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An 'invisible' Customs officer turns into a real (ty) 'boom buster'! THERE
is
a real boom in the realty sector. So was the case among the officers
of Customs and Excise till other day! With official accommodation
being scarce, some of these officers of all ranks found it wiser
to get their uncared allotments of flats in Delhi and Noida repaired
to an extent. Then came a hurricane news that one of the senior
Customs officers has put on duty a private agency to capture in
camera the repair work or renovation or interior decoration being
carried out in the flats / houses of the departmental officers.
Stop Press ! was the reaction in chorus from the officers! Contractors
were asked to reassemble only after the 'invisible' ghost visibly
retires late next year! What a dampener for PC's bouyant economy!
Will PC resort to exorcism? Earlier he does would be better! |
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CBDT says Feb 23 is last date to surrender duplicate PAN cards; WB gives clean chit to Baglihar Power Project on Chenab; CBDT JS (Admn) Pradeep Sen, 1982 batch IAS, relieved from today Customs and Excise mop-up grows by 17% till January-end; Deora says cut in petro prices possible only after excise duty cut; |
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| Dear Member, Sending you the following files: |
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2007-TIOL-38-ITAT-MUM.doc + itat story.doc For a gift to be accepted as genuine AO must verify identity, creditworthiness and financial prowess of donor - CIT decision to invoke Sec 263 upheld; Assessee spends huge sum on renovation and beautification of leased premises - Treats it as revenue expenditure - AO finds assets created of enduring nature - CIT(A) deletes disallowance - Since expenditure offered assessee fresh advantage which could not be derived from the leased premises in its original condition, it is to be treated as capital expenditure and depreciation to be allowed u/s 32(1); AY 1989-90 - Re-opening of assessments u/s 147 - Sole ground to do so was the Apex Court decision in a case that interest paid on purchase of securities is not revenue expenditure - Assessment completed u/s 143(3) cannot be reopened after expiry of four years provided no failure for disclosure of full facts attributed to the assessee; |
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CBDT JS (Admn) relieved; CBEC transfer one AC; RLT Case laws headnote;
2007-TIOL-203-CESTAT-BANG.doc + excise story.doc Central Excise – Excisability and Marketability – The goods which are not marketable and not satisfying the requirements for marketability cannot be considered as excisable goods; Confiscation of property set aside by Tribunal – Property transferred to respondents as per Deed of Assignment & certificate of sale of Immovable property as they were highest bidder in auction conducted by DRT – said premises correctly ordered to be included in registration certificate by Commissioner(A) – Revenue appeal rejected; Appellant company sick & registered with BIFR – no production activity, no staff and Director engaged in BIFR legal proceedings, labour disputes, MSEB recovery suits, DRT matters – delay of 457 days condoned as appellant was prevented from sufficient cause in filing appeal.;
SERVICE TAX SECTION Service Tax – Chartered Accountant – Billing of electricity and other related work for MESCOM cannot be considered as activities associated with Chartered Accountant’s services – Stay granted;
CUSTOMS SECTION CBEC amends constitution of Chief Commissioners panel for review of Customs cases; Prohibits exports of skimmed milk; Prohibits exports of certain types of hybrid wheat; 2007-TIOL-81-HC-MAD-CUS.doc + madras hc story.doc Para 2(a) and (c) of Notification No. 31/99-Cus stayed; Fraudulent Exports – statement of defence witness that employer for whom he was working did not have a CHA licence & that he was using licence of the noticee on payment of monthly sums is sufficient to prove subletting of licence – Permanent revocation of licencee too harsh a punishment as it will deprive CHA of his livelihood – Appeal partly allowed; |
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Import of maize (corn) – restriction removed; Customs & Excise collections all set to cross Rs two lakh Crores! Dear FM, Please consider one more KVSS-like Scheme at least for Service Tax cases; Target inflation in a holistic fashion in Budget 2007; 2007-TIOL-19-SC-CT.doc + sc ct story.doc UP Sales Tax - mounting of the body of the Auto Rickshaw on the Chassis would amount to 'manufacture'; A 'bonding day' for MoF; Oil bonds and FCI Special bonds issued; Insurance Cos may relish it! Ranbaxy Laboratories launches Atorvastatin in Denmark; TCS launches JV in China; Pyramid Saimira enters Malaysia Entertainment industry; Subex to devote services for South African telecom operator; |
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| Regards
Taxindiaonline.com Pvt. Ltd. |
