VV Minerals Satisfied With Court Order

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VV Minerals Satisfied With Court Order
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An interim stay has been granted by the Madurai
bench of the Madras High Court on its single
judge order of 28th October. This has worked in
the favour of V. V. Minerals, said to be the
country's largest manufacturer and exporter of
garnet and ilmenite. The commissioner of Excise
duty wont be able to collect Rs. 76.67 crore
from the company, as Central Excise from 2011 to
2014. The Commissioner challenged this move by
filing a writ appeal before the division bench of
Justices V Ramasubramanian and N Kirubakaran.
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A writ appeal filed by the commissioner of
central excise challenging the order had come up
before the division bench.
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A show cause notice was issued by the
commissioner of central excise on 26th December,
2014. The notice required V. V. Minerals India to
answer why it should be exempted the duty for the
minerals. The company aptly challenged this
notice by moving to high court bench. V. V.
Minerals claimed that extracting minerals from
sand technically falls under the category of
mines, thus defending that the minerals were
supposed to be exempted from excise duty.
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The company wasnt provided with all the
documents required to help the firm give an
effective reply. The bench dismissed it by
directing the commissioner to provide documents
relied on in the show cause notice to enable the
firm to give an effective reply. The company
approached the court again alleging that the
office did not give it all the documents. Justice
S Vaidyanathan asked the excise office to provide
the documents. After studying the matter, Justice
T Raja passed an order on October 28 where the
commissioner was asked to decide the exemption.
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Following the hearing, the division bench said
there should be an interim stay on the order
passed on October 28 and adjourned the hearing.
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Here Is The Times OF India (TOI) Link For More
Details
Link
http//timesofindia.indiatimes.com/city/madurai/Or
der-barring-collection-of-77cr-excise-duty-from-fi
rm-stayed/articleshow/50319178.cms
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V. V. MINERAL BLOGS _at_
http//vvmineralblog.wordpress.com
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SOCIAL MEDIA _at_
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https//twitter.com/vvmineralsindia
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THANK YOU