Jurisprudentiol - Friday's cases

By Vijay Kumar

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

Application for Stay of operation of order of suspension of CHA licence - Distinction has to be made between stay applications usually filed in Tribunal for waiver of predeposit of duty and penalty and stay application against an order of suspension of CHA licence: CESTAT

THERE may be a case for interfering with the order of suspension only if there is undue delay in conduct of further investigation and further proceedings and when the delay not being attributable to the applicant. In the present case, no details are available on further proceedings and the reason for delay, if any.

Income Tax

Interest tax - Whether interest received by assessee on loans and advances made under Bills Rediscounting Scheme from different banks does not form part of chargeable interest - YES, rules Kolkata HC

ASSESSEE, a Public Financial Institution under Section 4A of the Companies Act, 1956, is mainly engaged in the business of insurance other than that of life insurance and also engaged in the investment activities like purchase and sale of shares, debentures, bonds, government securities etc. - it also provides various types of loans and advances to different companies as well as Credit Institutions under different schemes like term loans, loans under bill rediscounting scheme, loans by way of deposits as call money, loans against mortgage of property, loans to the State Governments for housing and fire fighting equipment etc.

Central Excise

Classification - edible grade coconut oil repacked in smaller sachets - not dutiable: CESTAT

THERE is clear indication that the goods are of edible grade coconut oil. It is also noted that the assessee has always represented to the market, the product as an edible grade coconut oil and not as a hair care oil. It is also to be noted that Revenue has not produced any contrary evidence that the products are not represented to market as edible grade coconut oil. Revenue did not refute the fact of marketing of the said product as edible grade coconut oil by adducing any contrary evidence.

See our columns Tomorrow for the judgements