with more DDT
Have a nice weekend.
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