Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Central Excise - Highlights / Catch Notes

Home Highlights October 2015 Year 2015 This

Valuation - Undervaluation of goods - It has come on record ...


Tribunal Clears Assessee of Liability After Merchant Manufacturers Found Undervaluing Goods Without Assessee's Knowledge.

October 7, 2015

Case Laws     Central Excise     SC

Valuation - Undervaluation of goods - It has come on record that the merchant manufacturers were disclosing lesser value. It has also come on record that this fact was not known to the assessee. - Tribunal has, therefore, rightly absolved the assessee of any liability - SC

View Source

 


 

You may also like:

  1. Job-worker or manufacturer - Duty liability - The case revolved around the appellants' role as job workers in the manufacture of machine-made dipped matches, supplied...

  2. Merchant exporter - Failure to export the goods - goods procured against CT1 certificate - appellant discharged the duty liability - Interest liability - the appellant...

  3. Penalties levied u/ss 271D and 271E were challenged. The assessee was found to have violated Sections 269SS and 269T. However, there was no concrete finding that the...

  4. The Appellate Tribunal considered a case involving penalty u/s 271(1)(c) for furnishing inaccurate particulars of income. The Assessee did not disclose non-eligibility...

  5. The Appellate Tribunal addressed a case involving revision u/s 263 by PCIT questioning the recognition of liabilities 'Nardana Claim-1' and 'Nardana Claim-2' under ICDS....

  6. ITAT allowed the appeal and remanded the case for reassessment. The Tribunal found procedural irregularities in the assessment order, specifically noting that the...

  7. The Income Tax Appellate Tribunal (ITAT) adjudicated on various additions made by the Assessing Officer (AO) as unexplained/bogus credits or trading liabilities. The...

  8. The assessee had not obtained and furnished the Audit Report from the Accountant within the due date. The Tribunal held that the levy of penalty u/s 271B is not...

  9. TDS u/s 194C - payments of purchase to various vendors - Non deduction of TDS - Upon analysis, the Appellate Tribunal agreed with the assessee, ruling that the...

  10. Disallowance of excise duty liability as deduction since it was not actually paid by the assessee during the relevant year - We find that the Tribunal has rightly taken...

  11. Revision u/s 263 challenged for lack of proper inquiry by Assessing Officer regarding cash deposits during demonetization, scrap sales, and non-submission of audit...

  12. Rejection of central sale made by the assessee - once the Tribunal has recorded the finding that the documents, as required by it, was not placed by the assessee and no...

  13. Valuation - Job work - fabric + job work charges – alleged that merchant manufacturers suppressed the value of grey fabric, which resulted in short payment of duty by...

  14. Approval of Resolution plan - Propriety of the valuation exercise conducted by the RP - The tribunal dismissed concerns regarding the SRA's competence, noting that the...

  15. Additions on account of Bogus unsecured loans and bogus share capital money - Revenue argued that the unsecured loan from entities controlled by a hawala operator should...

 

Quick Updates:Latest Updates