TIOL-DDT 821 · the untouched capture
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<p><font size="3"><strong><font color="#663399" face="Verdana, Arial, Helvetica, sans-serif">TIOL-DDT 821 </font></strong><font face="Verdana, Arial, Helvetica, sans-serif"><strong></strong></font></font><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><br>
10.03.2008 <br>
Monday </strong></font></p>
<p align="center"><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Export of rice – DGFT amends export schedule. </strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">DGFT has further amended the No. 38 ( RE -2007)/2004-2009, dated 15.10.2007 by which </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1. Basmati Rice can be exported to Russian Federation only if the minimum FOB price is US $ 900 per ton or Rs. 36 ,000 /- per ton. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">2. Export of Basmati and non- basmati rice will be restricted through the following ports: ( i ) Kandla (ii) Kakinada, (iii) Kolkata, (iv) JNPT , Mumbai . </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">3. Only the quantities being loaded in the ships at the time of ban will be allowed to be exported under the transitional arrangements. Other than this, ‘transitional arrangements' envisaged under Para 1.5 of the Foreign Trade Policy, 2004-2009, as amended from time to time, shall not be applicable for the restrictions imposed vide this notification. </font></p>
<p><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=45&filename=notification/dgft/2007/dgft07not082.htm" target="_blank">DGFT NOTIFICATION NO. 82 (RE-2007)/2004-2009, Dated: March 5, 2008 </a></font><font size="2" face="Verdana, Arial, Helvetica, sans-serif"></font></p>
<p align="center"><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Duty Free Credit Entitlement for Status Holders – DGFT amends 2003 HOP </strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">DGFT has amended the 2003 Handbook of Procedures (Vol. I), para 3.2.5 to which is added, “Further in order to enable supporting manufacturers, whose names appear in the shipping bills, to import directly, Licensing Authority concerned shall endorse the names of such supporting manufacturers on the certificate as co-licensees.” </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Consequently listed supporting manufacturers shall be ‘co-licensees' for DFCE for Status Holders Scheme 2003-04 issued under Para 3.7.2.1 (vi) of the Export and Import Policy ( RE2003 ) and duty credit scrips which have been already issued under the scheme shall be deemed to be amended to this extent. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=47&filename=notification/dgft/2007/dgft07pn122.htm" target="_blank">DGFT PN NO. 122 (RE-2008)/2004-2009, Dated: March 5, 2008 </a></font></p>
<p align="center"><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>CBEC appoints adjudication officers for specific DRI cases. </strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The CBEC has notified Adjudicating Authorities for specific DRI cases. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><a href="http://www.taxindiaonline.com/RC2/inside2.php3?filename=wnew/cnt.htm" target="_blank">CBEC Notification NOs. 13 to 24 Cus NT ( RE-2008)/2004-2009, Dated: March 4, 2008 </a></font></p>
<p align="center"><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>CBI arrests four persons including a defence middleman and a senior Income Tax officer for bribery </strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">CBI arrested a known defence middleman, his son, their Chartered Accountant and a Deputy Director of Income Tax (Investigation) after registering a Regular Case against them and other unknown persons for hatching a conspiracy to favour the defence middleman and his son in an investigation conducted by the accused Deputy Director. After registering the case, CBI raided a famous hotel in Mumbai and caught all the four persons who had assembled there for discussion and negotiation as part of the conspiracy. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The Directorate of Income Tax (Investigation) had conducted raids during 2007 at the premises of the defence middleman in which several incriminating materials pertaining to the involvement of his (defence middleman's) and his associates in different defence deals were recovered. The accused Deputy Director (Investigation) was handling the investigation of that case. As part of the conspiracy, it is alleged, he obtained huge amount of bribe from the accused defence middleman and his son in order to favour them in the investigation report prepared by him in connection with the Income tax case. The deal was struck through the Chartered Accountant. As part of the deal, after receiving huge money, the official deliberately withheld/suppressed the incriminating material in his possession in the investigation report prepared by him in order to save the defence middleman and his associates from any impending prosecution by the Central Bureau of Investigation and other agencies. The officer also showed the draft investigation report which he had prepared to the Chartered Accountant and made changes as demanded by the defence middleman. <br>
<br>
As part of the conspiracy, the middleman, his son and their Chartered Accountant met the accused Income tax official at a room in the hotel for further negotiations on the remaining bribe amount. The CBI team raided the hotel and caught all the four while their meeting was on. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Searches are continuing at different premises of the four accused persons in New Delhi, Ghaziabad, Mumbai and Goa. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The <em>Dramatis personae </em> are Arms dealer Suresh Nanda , his son Sanjeev Nanda who is also an accused in the BMW hit-and-run case, chartered accountant Bipin Shah and Deputy Director of Income Tax Ashutosh Verma, an IRS officer of the 1999 batch. </font></p>
