Annexure XIV Continued… - Edelweiss

Appeal before the CESTAT
SCPL filed an appeal no. 461 of 2007 on August 27, 2007 before the CESTAT , Delhi against the order in
original passed by the Commissioner , Service tax, Raipur on May 24, 2007 confirming a demand of ` 57.49
million and appropriating there from a sum of ` 38.87 million which SCPL deposited before the issuance of
show cause notice. CESTAT vide its order dated December 14, 2007 admitted the appeal with waiver of any
pre deposit. The matter is currently pending.
III. Litigation involving our Promoters
As the Promoters are also the Directors of our Company the outstanding litigation against the same have been
discussed under “Litigation involving our Directors” of this section.
IV. Litigation involving our Group Companies
1. Sainik Finance & Industries Limited (“SFIL”)
Outstanding litigations against SFIL
Tax
1. Deputy Commissioner of Income Tax, Circle 7(1), New Delhi v. Sainik Finance & Industries Limited
before ITAT for A.Y. 2007-2008
The Deputy Commissioner of Income Tax filed an appeal no. 3799/Del/10 dated August 06, 2010 before the
ITAT against order dated May 05, 2010 passed by the CIT Appeals-X. The CIT Appeals-X had disallowed the
additions made by the Deputy Commissioner of Income Tax, Circle 7(1), New Delhi in the assessment order
dated December 22, 2009. The Deputy Commissioner of Income Tax in its order dated December 22, 2009 for
A.Y. 2007-2008 has disallowed the set-off of losses from cement manufacturing business against profit from
finance business. The total amount involved in this appeal is ` 4.70 million. The demand has already been paid
by SFIL. The appeal is currently pending with ITAT.
2. Deputy Commissioner of Income Tax, Circle 7(1), New Delhi v. Sainik Finance & Industries Limited
for scrutiny assessment proceedings for the A.Y. 2009-2010
SFIL has received a notice dated August 18, 2010 under section 143(2) of the I.T. Act from the Deputy
Commissioner of Income Tax, Circle 7(1), New Delhi for scrutiny assessment proceedings requesting for
certain information for A.Y. 2009-2010. SFIL has submitted the details and the assessment proceedings are
currently pending.
Outstanding litigations by SFIL
Criminal
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