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Friday , August 28, 2015 | Updated : Aug 28, 14:41 IST
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India, Germany agree to amend DTAA; enhance exchange of information (See 'Mixed Buzz') CX - When it is not disputed that appellant is not required to discharge any CE duty on goods exported by them and revenue authorities have held that amount debited is without any authority of law, natural corollary would be that amount is returned as Revenue can collect tax/duty only by authority of law: CESTAT (See 'Breaking News') e-Governance important pillar of 'Digital India': Minister (See 'Mixed Buzz') Cus - Petition seeking release of goods on ground that SCN was received after expiry of six months as stipulated u/s 110(2) - Petition dismissed as notice was despatched before expiry of six months: HC (See 'Breaking News') Income Tax - Deduction - Excise Duty paid under protest - ITAT allows (See 'DDT' Column) I-T - Whether income from sale of property acquired in past can be claimed as capital gains when assessee, engaged in developing housing project, failed to declare same in books audited every year - NO: HC (See 'Breaking News') Govt aware of FTAs and dumping hurting Indian rubber and steel sectors: Minister (See 'Mixed Buzz') ST - Chance taking petitioner - There is tendency of those persons who are liable to make payment of tax + interest + penalty to take chance before Court - Vigilant petitioner should have filed appeal within limitation period: HC (See 'Breaking News') Income Tax - Reporting of Financial Transactions (See 'DDT') Tax paid by mistake - Why bring Section 11B into picture? (See 'Guest' Column) I-T - Whether if assessee is relying upon exception mentioned under rule 6DD, in that case burden of proof is upon assessee - YES: HC (See '2015-TIOL-1976') No IT Return under RTI Act - SC Dismisses Petition (See 'DDT') Shillong Customs arrests two persons with gold worth over Rs 40 lakhs Govt okays bid to import 1000 tonnes of onion at Rs 45 per kg; MMTC directed to float fresh tender for import of 10,000 tonnes onion Law Commission submits Report on Draft Model Investment Treaty (See 'Mixed Buzz') Govt mulling over proposal to levy cess on air tickets Law Commission for amendments in Bribery of Foreign Public Officials Bill (See 'Mixed Buzz') Ministry of Tourism to give Rs 600 Crore for Tourism Development in Bihar (See 'Mixed Buzz') Govt selects 184 districts for equitable healthcare facilities: PM Shrawan Lal Meena, Principal Commissioner, Jaipur, passes away today morning; After working as IPS he had joined IRS in 1985; Cremation to be done at his native place in Jaipur CX - S 35C(2A) - If main provision cannot be treated as mandatory, first, second and third proviso also cannot be treated as mandatory but directory - Three provisos have to advance cause of justice and not to defeat it: HC (See 'Breaking News') Pressure builds on GST Balloon but CBEC continues to ... (See 'The Cob(Web)' Column) I-T - Whether when there is no pro rata transfer of land to developer, assessee can be made liable to pay capital gains tax with respect to remaining land for which no sum was received as development agreement was cancelled - NO: HC (See 'Breaking News') CESTAT Appeals from UP to be filed at Allahabad (See 'DDT' Column) CX - While arriving at AV for RSP, an amount of abatement specified by notification can only be deducted - there is no provision under law to exclude warranty charges from RSP: CESTAT (See 'Breaking News') Free Home Delivery of Food No Service Tax Deputy Commissioner Clarifies + Huge Service Tax Demand on SEBI? (See 'DDT') Income tax - Whether merely because books of accounts are rejected, it does not mean that it must necessarily lead to addition in return of income - YES: HC (See '2015-TIOL-1966-HC') FTP SEZ - Procedure for filing applications under MEIS and SEIS (See 'DDT' Column) ST - Employees of foreign parent deputed to work in India - Demand under reverse charge - when issue is squarely covered, there would be no justification for directing a pre-deposit: HC (See '2015-TIOL-1973') Cabinet okays amendments in Arbitration & Conciliation Bill Union Cabinet extends tenure of 7th Pay Commission upto Dec 31, 2015 India, Seychelles formally sign Tax Information Exchange Agreement today along with pacts in defence areas Neerja Mathur takes over as Member of Joint Electricity Regulatory Commission for Goa & UTs India, Germany agree to amend DTAA; enhance exchange of information (See 'Mixed Buzz') CX - When it is not disputed that appellant is not required to discharge any CE duty on goods exported by them and revenue authorities have held that amount debited is without any authority of law, natural corollary would be that amount is returned as Revenue can collect tax/duty only by authority of law: CESTAT (See 'Breaking News') e-Governance important pillar of 'Digital India': Minister (See 'Mixed Buzz') Cus - Petition seeking release of goods on ground that SCN was received after expiry of six months as stipulated u/s 110(2) - Petition dismissed as notice was despatched before expiry of six months: HC (See 'Breaking News') Income Tax - Deduction - Excise Duty paid under protest - ITAT allows (See 'DDT' Column) I-T - Whether income from sale of property acquired in past can be claimed as capital gains when assessee, engaged in developing housing project, failed to declare same in books audited every year - NO: HC (See 'Breaking News') Govt aware of FTAs and dumping hurting Indian rubber and steel sectors: Minister (See 'Mixed Buzz') ST - Chance taking petitioner - There is tendency of those persons who are liable to make payment of tax + interest + penalty to take chance before Court - Vigilant petitioner should have filed appeal within limitation period: HC (See 'Breaking News') Income Tax - Reporting of Financial Transactions (See 'DDT') Tax paid by mistake - Why bring Section 11B into picture? (See 'Guest' Column) I-T - Whether if assessee is relying upon exception mentioned under rule 6DD, in that case burden of proof is upon assessee - YES: HC (See '2015-TIOL-1976') No IT Return under RTI Act - SC Dismisses Petition (See 'DDT') Shillong Customs arrests two persons with gold worth over Rs 40 lakhs Govt okays bid to import 1000 tonnes of onion at Rs 45 per kg; MMTC directed to float fresh tender for import of 10,000 tonnes onion Law Commission submits Report on Draft Model Investment Treaty (See 'Mixed Buzz') Govt mulling over proposal to levy cess on air tickets Law Commission for amendments in Bribery of Foreign Public Officials Bill (See 'Mixed Buzz') Ministry of Tourism to give Rs 600 Crore for Tourism Development in Bihar (See 'Mixed Buzz') Govt selects 184 districts for equitable healthcare facilities: PM Shrawan Lal Meena, Principal Commissioner, Jaipur, passes away today morning; After working as IPS he had joined IRS in 1985; Cremation to be done at his native place in Jaipur CX - S 35C(2A) - If main provision cannot be treated as mandatory, first, second and third proviso also cannot be treated as mandatory but directory - Three provisos have to advance cause of justice and not to defeat it: HC (See 'Breaking News') Pressure builds on GST Balloon but CBEC continues to ... (See 'The Cob(Web)' Column) I-T - Whether when there is no pro rata transfer of land to developer, assessee can be made liable to pay capital gains tax with respect to remaining land for which no sum was received as development agreement was cancelled - NO: HC (See 'Breaking News') CESTAT Appeals from UP to be filed at Allahabad (See 'DDT' Column) CX - While arriving at AV for RSP, an amount of abatement specified by notification can only be deducted - there is no provision under law to exclude warranty charges from RSP: CESTAT (See 'Breaking News') Free Home Delivery of Food No Service Tax Deputy Commissioner Clarifies + Huge Service Tax Demand on SEBI? (See 'DDT') Income tax - Whether merely because books of accounts are rejected, it does not mean that it must necessarily lead to addition in return of income - YES: HC (See '2015-TIOL-1966-HC') FTP SEZ - Procedure for filing applications under MEIS and SEIS (See 'DDT' Column) ST - Employees of foreign parent deputed to work in India - Demand under reverse charge - when issue is squarely covered, there would be no justification for directing a pre-deposit: HC (See '2015-TIOL-1973') Cabinet okays amendments in Arbitration & Conciliation Bill Union Cabinet extends tenure of 7th Pay Commission upto Dec 31, 2015 India, Seychelles formally sign Tax Information Exchange Agreement today along with pacts in defence areas Neerja Mathur takes over as Member of Joint Electricity Regulatory Commission for Goa & UTs
 
