Case started in mid 1980's (show cause)

Duty and penalty levied on the party 'X'

tribunal altered the duty calculation and penalty. Minimum deposit and bank gaurantee given against the amount.

Meanwhile prosecution case started after 8-9 months of show cause.

Thereafter, Hon' SC deleted the penalty completly on the ground that when tribunal has altered the excise duty amount so penalty should not be imposed.

Our query is... Can the prosecution case stand when the penalty has been rejected?
Cancellation of penalty shows that there was no intention of duty invasion and so the Rule 9(1) should not be applicable.
Does anyone know any example case wherein such judgements have passed.

Sir,

Pls guide me what is the maximum limit of deductions u/s 80 C at present.

Pls tell me the investments on which these deductions can be claimed.


Regards
Narendra Singh

Dear All,
Kindly tell me whehter our client who is registered as the first stage dealer are required to pass any accounting entry on the
amount of excise duty passed on by them ?

They are just recording the cenvat paid on the amount of the purchase in the purchase account and no entry nin the books for the passed on amount they just have the track of the amount passed on on papers and in the excise returns pls tell me whether the current status of accounts is proper or any accounting effect is needed to be given ??

whether names of subscribers to memorandum to be entered in share application and allotment register or not. i have heard from some professionals that it is optional. i used to enter their names in register of members only. kindly clarify?

Dear Experts,
In the month of April-2009 we have made an invoice for a certain article Rs.100 insted of Rs. 75. Duty and Taxes are calculated on Rs. 100 and already paid to the department.
But now only we came to know our mistake. Then how we will recover excess duty which we already paid to the department.
Thanks and regards,
R.Dutta

ITR V OF AY 08-09 SHOULD BE SEND TO BANGLORE OR TO THE RESPECTIVE IT WARD??

Respected Sir,

Pl guide me that, in usually in partnership firm we issue the interest to partners for the capital. but if they take the excess amount (overdraft)from business then what will be interest rules.

thanking you,
yours sincerely

v s konkati

There is a queary regarding TDS. we are the civil contractor and carrying out eraction of towers as civil contractor TDS is 2.06.

Now, the company has paid us Rs. 200000 as part payment of bill insted of Rs.1000000 as full amount for the bill of last financial year and deducted full amount of TDS in last year and company will pay the rest amount in this year. whether is it tenable? what should be the accounting entry? and how i can claim refund and show my income of Rs.800000?

Karnataka sales tax @ 4% for Printed catalogues,Just i want know what is the CST Rate for inter state sales with "C" Form or without "C" Form

could u tell me whether an AGM be held on 30th september which is a public holiday according to negotiable instrument act,1881.But A letter was issued by DCA in 1981 for holding AGM in banking closing holidays.Plz suggest me.