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India, Turkey and USA top the list in levying anti-dumping duty against China; Standing Committee on Finance calls for removal of floor limit on SLR but retention of upper limit at 40%; MoC supports Bharti-Walmart deal in retail sector; Justice M D Shah appointed as Addl Judge of Gujarat HC; |
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| Dear Member, Sending you the following files: |
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2007-TIOL-12-ITAT-MUM.doc + srk story.doc Search & Seizure - Many authorisations issued on different dates - Limitation to be calculated from the date of execution of last authorisation - Assessment order passed u/s.158BC was barred by time limitation and therefore quashed; Even though the power of reference has been exercised u/s 131 and section 142A does not refer to section 131, still section 142A shall operate since it has retrospective operation; Interest u/s 234B - AO fails to order charge of interest in assessment order - AO directed to issue speaking order to do the same; |
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No information for five years – Revenue appeal dismissed; 2007-TIOL-76-CESTAT-MUM.doc + manisha story.doc When original dispute stands settled in favour of Respondent's by Tribunal's decision, re-credit can be taken - no need for a formal permission or sanction - Revenue's appeal rejected; Are cylinder detention charges includible in assessable value - Pre-deposit waived off in view of LB decision in Grasim Industries 2004-TIOL-15-CESTAT-DEL; Assessee manufacturers tools / dies for another manufacturer - Cost includes its margin of profits - Calculation of cost for amortisation - Cost at the hand of principal manufacturer to be taken into account for arriving at AV and no further margin of profit of the principal manufacturer to be added to the value of dies and tools;
SERVICE TAX SECTION Commission agent not covered under C & F Service; Service Tax – Mandap keeper – Donation received against services provided is taxable, however, donation independent of services rendered is not – Pre-deposit ordered;
CUSTOMS SECTION It is well settled legal principle that to show clandestine removal, the department must be able to show the delivery of the said goods, transport and discharge thereof, storage bills, entries with other statutory authorities like Octroi naka, names of buyers of the said goods and the receipt of the sale proceeds by the Appellants; |
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Saga of a government appeal – unfortunate, to say the least; Mr PC, let there be a hike in TDS rates but must remove FBT! Dear PM, let foreign universities come to India without UGC strings; 9th story.doc + 2007-TIOL-05-SC-Constitution-LB.doc Laws placed in 9 th Schedule is subject to judicial scrutiny; SEBI amends Mutual Fund Regulations for valuation norms for gold; Will Petrotech-2007 answer the rising prices query; SEBI outlines its agenda for the year; TCS to provide outsourcing solutions to Ecuador's Banco Pichincha; Empower Indus launches power electronics products; ABB bags Rs 186 Cr order from KPTCL; Tata
Steel to acquire 100% stake in Rawmet Ferrous Industries; |
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| Regards
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