2019 (9) TMI 696

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....By that order, the Tribunal has confirmed the levy of penalty on the assessee. 2. Undisputedly, the assessee M/s Godfrey Phillips India Ltd. (in short 'GPI') is the holding company of International Tobacco Company Ltd. (in short 'ITC'). It was the case of the assessee that it had got printed and manufactured packing cases for cigarettes by third entity namely, M/s Twenty First Century Printers Ltd., at Silvassa. Since the manufacturing of cigarettes had been done by the ITC at Ghaziabad, the packing cases thus manufactured on job work were dispatched to Ghaziabad, against invoice nos.1372 and 1373, issued by M/s Twenty First Century Printers Ltd., in favour of ITC. For the purposes of transportation, they were accompanied....

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....nd was made for use by it's subsidiary. 7. In any case, it has been submitted, once the goods had been duly disclosed in import declaration form and there was no discrepancy in goods description, no intention to evade tax could ever arise, inasmuch as the assessee itself was registered inside the State of U.P. All other matters pertaining to the accounting and value of goods by the assessee and its subsidiary, would remain a matters to be considered in the assessment proceedings. Last, it has been submitted, in any case, there is no finding recorded by the assessing authority, of any intention to evade tax and, therefore, penalty proceedings are wholly unfounded. 8. Opposing the revision, learned Standing Counsel would submit, the....