9911796707
TMI Blog1973 (6) TMI 3X X X X Extracts X X X X X X X X Extracts X X X X ..... s three paper mills situated at the following places : (1) No. 1 Mill at Titaghar, West Bengal. (2) No. 2 Mill at Kankinara, West Bengal. (3) No. 3 Mill at Choudwar, Cuttack, Orissa. There are 32 varying qualities or types of paper alleged to have been manufactured at the said three paper mills. Some of these different varieties of paper are as follows : (a) White printing and writing light and heavy. (b) Coloured printing and writing heavy and light. (c) Unbleached varieties. (d) Embossed covers. (e) Blottings. (f) Paste boards. (g) Coated paper. (h) Impression paper, etc. The petitioner made an application dated 21st June, 1967, in the statutory form before the appropriate authority for the grant of a tax credit certificate under section 280ZD of the Income-tax Act, 1961 (hereinafter referred to as " the Act "), read with the Tax Credit Certificate (Excise Duty on Excess Clearance) Scheme, 1965 (hereinafter referred to as " the scheme "), for the financial year 1966-67. The basis on which the petitioner claims the tax credit certificate has not been clearly stated in the petition. In the course of the hearing, learned counsel for the petitioner explained that this c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ted to any person who manufactures or produces any goods for an amount calculated with reference to the excess amount of duty of Central excise payable by him on that quantum of goods cleared by him during the relevant financial year over the amount of such duty which he has paid on the quantum of the goods cleared by him during the base year. The rate at which the amount of the certificate is to be calculated is specified in the Scheme but it will not exceed 25% of the excess stated above. The " base year " for the purpose of the said section means the financial year 1964-65, but in the case of an undertaking which was not in production during that year, it will be the subsequent financial year in which it began production. The benefit of this tax credit will be available in respect of the financial years 1965-66 to 1969-70. The amount shown on a tax credit certificate granted to any person can be adjusted against any existing liability of such person under the Indian Income-tax Act, 1922, or the Act or any such liability arising out of a period of 12 months from the date on which the certificate is produced before the Income-tax Officer, and the amount, if any, remaining after su ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent of a New York court : " The first exposition I have found of the word ' goods ' is in Bailey's Large Dictionary of 1732, which defines it simply ' merchandise '; and by Johnson, who followed as the next lexicographer, it is defined to be movables in a house ; personal or immovable estates ; wares, freight ; merchandise." Webster defines the word " goods " thus : " Goods, noun, plural ; (1) movables ; household furniture ; (2) Personal or movable estate, as horses, cattle, utensils, etc. ; (3) Wares; merchandise ; commodities bought and sold by merchants and traders." In the case of Union of India v. Delhi Cloth and General Mills , on a construction of the Central Excises and Salt Act, 1944, it has been held that to become " goods ", an article must be something which can ordinarily come to the market to be bought and sold. It is also to be noticed that the First Schedule to the Central Excises and Salt Act, 1944, enumerates different items, which give the descriptions of the excisable goods of each item. Although the description of the goods is of a generic nature, there are various qualities, varieties of products each of which can be termed and classified as distinct and se ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h exceeds the quantum of the goods cleared by him during the base year. The section does not restrict the clearance of the quantum of the goods in respect of one particular factory. It requires the appropriate authority to take into account the total quantum of the goods cleared by a person during the relevant financial year. The various clauses under the Scheme bear out the same interpretation. Under clause 5 of the Scheme if a person owns more than one factory manufacturing or producing the same class of goods he is to file a declaration in Form " B " in respect of each such factory for the base year and the relevant financial year. Form "A" which appears in Schedule II to the Scheme is the application form for claiming tax credit certificate on excess clearance made during the financial year. Item No.3 requires a person to give the description of the goods manufactured or produced. Item No. 4 requires the particulars of factories and clearances to be furnished and a declaration in Form " B " should be attached in respect of each factory. In the various columns under Item No. 4 of Form " A ", column No. 2 specifically sets one the name and the location of the factory. Column No. ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
