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Anandrajan appointed as OSD to TPL-II in CBDT (See 'Transfer' in Pitara) Chandra Garg goes to World Bank as ED CBDT notifies teritorial jurisdiction of Principal CCITs and Principal Commissioners (See Notification 50 in 'What's New') Coal Scam: Former Coal Secretary gets bail with two others India votes against UN Resolution on nuclear non-proliferation treaty Standing Committee on Railways invites suggestions to prevent filing of duplicate compensation claims (See 'Mixed Buzz') Anita Kapur gets Addl Charge of CBDT Chairperson + Kaushal Srivastava gets Addl Charge of CBEC Chairman (See 'Service News' in Pitara) Exemption to goods imported for CWG - Exemption extended to suppliers & vendors of Organising Committee by amending Notifn No 84/2010 cannot be applied retrospectively: CESTAT (See 'Breaking News') Indian Austerity Service: Babus asked to tighten belts - Austerity in Administration (See 'DDT' Column) SIT on Black Money decides to seek public help to build database on foreign bank account holders Income tax - Whether when income of assessee is finally assessed u/s 115JB and not under normal provisions of Act, addition can still be made with respect to income determined under normal provisions - NO: ITAT (See 'Breaking News') Issue of shares by Indian Companies under ADR & GDR (See 'Guest' Column) Swiss Revenue not in favour of Indian Revenue sharing data even with Courts CX - Balance sheet figures included quantity of re-rolled products traded - demand on differential quantity dropped by CCE & Revenue appeal dismissed by Tribunal - in grounds taken by Revenue, there hardly exists any element of law - Reference rejected: HC (See 'Breaking News') Should Customs Assistant Commissioners wear uniform? (See 'DDT') Income tax - Whether RTO charges paid one time are revenue expenditure: ITAT (See '2014-TIOL-794') PMJDY to boost savings rate in economy: Official (See 'Mixed Buzz') FM asks CCITs not to lose sight of domestic black money generation (See 'Mixed Buzz') Lucknow DRI seizes 55000 kg Red Sanders worth Rs 25 Cr from export container lying at Tughlakabad ICD; Four persons arrested Govt launches austerity drive; no more first class travel; non-plan expenditure to be cut by 10% to contain fiscal deficit at 4% Trichy Airport Customs seizes gold bars worth Rs 82 lakhs abandoned in gents' toilet ACC cancels transfer of Arvind Mayaram to Ministry of Tourism; he now goes to Ministry of Minority; Expenditure Secretary gets Addl Charge of Economic Affairs for one month India re-elected to UN Economic & Social Council Investigation into Black Money in Foreign Bank Accounts: Is there any Room for hatchet job? (See 'The Cob(Web)' Column) Cus - A trader-importer, who paid SAD & who discharged VAT or ST liability on subsequent sale, and who issued invoices without indicating details of duty paid would be entitled to benefit of Notifn 102/2007: CESTAT (See 'Breaking News') Income Tax - Over 5 lakh non-filers under scan (See 'DDT' Column) Income tax - Whether provisions of Sec 14A come into play only after AO first examines disallowance made by assessee itself and then AO is not satisfied with same - YES: ITAT (See 'Breaking News') One bureaucrat built tax haven in Luxembourg (See 'DDT') PMO Panel mulling making of FI for postal savings (See 'Mixed Buzz') CENVAT Credit on capital goods used initially in manufacture of exempted goods - Credit not deniable if at time of receipt, appellant had intention to use machinery for manufacture of dutiable as well as exempted goods - Matter remanded: CESTAT (See 'Breaking News') Head and Tail of Headnotes sometimes misleading (See 'DDT') India, Oman discuss ways to increase Bilateral Trade (See 'Mixed Buzz') I-T - Whether sale agreement executed on a plain paper cannot constitute valid evidence and same cannot be termed as ownership document of property for income tax purpose: ITAT (See '2014-TIOL-787') Doing Business - India slips to Rank 142 in the world (See 'DDT') G20 commits to implement automatic exchange of tax information from 2017; beneficial ownership details to be made available to treaty partners (See 'TII Breaking News') CBDT issues transfer order of 22 CCITs + 19 to hold additional charge (See 'Transfer' in Pitara)
 
   
DDT (Daily Dose of Taxation)

Indian Austerity Service: Babus asked to tighten belts - Austerity in Administration

With VIJAY KUMAR

Indian Austerity Service: Babus asked to tighten belts - Austerity in Administration
Published: October 31, 2014

View previous DDTs »

WHAT'S NEW
CUS
:
Not 30 NT 98 Cir 10
ADD
:
43 Inst: 08 SG: 03
EX
:
Not 08-20 NT 31 Cir 988
S.TAX
:
Not 20-22 Cir 180 Order
I-T
:
Not 50 Cir 15 Press Note
DGFT
:
Not 95 PN 71 Cir 13
RBI
:
Cir 36    
BREAKING NEWS

New Delhi, October 31
Cus - Exemption to goods imported for Common Wealth Games - Exemption extended to suppliers, contractors & vendors of Organising Committee by amending Notifn No 84/2010 cannot be applied retrospectively: CESTAT

New Delhi, October 31
Income tax - Whether when income of assessee is finally assessed u/s 115JB and not under normal provisions of Act, addition can still be made with respect to income determined under normal provisions - NO: ITAT

Hyderabad, October 31
CX - Balance sheet figures included quantity of re-rolled products traded - demand on differential quantity dropped by CCE & Revenue appeal dismissed by Tribunal - in grounds taken by Revenue, there hardly exists any element of law - Reference rejected: HC

Mumbai, October 30
Cus - A trader-importer, who paid SAD & who discharged VAT or ST liability on subsequent sale, and who issued invoices without indicating details of duty paid would be entitled to benefit of Notifn 102/2007: CESTAT

Mumbai, October 30
Income tax - Whether provisions of Sec 14A come into play only after AO first examines disallowance made by assessee itself and then AO is not satisfied with same - YES: ITAT

MIXED BUZZ
XCuSE Updates
XCuSE
PUZZLE TO DAZZLE
Punit Vedby PUNIT PAVAN VED CA

Can provision of lower rate of interest on refund be struck down on ground of equity.

Published: October 27, 2014

Post Answer »
THE COB (WEB)
Rising NPAs - Fault lies with our lax Regulator!by SHAILENDRA KUMAR

Investigation into Black Money in Foreign Bank Accounts: Is there any Room for hatchet job?
Published: October 30, 2014

View previous 'The COB(Web)s'»
TIOL EDITORIAL
Let growth & jobs drive the changes in taxes & expenditure in 2015-16 Budgetby TIOL EDIT TEAM

Let growth & jobs drive the changes in taxes & expenditure in 2015-16 Budget
Published: October 29, 2014

View previous Editorials»

ICE CUBES
by NARESH MINOCHA Kejriwal has last laugh in murky politics of gas pricing & imports

Kejriwal has last laugh in murky politics of gas pricing & imports
Published: October 21, 2014

View previous ICE CUBEs »

GUEST COLUMN

Issue of shares by Indian Companies under ADR & GDR by GURLEEN KAUR

Issue of shares by Indian Companies under ADR & GDR
Published: October 31, 2014

View previous Guest Column(s);

ST se GST tak

Distribution of Credit by an ISD by S RADHAKRISHNAN

Distribution of Credit by an ISD
Published: October 29, 2014

View previous ST se GST tak(s)»

View 'ST - New Law +VE or -VE' Articles»

 
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