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Only new and revised passport form to be accepted from today; Satyananda Mishra of MP cadre (1973 batch) takes over new Secy, DoP&T; Fire in Essar's Jamnagar oil plant kills 4, 20 get injured; TCS heads the list of 10 best service providing companies; |
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| Dear Member, Sending you the following files: |
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2007-TIOL-62-HC-ALL-IT.doc + vijay story.doc Eligible deductions cannot be disallowed in "best judgement assessment" cases : Allahabad HC; Cash transactions - Sec 40A(3) invoked - Assessee pleads given the nature of its business and regular dealing with agriculturists it has to make payments in cash - Tribunal denies benefits of R 6DD - Order upheld : Karnataka HC; Assessee company signs agreement with the son of the Group Company Chairman for sponsoring his overseas training programme - Unsecured loans taken and paid for overseas course - Deduction disallowed as AO terms it as personal expenditure - Since facts culled by lower authorities prove that such an expenditure was not required for the business of the company and the agreement was made only to give colour of commercial expediency, deduction was rightly denied : Madras HC; |
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2007-TIOL-64-HC-DEL-CX.doc + settlement story.doc Settlement Commission - Returns can be filed even after application : Delhi HC; Excise duty - Provisional assessment finalised - Recovery of dues - Steps taken to encash BG - Writ filed for stay - High-handed action on part of Revenue may eliminate remedy available to the assessee under Sec 35F - Revenue's direction quashed : Mumbai HC; 2007-TIOL-149-CESTAT-MUM.doc + credit story .doc Although a factory includes a part of a factory, the converse is not true - Transfer of Cenvat credit upon shifting of spinning plant to Dhammi from Dadar not permissible as Rule 8 of Cenvat Credit Rules, 2002 refers to shifting of factory and not a part of factory - Tribunal. Revenue appeals allowed; Dues pending against the company – Suspension of registration valid;
SERVICE TAX SECTION 2006-TIOL-63-HC-P&H-ST.doc + mso story.doc Multi System operator is liable to pay Service Tax : Punjab & Chandigarh HC; Photography service - cost of materials - In view of existence of alternative remedies, Court not to interfere at the stage of show cause notice : Punjab & Chandigarh HC; Service Tax – The details filed under Income Tax Returns are different from the Service Tax returns - Service Tax is required to be calculated on total receipts and not on the amount still due from the customers - appeal is allowed;
CUSTOMS SECTION Customs - Valuation - transaction value should constitute the assessable value, except in cases mentioned in Rule 4 of Customs Valuation Rules - Enhancement of the price is not sustainable as the commercial nature of the import price remains substantiated; Import of 'pista' from Afghanisatan - Certificate for rules of origin submitted - Exemption under Not 76/2003 availed - Authencity of rules of origin certificate doubted - Customs COIN confirmed veracity of supplier in the same trade - Since assessing officer had examined the consignment and satisfied himself about the description of goods, there is no doubt left to doubt the correctness of the certificate; |
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| Regards
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