Calcutta High Court
Uco Bank vs Customs on 28 January, 2014
Author: Harish Tandon
Bench: Harish Tandon
WP No. 7 of 2014
IN THE HIGH COURT AT CALCUTTA
Constitutional Writ Jurisdiction
ORIGINAL SIDE
UCO BANK
Versus
CUSTOMS, EXCISE AND SERVICE TAX APPELLATE TRIBUNAL,
EAST ZONAL BENCH, KOLKATA & ORS.
Appearance
Mr. J.P. Khaitan, Sr. Adv.
Mr. C.M. Ghorawat, Adv.
Ms. Anupa Banerjee, Adv.
...Petitioner
Mr. Shiv Shankar Banerjee, Adv.
...Respondents
BEFORE:
The Hon'ble JUSTICE HARISH TANDON Date : 28th January, 2014.
The Court : The entire gamut of disputes relate to the interpretation of notification dated 22nd September, 2004 and Rule 6 of the CENVAT Credit Rules, 2004 over the amount received on discounting of bills or cheques.
According to the petitioner, the amount on discounting of bills partakes a character of an interest and, therefore, the stand of the department is unjustified.2
As per the department, those amounts cannot come within the ambit of interest to charges and, therefore, cannot be brought under the Exempted Category.
Upon hearing the respective counsels, this Court feels that the matter requires consideration.
There shall be a stay of all further proceedings in an appeal pending before the Tribunal for a period of four weeks from date or until further orders whichever is earlier.
In view of the above, let this matter appear on 11th February, 2014 in the supplementary list.
(HARISH TANDON, J.) sg.