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FM to inaugurate Income Tax video-conferencing facility and address CCITs tomorrow; Health Ministry proposes amendment in Drugs & Cosmetics Act for registration of imported cosmetic products; Tejinder khanna sworn in as new LG of Delhi; SEBI keen to introduce circuit filters on debut day for re-listing scrips; Air India's Delhi-Bangkok flight gets damaged in emergency landing; Birla Soft bags full computerisation project of DDA; External Affairs Minister Pranab Mukherjee seriously injured in a Road Mishap in West Bengal; to be flown to Delhi for further treatment; |
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| Dear Member, Sending you the following files: |
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2007-TIOL-49-SC-IT.doc + sc it story Manufacture of liquor and arrack bottling - Assessee fails to comply with bottling norms laid down by State Excise authorities - Penalty paid for violation - AO disallows deduction for the penalty and holds even if deductible it was not allowable u/s 43B as not paid during the AY - Tribunal and HC disagree - Since the payment was not in the nature of additional levy, the mischief of Sec 43B not attracted: SC; Bogus purchases and bills - Additions made and penalty u/s 271 imposed - Assessee through its representative admits it and agrees to the levy of penalty - 'Admission' under Secs 17 & 18 of the Indian Evidence Act is a self-harming statement and once it is admitted, penalty is justified - Appeal dismissed: HC; Search u/s 132 - Additions made for unexplained loans and interests earned thereon - CIT (A) and Tribunal delete addition, holding that it cannot be made on basis of unsubstantiated handwritten notes - Revenue bases its evidence on recorded statement of the assessee's daughter - It is settled law that the only person competent to give evidence on the truthfulness of such document is the writer himelf but since he was neither confronted by the AO nor allowed to cross-examine his daughter, Revenue's case not sustainable: HC; Unexplained investments - Addition made u/s 69 for excess jewellery sold - Capital gains imposed on sale consideration of jewellery disposed of for meeting financial commitments - Given that the tribunal did not find any material to show that the assessee had again purchased the jewellery back, there is no need to disturb the facts-based findings of the tribunal - No question of law involved : HC; |
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2007-TIOL-464-CESTAT-MUM.doc + clandestine story.doc In cases of admitted clandestine removals involving mens rea on the part of the assessee, whether penalty is to be imposed when duty has already been paid before issuance of show cause notice - Matter referred to Larger Bench to remove confusion; Different assessees, otherwise similarly placed, cannot be put to different treatments on the basis of their location - Extending benefit of Machino montell courtesy Bombay HC decision in Gaurav Mercantiles by holding that both assessee & bench situated within its jurisdiction is bound to create confusion - different orders in respect of different assessees not desirable as the levy is a Central tax : Cestat; Duty paid on Cable Jointing Kits - Even if the process carried out does not amount to manufacture, Credit is admissible on inputs: Cestat; Export against UT-1/Bond without payment of duty instead of rule 18 resulting in accumulation of credit - no alternative but to refund in cash - issue squarely covered by Tribunal decision in Navbharat Industries: Cestat; Credit taken on assembled wheel cover and excess credit taken and credit taken on invoices issued under Rule 173H - Demand confirmed and penalty imposed - Since the issue was decided in favour of Revenue by the Tribunal in the assessee's own case, penalty is imposable: Cestat;
SERVICE TAX SECTION Service Tax - Appellant is a Production House engaged in activity of shooting films and making masters and/or copies of tape for use by advertising agencies / advertisers - Services correctly classifiable under the entry "Video Production Services" w.e.f 16.7.01 & not as "Advertising agency"; Limitation - Demand time barred as there is another scn issued in the year 1999 alleging that the activity was manufacture & leviable to Excise duty - Later s.11C notification issued & partial relief granted - Facts well within the knowledge of the department: Cestat; Service Tax - The promotion of sales abroad and marketing in India cannot be brought within the ambit of C & F Agent services: Cestat;
CUSTOMS SECTION 2007-TIOL-50-SC-CUS.doc + rolls royce story.doc Import of high value second-hand car - Rejection of transaction value - Commissioner (A) allows 50% depreciation - Tribunal sets aside order and upholds original depreciation allowed by the Revenue - Deprecation for the post importation period is not allowed under the Customs Act - Assessee's appeal dismissed:SC; |
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ddt 9 apr.doc + 2007-HRIOL-03-CIC.doc Once the unfairness of a decision is established, the victim of such decision is entitled to know as to who all participated in its making - Central Excise officer wins case against vigilance in CIC Cement exemption - government clarifies; Kalam wants Infosys Narayana Murthy to be President; Murthy wants Kalam to continue; Is Gujarat Govt legally empowered to levy stamp duty on imports? Providing no service is also service and may be taxed in future : CBEC official; Ayush to provide safety data on herbal drugs; Lenovo and Sasken join hands for featured phones; Microsoft gets hard on google talk and Yahoo, plans to launch Windows live messenger; JB Group mulls over huge expansion in India; Reliance demands international prices for its cooking gas; Adhunik Metaliks acquires Orissa Manganese; BSNL plays tough and competes well with private players; Royal Palms plans SEZ in Mumbai; |
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