Taxindiaonline.com - Daily Mail Update
 
2007-TIOL-NEWS-065
Sunday, March 18, 2007
 
News Flash

Bankers threaten to strike work - Income Tax Department asks taxpayers to pay taxes in advance;

Company Affairs Minister urges FM to put LLP firms at par with global norms for taxation;

FIPB to discuss Vodafone application in coming week;

EU okays separate panel for better trade ties with India;

Kenya opts for volte face on phone licence to Reliance Communications;

Nath once again reiterates Govt committed to SEZs;

Jaipal Reddy for levying high charges on conversion of land from agriculture to non-agriculture to fund welfare activities;

Western Coalfields along with four others accorded with 'Mini Ratna' status;

CBI raids former Income Tax DG (Inv) of Pune, an IRS officer of 1971 batch on corruption charges; 12 premises in Mumbai and Pune searched and substantial investment details allegedly found;

SEZ conference on March 21 : Agri Ministry says it's not supporting event and initiates action for unauthorised use of name;

     
 

Dear Member,

Sending you the following files:

 
     
Direct Tax Basket

2007-TIOL-125-HC-P&H-IT.doc

Just because a second opinion is possible on the same set of facts powers u/s 263 cannot be invoked;

2007-TIOL-126-HC-MAD-IT.doc

Self-assessment tax paid u/s 140A to be treated as amount paid against an order of assessment for computing interest u/s 244(1A) of the Act;

 
Indirect Tax Basket

cbecorders80.doc

Coimbatore's addl charge to Bangalore CC + OSD to Member (L & J);

rlt079-Part2.pdf + rlt079-Part2.pdf

Headnotes of latest RLT case laws;

 

CENTRAL EXCISE SECTION

2007-TIOL-352-CESTAT-DEL.doc + limestone story.doc

SC ruling in Birla Corporation has to be seen as a secular ruling - Credit is available in respect of lubricating oil used in dumpers used for transporting limestone from mines to cement factory;

2007-TIOL-350-CESTAT-BANG .doc

Central Excise - Refund - Interest - In view of the settled decisions, interest and interest on interest allowed;

2007-TIOL-349-CESTAT-DEL.doc + trademark story.doc

Trademark of company registered with effect from back date and this evidence in favour of the appellant is not disputed - During the period covered by the show cause notice the trade mark stood registered in the name of the appellant - It cannot therefore be said that the appellant was manufacturing goods in the name of brand name owned by any other person;

2007-TIOL-348-CESTAT-DEL.doc

Fortnightly facility of payment of duty – since in one case the due date fell on a Sunday, the payment was made on the next working day & the in another case, the bank had accepted the payment on 31st March but accounted the same on 2nd April, appellant cannot have said to have defaulted for more than three times – forfeiture order set aside;

 

SERVICE TAX SECTION

2007-TIOL-346-CESTAT-DEL.doc

ST - Warehousing service - Is supervision charges includible in value of cargo handling charge for service tax? - Stay granted ;

 

CUSTOMS SECTION

2007-TIOL-351-CESTAT-MAD.doc

Customs - Appeal- An application for rectification cannot be maintained against an interim order;

2007-TIOL-347-CESTAT-MAD.doc

EOU - When duty demand is not sustainable, imposing of penalty and confiscation of goods does not arise ;

 
Common Basket

budget story.doc

Expenditure budget estimates surge by more than 17 percent in the present budget;

oecd story.doc

Farm subsidy : Third World Bloc gets support from OECD; Govt support to farm in major emerging markets lower than average of OECD countries;

cbuzz0856.doc

Assocham seeks consensus on GST through national conference ;

cbuzz0855.doc

Cadila acquires stake in Live Healthcare; DIAL to work for passengers' comfort ;

cbuzz0854.doc

Parsvanath starts operations in Gujarat; Simon Carves to construct UK's First World Scale Bio-ethanol Plant;

     
 

Regards
Customercare Executive

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