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Aman Kumar Singh, an IRS and JS, Information Technology & Biotechnology, Chhattisgarh Govt, gets e-Gov Champion Award for Eastern Region of India; FTA : EU says no to Pakistan; Two drivers of Mumbai Airport Customs put under suspension after being caught, outside airport, carrying 66 bottles of Scotch in office vehicle; Cabinet approves Entry of Foreign Educational Institutions Bill + okays merger of Air India and Indian Airlines +amendment in Motor Vehicles Act; MoF to initiate dialogue with States for common tax structure; |
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| Dear Member, Sending you the following files: |
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Second Amendment Rules - Investment by buying equity shares of an incubatee by an incubator; 2007-TIOL-55-ITAT-MUM.doc + mukta story.doc Expenses incurred during the production of the movie for lodging/boarding, muhurat expenses etc and claimed as deduction under cost of production u/r 9A disallowed; Section 10B - Requirement for filing the declaration under Sec 10B(7) is only directory in nature and not mandatory - If filed during the assessment proceedings it would be sufficient compliance with the provisions; Sec 80HHC - Tribunal goes by jurisdictional High Court's order that Sec 80HHC is a complete code in itself - Later SC gave Sec 80AB an overriding effect over all other Sections in Chapter VI-A - Revenue in appeal to rectify the mistake apparent - Since SC's decision as per Article 141 is binding on all courts there is an error in interpretation of law and must be corrected - Even Sec 254(2) allows four years time frame to rectify an error if that comes to notice later; |
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Adjudicating authority has discretion to impose lesser penalty u/r 25 r/w s.11AC when assessee had paid the duty well in advance of the SCN – Penalty imposed set aside following Bombay HC decision in Gaurav Mercantiles Ltd; S.4 of the CEA’44 – Cash discount is admissible irrespective of whether each customer avails of said discount or not – issue no longer res integra – HC decision in Goodlass Nerolac & H&R Johnson followed;
SERVICE TAX SECTION ST - Cable Operator - Demand raised for non-payment - Penalty also imposed - Assessee claims since Amnesty Scheme of the Board was in force during that time, no penalty can be imposed - Since case was detected by the Revenue and tax was paid after SCN was issued, it is a fit case of levy of penalty;
CUSTOMS SECTION 2007-TIOL-26-SC-CUS.doc + sc cus story.doc Customs Exemption to hospitals - If benefit is eligible under two categories, failure in one category does not mean ineligibility in the other category; Since primary function of vessel is that of accommodation of personnel & its navigability is subsidiary, Accommodation Barge is correctly classifiable under Customs Tariff 89.05 & not under 89.01; |
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| Regards
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