TaxTMI 
TaxTMI 
2005 (9) TMI 19
X X X X Extracts X X X X
X X X X Extracts X X X X
..... was a company incorporated as Pvt. Ltd. Company on 29-10-70 and they were engaged, as assessee under the Central Excise Act, 1944, in manufacturer of Electrical Motor parts etc., and had filed necessary declaration claiming exemption from payment of duty. They obtained a registration on crossing the prescribed limits of turnover. 1.2They entered into a joint venture with M/s. ABB Holding (South....
X X X X Extracts X X X X
X X X X Extracts X X X X
....f notification benefit, confirmed the demand and imposed a penalty. 1.4CCE (A), dismissed the appeal filed on the grounds of the assessee being a corporate facade of the holding Company and in view of camouflage of the actual identity to avail in admissible exemption finding financial flow back due to Related Person 'concept being satisfies, held and found that Geographical apart situs, separate....
X X X X Extracts X X X X
X X X X Extracts X X X X
....is the basic concept of a company under law. The piercing of veil of corporate identity can be resorted only under special circumstances. A subsidiary has to be recognized as an independent company. We find no reason to pierce the veil. (b)It is recognized fact that the private limited company viz. M/s. Lenzohm Electrical Co. Pvt. Ltd. was an established company in the field of repairs/maintenanc....
X X X X Extracts X X X X
X X X X Extracts X X X X
....monetarily involved with the appellants company only from 26-12-97 and was recognized and established vide incorporation certificate dated 19-6-98 by the Registration of companies and there irrespective of transfer of shares, it did not exist before 19-6-98 the date of incorporation. Therefore the demands made on the grounds, upto 18-6-98 cannot be sustained for the period before incorporation i.e....