Opportunity to furnish unsecured-loan confirmations is required before reassessment initiation; proceedings require fresh consideration after taxpayer...
Under-reporting on a first reassessment return attracts penalty, while enhanced misreporting penalty requires proof of a statutory misreporting catego...
The appellant paid excise duty on the removal of inputs as such, based on the transaction value. However, this excise duty was found to be in excess of the actual CENVAT credit involved in such removal. Section 11D of the Central Excise Act, 1944, states that if an assessee collects an amount in the name of excise duty and retains it, the same must be credited to the Central Government. In this case, although the appellant charged excise duty over and above the CENVAT credit involved, the total amount collected from the customer was paid by debiting the CENVAT account. According to the CESTAT judgment in Shivam Metals, if the amount collected in the name of excise duty is paid to the government, the demand for such amount cannot be raised invoking Section 11D. Therefore, the demand u/s 11D in the present case is not sustainable, and the impugned orders are set aside, allowing the appeals.
The appellant paid excise duty on the removal of inputs as such, based on the transaction value. However, this excise duty was found to be in excess of the actual CENVAT credit involved in such removal. Section 11D of the Central Excise Act, 1944, states that if an assessee collects an amount in the name of excise duty and retains it, the same must be credited to the Central Government. In this case, although the appellant charged excise duty over and above the CENVAT credit involved, the total amount collected from the customer was paid by debiting the CENVAT account. According to the CESTAT judgment in Shivam Metals, if the amount collected in the name of excise duty is paid to the government, the demand for such amount cannot be raised invoking Section 11D. Therefore, the demand u/s 11D in the present case is not sustainable, and the impugned orders are set aside, allowing the appeals.
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TaxTMI 
TaxTMI 
of 4915 
