Jurisprudentiol – Tuesday's cases

By Vijay Kumar

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

Modvat Credit - Capital Goods - Crane, Loader, Rebar Coils, CTD Bars, Cement and TOR Steel used for construction are capital Goods: HC

AS far as the Crane with accessories and Loader are concerned, there cannot be any difficulty in holding that they will come within the items of machinery or equipment used for production or processing of any goods for the manufacture of final products. As far as the other items, namely, Rebar Coils, CTD Bars, TOR Steel and Cement are concerned, as to whether they are capital goods or not, the Tribunal having regard to the law laid down by the Apex Court in Jawahar Mills's case, has liberally construed the above Rule and factually found that these are the items, which are used for the purpose of construction of the plant comprising of concrete foundations, concrete silos for storing raw materials, clinker and cement, pre-heater tower structure, load centres etc.

Income Tax

Whether when partner of assessee-firm fails to raise issue of not signing revised return and assessee pays up penalty imposed, such acts impliedly amount to admission for purpose of prosecution - YES, rules SC

THE issues before the Apex Court are - Whether, for the purpose of prosecution, it is statutorily required of the partner of the assessee-firm to sign the revised return showing higher income and leading to imposition of penalty and Whether when the partner fails to raise the issue of not signing the revised return and the assessee-firm pays up the penalty imposed, such acts impliedly amount to admission for the purpose of prosecution. And the verdict goes in favour of the Revenue.

Customs

Anti Dumping Duty on tyres - Notification No. 12/2010-Cus, set aside: CESTAT

A number of parameters such as capacity, production, capacity utilization, sales, selling prices and profitability of return on investment, wages, employment, productivity etc. recorded an improvement during the periods chosen for injury analysis. In the absence of injury to the domestic industry, the anti-dumping duty merely increases the prices of the imported goods for the domestic consumer and also provides a cushion to the domestic industry to increase their prices. The ultimate sufferer is the domestic consumer and imposition of anti-dumping duty in such a scenario cannot also be considered to be in the public interest.

See our columns Tomorrow for the judgements