<p align="center"><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Disciplinary action against retired PSU officers – CVC instructions. </strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The Central Vigilance Commission has been seriously concerned that as Public Sector Undertakings ( PSUs ) are non-pensionable establishments, there is no possibility of imposing any penalty on such deviant employees after their retirement, who might have committed serious lapses while in service, just before their retirement. The gratuity amount also could not be withheld unless the person had been terminated consequent to disciplinary proceedings and the question of terminating an employee or imposing a penalty retrospectively, after retirement is not legally tenable. There was a situation that even disciplinary proceedings could not be continued against them beyond the retirement. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The Commission had earlier advised Public Sector Enterprises to make a provision in their CDA (Conduct, Discipline and Appeal) Rules to allow continuation of departmental proceedings after retirement of an employee. There is a need to incorporate a suitable provision to enable the imposition of penalty on delinquent employees on conclusion of such departmental proceedings continued beyond the date of their superannuation. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The Public Sector Banks have incorporated a provision in their CDA Rules for deemed continuation of service for this purpose. The said provision reads as under: </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">"The officer against whom disciplinary proceedings have been initiated will cease to be in service on the date of superannuation but the disciplinary proceedings will continue as if he was in service until the proceedings are concluded and final order is passed in respect thereof. The concerned officer will not receive any pay and/or allowance after the date of superannuation. He will also not be entitled for the payment of retirement benefits till the proceedings are completed and final order is passed thereon except his own contribution to CPF ." </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The Supreme Court of India has recently upheld the punishment of dismissal on a retired Bank employee on conclusion of departmental proceedings after his retirement, on the basis of the above provision, thus validating its legality. In its judgment dated 18.5.2007 in the case of Shri Ramesh Chandra Sharma Vs. Punjab National Bank, it has further noted that - </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">".... it may be true that the question of imposition of dismissal of the delinquent officer from service when he has already reached the age of superannuation would not ordinarily arise. However, as the consequences of such an order are provided for in the service rule, in our opinion, it would not be correct to contend that imposition of such a punishment would be wholly impermissible in law." </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The Supreme Court has further held that - </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">" The said Regulation clearly envisages continuation of a disciplinary proceeding despite the officer ceasing to be in service on the date of superannuation. For the said purpose a legal fiction has been created providing that the delinquent officer would be deemed to be in service until the proceedings are concluded and final order is passed thereon. The said Regulation being statutory in nature should be given full effect." </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">"The effect of a legal fiction is well-known. When a legal fiction is created under a statute, it must be given its full effect, as has been observed in East End Dwellings Co. Ltd. v. Finsbury Borough Council 1951 (2) AII E.R.587 as under...." </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">As the legality of the above provision has been upheld by the Supreme Court, all Public Sector Undertakings are advised to amend their CDA Rules in order to incorporate a similar provision. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The CVC wants the receipt of this circular to be acknowledged and action taken to amend the CDA Rules along with a copy of the amended rules, to be sent to the Commission by 20.01.2008. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><a href="http://www.taxindiaonline.com/RC2/inside2.php3?filename=wnew/cvccir39.htm" target="_blank">CVC Circular No. 44/12/2007, Dated: December 28, 2007 </a></font></p>
<p align="center"><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Acceptance of Bank Guarantees– CVC instructions. </strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">A number of instances have come to the notice of the Central Vigilance Commission where forged / take bank guarantees have been submitted by the contractors/ suppliers. Organizations concerned have also not made any effective attempt to verify the genuineness / authenticity of these bank guarantees at the time of submission. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">In this background, all organizations are advised to streamline the system of acceptance of bank guarantees from contractors/suppliers to eliminate the possibility of acceptance of any forged/fake bank guarantees. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The guidelines on this subject issued by Canara Bank provides for an elaborate procedure, which may be found helpful for the organizations in eliminating the possibility of acceptance of forged/fake bank guarantees. The guidelines issued by Canara Bank provides that – </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">"The original guarantee should be sent to the beneficiary directly under Registered post (A.D.). However, in exceptional cases, where the guarantee is handed over to the customer for any genuine reasons, the branch should immediately send by Registered Post (A.D.) an unstamped duplicate copy of the guarantee directly to the beneficiary with a covering letter requesting them to compare with the original received from their customer and confirm that it is in order. The A.D. card should be kept with the loan papers of the relevant guarantee. