Jurisprudentiol – Friday's cases

By Vijay Kumar

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

The quantum of redemption fine is always dependent on determination of market price of goods confiscated. - Tribunal is required to give proper, valid and cogent reasons for passing orders with regard to quantum of redemption fine and penalty.: SC

THE quantum of redemption fine which could be imposed is always dependent on the determination of the market price of the goods confiscated. This is one of the pre-requisites prescribed in the statute itself.

There cannot be any universal rule of reducing the redemption fine and penalty to 20% and 5% and determination of quantum to be paid as redemption fine and penalty should be dependent on the facts and circumstances of each case.

Income Tax

Whether when assessee discloses all details necessary for claiming deduction on debatable issue while filing return of income, penalty is warranted - NO, says ITAT

MERE making of a claim by itself will not amount to furnishing of inaccurate particulars regarding the income of the assessee and such a claim made in the return of income cannot amount to concealment of income or furnishing of inaccurate particulars of income unless it is found that any details supplied by the assessee in this return were found to be incorrect or erroneous or false.

Central Excise

ROM - CESTAT exceeded its powers and tried to re-appreciate evidence and it reconsidered its legal view taken earlier - SC in pursuance of a rectification application - Rectified order quashed: SC

THERE was no mistake apparent on record when the CESTAT did not accept a submission of the respondent-assessee to the effect that the officer appointed to value the goods manufactured by asessee should not have been engaged as a cost accountant. CESTAT exceeded its powers and it tried to re-appreciate the evidence and it reconsidered its legal view taken earlier in pursuance of a rectification application. The CESTAT could not have done so while exercising its powers under Section 35C(2) of the Act .

See our columns Tomorrow for the judgements