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Mumbai Chief Commissioner of Central Excise Ms Prem V P Singh retires today; Mr V N Kaila to take over as CGA tomorrow; CBI files charge-sheet against 1983 batch IPS officer of Manipur-Tripura cadre for amssing wealth in Hyderabad; RBI hikes repo rate to 7.75 and new hiked CRR to be effective from April 14; |
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| Dear Member, Sending you the following files and also want to inform you that despite best efforts of the officials North Block could not make CST Notification available today as the gazetted copies are yet to be made available to them. In case it is made available tonight or tomorrow we will be as usual prompt to send the same to you. |
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Order under section 119(1) of Income-tax Act, 1961; Four promoted as CCITs; 3 CITs transferred; Deduction claimed for expenses incurred prior to formation of the firm - AO disallows the same on ground that the expenses did not relate to the AY - Since the expenses were related to business and there was no receipt against which any set off could have been claimed, the same had to be carried forward - Tribunal order upheld : HC; |
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rlt079-Part3.pdf + rlt079-Part4.pdf + rlt079-Part5.pdf RLT Case Laws Headnotes; 2007-TIOL-420-CESTAT-BANG.doc + 37B story.doc Central Excise - Appeal - Circular issued under Section 37 B of the Central Excise Act is binding on authorities including Commissioner (Appeals) - Not following is judicial indiscipline : Cestat; Availment of modvat credit – strained relation between CHA and assessee – purported letter admitting diversion of goods - a closer scrutiny of the letter indicates that the matter has been typed on a pre-signed letter head – no independent corroborative evidence that imported scrap diverted to another unit – benefit of doubt to be extended – credit allowed : Cestat; Rejection of refund claim on the ground of unjust enrichment - unit was working under compounded levy scheme and the invoices indicated central excise duty was leviable under compounded levy scheme - rejection of refund upheld : Cestat; SERVICE TAX SECTION ST - Air Travel Agency - Tax and interest paid before issue of SCN - No penalty leviable : Cestat;
CUSTOMS SECTION Clearance of livestock and livestock products; 2007-TIOL-419-CESTAT-MAD.doc + cha.doc CHA – Function Commissioner of Customs as envisaged under Regulation 9(2) is a quasi-judicial one and has to be discharged accordingly – A quasi-judicial authority cannot delegate its function to a subordinate authority : Cestat; |
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The 'helpless' Ministry of Finance leaves the CST taxpayers vulnerable ! HC JUDGES TRANSFERRED; ADDITIONAL JUDGES APPOINTED; RBI Announces Monetary Measures; Taxation Laws (Amendment) Act, 2007; ONGC's project gets Alliance, National Insurance cover; Audco India conferred award by DSIR; Tata buys stake in Indonesian coal companies; Actis acquires stake in Phoenix Lamps; ONGC among others gets listed in Forbes; Lamborghini to launch its latest model soon; Boeing gets land to build MRO facility in Mumbai; Punjab National Bank raises interest rate on real estate loans; |
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