Jurisprudentiol – Monday's cases

By Vijay Kumar

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

Payment of duty by TR-6 challan and not by Internet banking - Violation of procedural rule cannot be condoned: CESTAT

VIOLATION of procedural rule cannot be condoned because if such argument is accepted all procedural rules will become meaningless and Government will not be able to frame any procedure, which may be necessary in public interest .

Income Tax

Whether when all rights in property are relinquished, and possession is also handed over to buyer, it can be said that transfer has taken place, and hence gains attributable to such transfer are taxable in that year - YES: ITAT

ASSESSEE acquired certain immovable property in Navi Mumbai by virtue of a lease agreement dated 20/9/2000. In October 2002 Assessee entered into an agreement (namely MOU) with some developer for development of the property and as per the terms of the MOU the developer deposited the agreed consideration in Escrow A/C as directed by the assessee. In November 2002, assessee entered into a tri-partite agreement with some society for transfer of his rights in favour of the society.

Customs

No requirement to pre-deposit amount of redemption fine while filing appeal: CESTAT

AS per the provisions of section 129E, any person desirous of appealing against the decision or order, shall pending the appeal, deposit with the proper officer duty and interest demanded or the penalty levied. In view of the provisions of Section 129E of the Customs Act, there is no requirement to pre-deposit the amount of redemption fine for filing appeal before the Tribunal.

See our columns Monday for the judgements