   
DDT (Daily Dose of Taxation)

Income Tax - Deduction - Excise Duty paid under protest - ITAT allows

With VIJAY KUMAR

Income Tax - Deduction - Excise Duty paid under protest - ITAT allows
Published: August 28, 2015

View previous DDTs »

WHAT'S NEW
CUS
:
Not 45 NT 82 Cir 21
ADD
:
Not 45 SG: 01  
EX
:
Not 40 NT 18 Cir 1005
S.TAX
:
Not 17 Cir 185 Inst 
I-T
:
Not 71 Cir 14  
DGFT
:
Not 18 PN 30,31 Cir02
RBI
:
Cir 09 Notif  
BREAKING NEWS

Mumbai, August 28
CX - When it is not disputed that appellant is not required to discharge any CE duty on goods exported by them and revenue authorities have held that amount debited is without any authority of law, natural corollary would be that amount is returned as Revenue can collect tax/duty only by authority of law: CESTAT

Bangalore, August 28
Cus - SCN u/s 124 - Petition seeking release of goods on ground that SCN was received after expiry of six months as stipulated u/s 110(2) - Petition dismissed as notice was despatched before expiry of six months: HC

Ahmedabad, August 28
I-T - Whether income from sale of property acquired in past can be claimed as capital gains when assessee, engaged in developing housing project, failed to declare same in books audited every year - NO: HC

Ranchi, August 28
ST - Chance taking petitioner - There is tendency of those persons who are liable to make payment of tax + interest + penalty to take chance before Court - Vigilant petitioner should have filed appeal within limitation period: HC

Allahabad, August 27
CX - S 35C(2A) - If main provision cannot be treated as mandatory, first, second and third proviso also cannot be treated as mandatory but directory - Three provisos have to advance cause of justice and not to defeat it: HC

MIXED BUZZ
XCuSE Updates
TIOL TUBE SNIPPETS
Replies to these questions can be found by clicking on the text of these questions.
THE COB (WEB)
Pressure builds on GST Balloon but CBEC continues to ...by SHAILENDRA KUMAR

Pressure builds on GST Balloon but CBEC continues to ...
Published: August 27, 2015

View previous 'The COB(Web)s'»
TIOL EDITORIAL
Govt should manage well both risks & benefits of fragile global environment by TIOL EDIT TEAM

Don't duck public accountability
Published: August 09, 2015

View previous Editorials»

ICE CUBES
by NARESH MINOCHA Flawed narrative on land acquisitions obfuscate growth & jobs agenda

Modi scales up billion dreams to Grand Illusion
Published: August 23, 2015

View previous ICE CUBEs »

GUEST COLUMN

Tax paid by mistake - Why bring Section 11B into picture? by MINCHU MARIAM PUNNOOSE

Tax paid by mistake - Why bring Section 11B into picture?
Published: August 28, 2015

View previous Guest Column(s);

ST se GST tak

Removing Negative Protection - Is GST only policy option?by V SIVASUBRAMANIAN & B SATHYAN

Removing Negative Protection - Is GST only policy option?
Published: August 24, 2015

View previous ST se GST tak(s)»

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

 
 
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