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">At times, branches may receive letters from beneficiaries, viz., Central/State Governments, public sector undertakings, requiring bank's confirmation for having issued the guarantee. Branches must send the confirmation letter to the concerned authorities promptly without fail." </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Therefore, CVC advises all organizations to evolve the procedure for acceptance of BGs, which is compatible with the guidelines of Banks/Reserve Bank of India . The steps to be ensured should include - </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">i) Copy of proper prescribed format on which BGs are accepted from the contractors should be enclosed with the tender document and it should be verified verbatim on receipt with original document. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">ii) It should be insisted upon the contractors, suppliers etc. that BGs to be submitted by them should be sent to the organization directly by the issuing bank under Registered Post (A.D.). </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">iii) In exceptional cases, where the BGs are received through the contractors, suppliers etc., the issuing branch should be requested to immediately send by Registered Post (A.D.) an unstamped duplicate copy of the guarantee directly to the organisation with a covering letter to compare with the original BGs and confirm that it is in order. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">iv) As an additional measure of abundant precaution, all BGs should be independently verified by the organizations. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">v) In the organisation/unit, one officer should be specifically designated with responsibility for verification, timely renewal and timely encashment of BGs. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Keeping above in view, the organizations may frame their own detailed guidelines to ensure that BGs are genuine and encashable. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><a href="http://www.taxindiaonline.com/RC2/inside2.php3?filename=wnew/cvccir01.htm" target="_blank">CVC Circular No. 01/01- 08 Dated: December 31, 2007 </a></font></p>
<p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><font color="#006600">Jurispruden</font> <font color="#FF6633" size="5">tiol</font> <font color="#006600">– Tomorrow's cases </font></strong></font></p>
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<p align="justify"><font color="#663399" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Income Tax/AAR </strong></font></p>
<p align="justify"><font color="#FF6633" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Income Tax – NRO (Non Resident Ordinary) Deposits are FE assets: Interest to be taxed at 20%: TDS at 20% - AAR </strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The facts of this case lie in a narrow compass. Shri V. Ravi Narayanan (the applicant), left India on 23 April, 2007 and is living in the Kingdom of Saudi Arabia. As he has spent more than 182 days outside India , he has claimed the status of a non-resident individual for the financial year 2007-08, corresponding to the assessment year 2008-09. He proposes to open a Non-resident Ordinary deposit ( NRO account) with banks in India with the help of remittances from Saudi Arabia . He claims that the interest income arising from that account will be 'investment income ' under section 115C of the Income-tax Act, 1961. Accordingly, it will attract income-tax @ 20% under section 115(E) of the Act. However, banks in India do not regard this type of income as Investment income '. They treat it as other income and deduct tax @ 30%. The applicant had taken up the issue with the HDFC bank which finally took the stand that it will deduct tax @ 30%. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">In the light of the above facts, the applicant sought advance ruling on the following questions:- </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">a) Can a Non Resident Ordinary ( NRO ) deposit acquired with convertible foreign exchange (remittances from overseas through Banking Channels) be treated as a "foreign exchange asset" or not under Sec 115 C of the Income Tax Act? </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">b) Should the interest on these NRO deposits created with overseas remittances be treated as investment income under Sec 115 C or treated as 'other income"? </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">c) Am I right in assuming that the interest income on such deposits is taxable at 20% as per Sec 115E of the IT Act? </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">d) Are Banks right in deducting TDS at 30% on such deposits treating the interest as "other income" (Part II-1-b-1-k of the First Schedule of the Finance Bill 2007) and not as "investment income" (as per Part ll -1-b-1-a of the First Schedule of the Finance Bill 2007)? This results in excess TDS by Banks. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">e) Are Banks right in refusing to accept Form 15 G from Non Resident Indians? </font></p>
<p align="justify"><font color="#663399" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Central Excise </strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><font color="#FF6633">Review by Committee - Single Commissioner wearing two caps – Revenue fails to succeed before Tribunal even in ROA application </font></strong></font></p>
<p align="justify"><font color="#FF6633" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>A</strong></font><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong> </strong>face-saving exercise has been conducted by the Board in review matters by proposing amendments to sections 35B & 35E of the CEA '44 inasmuch as in case of difference of opinion between the two Committee Members, the matter is to be referred to the jurisdictional Chief Commissioner & the Board respectively for a final say in the matter. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">This was necessitated because of the Board Circular 825/2/2006- CX , dated 06.02.2006 that was mocked at by the Tribunal in the case of L.G.Balakrishnan & Bros. Ltd. [ <a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=52&filename=legal/cestat/2007/2007-TIOL-143-CESTAT-MAD.htm" target="_blank"><strong><font size="1">2007-TIOL-143-CESTAT-MAD </font></strong></a><strong>] </strong> & when it was held that the same was without any legal basis & could not be given effect to. Incidentally, the said Circular conveyed to the field formations that if there is a difference in opinion, the Committee Member who proposed a review should be allowed to carry his view forward & the other Member should merely sign on the dotted line. This situation would probably be history after the Finance Bill, 2008 is enacted. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">But the problem of one Committee Member wearing two hats still remains. However, the Tribunal appears to have reached a <strong><em><font color="#FF6633">lasting view</font> </em></strong> on the subject. </font></p>
