Presidential award from CBEC : Are exceptions as important as the rules are?

THE Republic Day is only a couple of days away, and CBEC is frantically trying to finalise its list of Presidential awardees. Like every year, 2007 will also have any number between 32-35. To grant this award, the CBEC 'normally' follows certain guidelines. But an interesting consistency can also be seen in non-compliance with the same guidelines. Though it is an accepted practice and also humane to put the names of a couple of favourites even if they are not deserving. But even such cases do meet the basic conditions like 15 years of service, good work in the various intelligence slots and, of course, ACRs. However, 2007 may see some exceptional exceptions if the hectic political lobbying is anything to go by. There are certain prospective awardees who have not yet completed even 15 years but do want the medal, and mind it, they would get them also! 'Insiders' heard in the corridors of Congress party heavyweights that making exceptions is also a rule, and what is so great about making an exception about this medal? There is no harm in making exceptions except that the name of this award should be changed from 'Presidential' to anything like 'residential' or 'Inconsequential' but it should not be Presidential particularly when the the President has no direct role to play in the selection. Our President is an epitome of virtues, one of the finest human being and stickler for rules and norms. So, any violation of guidelines in his name would not be proper at all! Hope, CBEC bosses would understand it and will not let him down!

PM asks States to cooperate with MoF for investing a part of PF funds in stocks and bonds;

Delhi HC extends stay on BSNL GSM contract;

India finalises deal to buy US military transport planes;

Hillary Clinton takes lead for US Presidential poll;

Commerce Secretary says in-principle approval given to SEZs may be withdrawn if corporates do not come forward for their notification and develop the same within six months;

2007-TIOL-38-HC-DEL-IT.doc + 80hhc story.doc

Section 80 HHC - profit relates to only those items of income directly relatable to the business of export : Delhi HC;

2007-TIOL-37-HC-DEL-IT.doc

Assessee a partnership firm - Fails to file return - Notice issued - Even then return not filed - Prosecution launched u/s 276D - Since during the same AY an arbitration award was given by the court whereby the petitioners had nothing to do with the firm, it is not enough for the complainant Revenue just to mention the Section but also provide the manner in which the accused were responsible for the conduct of the business - Prosecution quashed;

2007-TIOL-36-HC-AHM-IT.doc

Business expenses disallowance under Sec 43B - Assessee collects excise duty but does not deposit with the exchequer because of a dispute - Such amount is to be disallowed u/s 43B ;

CENTRAL EXCISE SECTION

2007-TIOL-104-CESTAT-MUM-LB + lb story.doc

Credit available on LSHS (fuel) used in producing steam & electricity used in turn in relation to manufacture of exempted Fertilizers - Issue no longer res integra - HC decision in own case followed;

2007-TIOL-103-CESTAT-MUM.doc

No provision in the erstwhile C.E Rules, 1944 for reversal of credit on inputs used in the manufacture of final product when part of the product is cleared without payment of duty;

2007-TIOL-102-CESTAT-MUM.doc

Commissioner(A) dismissing appeal on ground of time bar – Remand order of Tribunal with a direction to decide appeal on merits itself amounts to condoning the delay, else remand order would not have been passed;

SERVICE TAX SECTION

2007-TIOL-100-CESTAT-DEL.doc

Cenvat Credit for Service Tax paid on GTO service for outward transportation of finished goods availed - Revenue denies it on ground of clearance beyond the place of removal (factory gate) - Total waiver from pre-deposit granted;

CUSTOMS SECTION

2007-TIOL-39-HC-MAD-CUS.doc + royalty cus story.doc

Customs - Valuation - Royalty paid for the right of reproduction and distribution of the feature film - includable in the transaction value - Rule 9(1)(c) of the Customs Valuation (DPIG) Rule 1988;

2007-TIOL-101-CESTAT-MUM.doc

Principle of unjust enrichment – Amendment to s.18 of Customs Act by the Taxation Laws Amendment Act, 2006 prescribes that exporters are required to show that they have not passed on the incidence of duty to any other person;

ddt 22 jan.doc

EOUs – Removal to contract farmers – bank guarantee not required for units in existence for more than two years;

budget story.doc

Linking the Indirect to the Direct - the Service Tax way!!

guest.doc

The Great Indian SEZ Drama!

cbuzz0676.doc

Nicholas Piramal joins hands with Napo Pharma;

cbuzz0675.doc

Wockhardt to market skin gel; Pratibha Ind to work for AAI;

cbuzz0674.doc

Engineering sector tops merchandise exports chart;