|
 |
 |
 |
 |
 |
Nasscom plans to set up Rs 100 Cr fund for innovation; Petro Secy says SKO marking to reduce adulteration of petro products; Sahar Airport Customs arrests Dubai-bound pax with dollars and Dirhams worth about Rs 22 lakh; Germany keen on bilateral tie-up with India on IPRs; HRD Minister finally welcomes 100% FDI in education sector; |
 |
|
 |
 |
 |
|
| Dear Member, Sending you the following files: |
||
| |
 |
 |
|
|
|
2007-TIOL-32-ITAT-MUM.doc + mumbai it story.doc Income to be computed with regard to the transaction, not its volume - Though res judicata is not applicable to Income Tax cases, a decision taken for one year's assessment should be applicable for subsequent years: ITAT; Interest earned on advances given to Members of Cooperative Society - Deduction u/s 80P(2)(d) cannot be denied : ITAT; Penalty u/s 271(1)(c) not leviable when the assessment does not show any taxable income, but only net loss: Madras HC; |
|
|
| |
|
|
|
| |
 |
 |
|
|
|
2007-TIOL-174-CESTAT-MUM.doc + interest story.doc Once stay order has been extended, there accrues a right to the appellants to claim refund of the amount paid by them either under coercion or voluntarily, moreover, demands set aside in appeal - Amount to be refunded along with appropriate rate of interest i.e 6% per annum; Central Excise – Valuation – Duty payment made trough supplementary invoices due to price validation change dues not call for in position of interest;
SERVICE TAX SECTION 2007-TIOL-175-CESTAT-BANG.doc + st story.doc Service Tax – Security Agency – In guise of rectification of mistake, entire complexion of the order cannot be altered under section 74 of the Finance Act;
CUSTOMS SECTION Adjudicator appointed for M/s Sai Sradha Exim Pvt Ltd; CC, Kolkata appointed as adjudicator for M/s Garment Craft case; Import of machinery under EPCG Scheme - Default in fulfilling exports obligations - Confiscation u/s 111(o) - Assessee pleads since machinery is attached to earth it cannot be confiscated - Since there is no evidence as to whether detachment would lead to substantial damage to the machinery, petition dismissed : Delhi HC; Customs – classification & exemption – Betel nuts are covered by the expression areca nuts and entitled for benefit of Notification 69/2004 – Cus; Customs – Imports – Classification and exemption – Nickel Alloy Bars imported merit classification under sub-heading 7505 12 10 of the Customs Tariff – Eligible for concessional rate of duty under the notification; |
|
|
| |
|
|
|
| |
 |
 |
|
|
|
ddt 7 feb.doc + jt dgft tn.doc Is Budget relevant? Export under DFIA – No Cenvat - JDFT clarifies; Service Tax - Hire purchase and hire purchase financing - Change gears else Revenue may lose its pound of flesh; Posthumously yours... 2007-TIOL-14-SC-CT.doc + sc ct story.doc Condonation of delay of 157 days - In view of the provisions of Sec 52(2) of the FERA Act which even excludes the application of Limitation Act 1963, delay of more than 90 days cannot be condoned by the tribunal; NHPC looking for Director (Finance); NRE deposits : RBI caps interest rate to LIBOR rate for 1-3 years' maturity; Two Technical Officer appointed in CBEC; Bajaj pounces on the copycat of its highest earner; Noida gets Birlasoft's global headquarter; ICICI raises loan rates; Praful Patel is the Tourism Person of 2006; |
|
|
| |
|
|
|
| Regards
Taxindiaonline.com Pvt. Ltd. |