<p align="justify"><font color="#FF6633" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Konkan Railway bridge need not be pulled down – No extended period in the second </strong>SCN <strong>, when the facts were known to the Department in the earlier SCN </strong>.- <strong> Supreme Court </strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><a href="http://www.taxindiaonline.com/RC2/inside2.php3?filename=bnews_detail.php3&newsid=1481" target="_blank">In DDT 95 - 15 04 2005, we asked, </a></font></p>
<p align="center"><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Can Commissioner pull down a bridge of the Konkan Railways? </strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The Commissioner confiscated girders used in the bridges for the Konkan Railways and imposed a redemption fine of Rs. 5 lakhs. What will happen if they do not redeem the girders? Will the Commissioner send his Inspectors to pull down the bridges? The CESTAT observed, <strong><font color="#FF6633">“We do not know what would happen if the appellants do not redeem them. The Commissioner would be in no position to pull down the bridge to recover the blessed girders” </font></strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">See our breaking news story <strong><a href="http://www.taxindiaonline.com/RC2/inside2.php3?filename=bnews_detail.php3&newsid=1480">Commissioner pulls down Konkan Railway bridge - well, almost! </a></strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">That was while reporting <a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=52&filename=legal/cestat/2005/2005-TIOL-296-CESTAT-MUM.htm" target="_blank"><strong><font size="1">2005-TIOL-296- CESTAT-MUM. </font></strong></a></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The case had gone to Larger Bench of the Tribunal and is now in the Supreme Court. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Appellant manufactures PSC girders at site to be used in the construction of Railway Bridge for Konkan Railways. The period involved is June 1994 to February, 1995. These articles were cleared without payment of central excise duty under Central Excise Act, 1944 (in short the 'Act '). A show cause notice was issued on 8.5.1996 and the appellant was asked to show cause as to why duty amounting to Rs.53,91,498 /- should not be demanded from it, as the girders were cleared without payment of duty, why they should not be confiscated and why penalty should not be imposed on the person concerned. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The Commissioner adjudicated the case demanding duty and confiscating the girders which were by then removed to be placed on the bridge and imposed penalties. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><font color="#FF6633">Govt dues do not have priority of claim over that of secured creditors - Once Petitioner has purchased assets in an auction held under SARFAESI Act, they will hold assets</font> <font color="#FF6633">free from any encumbrances – Liability of earlier company cannot be recovered from new buyer : Bombay HC </font></strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">M/s UIL had been operating a Pig Iron factory at Redi and had run up huge debts to Banks and other Financial Institutions. IDBI issued notice under Section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (" SARFAESI Act") on July 24, 2002 for the sum of Rs. 594.52 crores . IDBI Bank entered into an agreement with the Stressed Assets Stabilisation Fund ( SASF ) by which the IDBI Bank assigned/transferred to SASF the financial assistance granted by them to the borrower together with all securities and all rights in respect thereof. SASF issued an advertisement in "The ET" calling for "Expression of Interest" from parties interested in purchase of assets of UIL at Redi and Satarda plants in Maharashtra. After doing all that was needed, an Expression of Interest for procuring the assets of the Redi plant offered for sale by SASF was received from the Petitioner. The Petitioners were informed by the Authorised Officer that their bid was adjudged as the highest bid and consequently the secured creditors decided to sell both the moveable and immovable assets of Redi unit to the Petitioners. After making the necessary payments, a sale certificate for the immovable properties of Redi Plant was issued in favour of the Petitioners along with possession certificate. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">At this stage, a demand notice dated 25.1.2006 was issued to the Petitioners by the Superintendent of Central Excise, demanding the sum of Rs. 12.98 Crores plus further interest that was due from UIL . Incidentally, the Petitioners on 01.02.2006 had applied for registration in terms of Rule 9 of the Central Excise Rules, 2002. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">While refusing registration, they were informed that in the said premises there is already an existing Central Excise registration in favour of UIL and that registration was not cancelled as yet because Government dues are pending against them. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">After all the investment, when faced with this debacle, the petitioner found it prudent to approach the High Court by filing a Writ Petition. </font></p>
<p align="justify"><font color="#FF6666" size="2" face="Verdana, Arial, Helvetica, sans-serif">Until tomorrow with more DDT </font></p>
<p align="justify"><font color="#FF6666" size="2" face="Verdana, Arial, Helvetica, sans-serif">Have a nice day. </font></p>
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