From our Legal Corner - tomorrow's cases

By Vijay Kumar

Income Tax

Raghav Bahl case - Income or transactions not disclosed on or before date of search - would not have been disclosed but for the search - to be treated as undisclosed income : ITAT

IT all started with search and seizure operation conducted at the premises of Friends Portfolio. In the course of the search, statements of Shri Manoj Agarwal and other persons were recorded and thereafter assessment was completed in their cases. It was found that all the transactions undertaken by Shri Manoj Agarwal through Friends Portfolio and his other concerns were bogus transactions, in the nature of merely providing entries without any real physical transactions relatable to those entries.

Customs

As per Regulation 8 of CHALR, 2004, examinations are to be conducted twice a year which means to say four exams in two years - Appellant to be given two more chances to clear the exam for continuing with CHA licence : Tribunal

After the death of the proprietor, his legal heir was granted permission to work as a Customs House Agent, in terms of Regulation 16(2) of the Regulations subject to her passing the examination referred to in Regulation 8 of the CHALR, 2004 within two years i.e by 10/03/2006. An examination was held on 29.9.2005, in which she was declared failed. She re-appeared for the written examination held on 7/8/2006 when again she was shown as failed. This is what transpired before the Commissioner of Customs (General), Mumbai declared the CHA licence inoperative with immediate effect vide order dated 15.12.2006.

Central Excise

Excise valuation in 1991 - discount allowed even if a small part of sale did not have same discount as majority of sales; Abatement from retail price has to be allowed for calculating AV - when factory gate price is ascertainable, depot price cannot be taken as value : Supreme Court

THE short point which arises for determination in these civil appeals filed by the assessee is - Whether the assessee was entitled to 20% trade discount.

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See our columns tomorrow for the judgements