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Commerce Secretary says in-principle approval given to SEZs may be withdrawn if corporates do not come forward for their notification and develop the same within six months; China produces 5 mn tonnes steel last year and grabs no 1 position; Nath says EGoM on SEZ not to discuss sectoral cap; land acquisition to dominate discussion; E S L Narasimhan is new Governor of Chhattisgarh; PFC IPO : Price band fixed at Rs 73 to Rs 85; |
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| Dear Member, Sending you the following files: |
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2007-TIOL-19-ITAT-MUM.doc + deemed story.doc Common shareholders of two concerns with substantial interest thereof - Advance given to the assessee hit by provisions of section 2(22) (e) as deemed dividend income; Power of CIT (A) to admit additional evidence - Rule 46A outlines the scope and circumstances of adducing evidence - Since the documentary evidence was not produced before the AO and also the CIT (A) did not record the reasons for allowing production of additional evidence before him, documents are not admissible as evidence; |
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RLT case law headnote;
2007-TIOL-99-CESTAT-MUM.doc + eou story.doc Removal of goods from one EOU to another EOU - if warehouse certificates are not received, duty is to be paid by the consignor; No penalty imposable under Rule 173Q 1 (bbb) of the erstwhile Central Excise Rules, 1944, when duty paid consignment of C.R.Coils was not brought to the registered premises of the dealer only because of practical difficulties and was sold from the premises of cutters directly. Trade notice dated 16.10.99 dated 16.10.99 was issued to mitigate the difficulty.The procedural non-compliance cannot be held against them for denying the substantive benefit of the modvat facility; Duty paid prior to issuance of SCN - Penalty set aside - Case remanded in view of Punjab & Haryana HC decision (2006-TIOL-276-HC-P&H-CX) setting aside LB's decision in Machino Montell case; Scrap arising at job worker’s end & not returned to the supplier – issue no longer res integra - Provision for dutiability of waste and scrap existed only in Rule 57F of erstwhile Central Excise Rules, 1944 and there is no such provision in the Cenvat Credit Rules, 2001 - Duty not leviable under Section 3 of Central Excise Act, 1944; Branded goods cleared by availing concessional rate of duty under notification 8/2002 CE – contention that entire duty paid prior to issue of SCN no cause for non-imposition of penalty – P & H High Court decision in Machino Montell 2006-TIOL-276-HC-P&H-CX followed;
SERVICE TAX SECTION ST - Maintenance and repair service - Prior to June 16, 2005, any contract other than the maintenance contract not covered as per Board Circular - Revenue's appeal dismissed; ST on C & F Service - Demand based on Prabhat Zarda case - Assessee cits LB decision in L & T case (2006-TIOL-814-CESTAT-DEL-LB) - Stay granted;
CUSTOMS SECTION Imposition of penalty u/s 112(a) of Customs Act – ingredients of the section have to be satisfied – general observation no justification to impose penalty; |
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| Regards
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