SC upholds plea of revenue neutrality in case of captive consumption to set aside invocation of extended period
Last updated: 15 June 2015
Court :
Supreme Court
Brief :
The Hon’ble Apex Court held that even though the goods were found to be different, payment of duty taking comparative value was done with bona fide belief. When entire exercise was revenue neutral (i.e. credit of duty paid on captive consumption was available to the Appellant itself), the Appellant could not have achieved any purpose to evade duty. Hence, extended period of limitation and consequent demand was set aside.
Citation :
Nirlon Ltd. Vs. Commissioner of Central Excise, Mumbai [(2015) 58 taxmann.com 28 (SC)]
You have reached your daily limit of 2 Free Judgements
Subscribe to CCI PRO for unlimited access
Why Upgrade to CCI PRO?
- No Ads
- WhatsApp Broadcasts
- Daily E-Newsletter
- Unlimited Judgements Access
Already a PRO member? Login here for an ad-free experience.
Bimal Jain
Published in Community & General
Views : 2750
Comments
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
