|
 |
 |
 |
 |
 |
China gets foothold in Africa; launches economic and trade zone in Zambia; Laloo for more Garib Raths and more AC trains; Takeover bug bites PSUs also; SAIL may bid for overseas firms: Paswan; India stakes claim for non-permanent seat in Security Council; |
 |
|
 |
 |
 |
|
| Dear Member, Sending you the following files: |
||
| |
 |
 |
|
|
|
2007-TIOL-69-HC-MUM-IT-LB.doc + mumbai lb story.doc Revenue appeal with a delay of 11 days filed - Assessee pleads Sec 5 of Limitation Act does not apply to an appeal filed u/s 260A - Sec 260A is not a complete code in itself and specifically refers to applicability of Civil Procedure code - Had this been the intention of the legislature it would have been clearly provided for - But what is obvious need not be stated and, therefore, legislature might have thought it fit not to express specifically about the power of the high court to condone the delay: Mumbai HC Larger Bench; Assessee takes loans of more than Rs 20,000 in cash on multiple occasions to meet business exigency - Violation of Sec 269 SS - Penalty u/s 271D imposed - Tribunal accepts assessee's plea that there was reasonable cause for doing so and sets aside the penalty - Since loans taken were duly reflected in the bank account of the assessee and also creditors, no interference with the tribunal's order called for : Madras HC; Assessee is a partnership firm - Return filed for the first time for AY 1981-82 - Interest charged u/s 139(8) for late filing - Assessee claims original return filed in 1981 and it was only revised return - ITO finds false records - Complaint u/s 277/278 initiated - Summons issued - Writ filed after 20 years to challenge the summons - It is gross abuse of judicial process and a delaying tactic - Even if the assessee is bailed out u/s 277 as interest is different from tax, proceedings under Sections 193 and 196 of the IPC to continue: Delhi HC; |
|
|
| |
|
|
|
| |
 |
 |
|
|
|
2007-TIOL-12-SC-CX.doc + sc story.doc Binding nature of Board Circulars - Supreme Court decision binding - no need to refer to Larger Bench: SC; Valuation of Physician Samples – Following LB decision in Blue Cross, adopting the provision of Rule 6(b)(i) of Valuation Rules is correct – oral submission that adjustment is required under proviso to rule made for the first time – it is clear from findings of the AC that requirement of proviso has already been considered by him – appeal rejected; Credit cannot be allowed in respect of Fuel used in generation of steam which is used in canteen for cleaning utensils as by no stretch of imagination can it be said to have been used in or in relation to manufacture of final product; Penalty of Rs.1000/- imposed in respect of irregular availment of Rs.951/- not justifiable, hence set aside; Once an order passed by the Tribunal becomes final having not been appealed against before higher appellate forum, fresh appeal against same order not entertainable – Revenue appeal rejected;
SERVICE TAX SECTION 2007-TIOL-165-CESTAT-MUM.doc + st story.doc Service Tax - Refund of Service Tax erroneously paid - In case of mutual mistake committed by the Appellant and the Department, Section 17 of the Limitation Act applies & not s.11B of the CEA'44 - Matter remanded by Tribunal;
CUSTOMS SECTION Appointment of a person by a CHA to attend to Customs House work is to be made only after obtaining the approval of the DC/AC designated by the Commissioner – Rule 19(2) of CHALR 2004 – forfeiture of security deposit upon violation legally proper; |
|
|
| |
|
|
|
| |
 |
 |
|
|
|
Withdrawing Cenvat Credit and monthly payment facility – Super-fast Board; Phir Subah Hogi - aur Budget bhi!! What Azadi Bachao syas about Treaty-Shopping or Round Tripping? Filling up of the posts of Assistant Directors in ED; New Guidelines on Packaged commodities Rules; NTT Amendment Ordinance 2007.doc National Tax Tribunal (Amendment) Ordinance, 2007; Subex Azure comes out with innovation; Entertainment tax exemption for a multiplex;
Infotech to commence operations in Kakinada; Micro Technologies
enters Turkish market; |
|
|
| |
|
|
|
| Regards
Taxindiaonline.com Pvt. Ltd. |
