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CBDT internal panel to suggest how to make use of data collected through levy of STT; FIPB asks for greater details of Vodafone deal; Approval delayed; ICEGATE problem : CBEC claims export-import shipments stabilise at Delhi Air Cargo Customs; PM says Govt willing to fund urdu education; IOCL aims at Rs 900 Cr LPG business by 2011; FDI touches USD 15 bn-mark last fiscal; India targets USD 25 bn; FM proposes, PNB disposes; First bank to launch reverse mortgage scheme; DGFT finally allows import of motorcycles of engine capacity 800 CC or above with Euro III emission norms; Govt says no move to allow import of natural rubber from Thailand; |
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| Dear Member, Sending you the following files: |
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CBDT issues transfer order of one CIT + one Addl CIT; Assessee is a registered society - Makes investment in a cooperative bank but does not disclose so in return - Proceedings u/s 147 initiated - Assessee claims exemption based on concept of mutuality - For AY 1996-97 and 1998-99 income is exempt on mutuality ground and for later period deduction is allowable u/s 80P for interest or dividend earned from investment in a cooperative bank; |
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2007-TIOL-489-CESTAT-AHM.doc + sez story.doc Exemption notification 03/2001 dated 01.03.2001 as amended, not applicable to SEZ units:Cestat; Removal of excess quantity than the quantity shown in the invoice - duty demand and penalty confirmed; Refund - Duty paid for Education Cess from Cenvat Credit Account of BED - Revenue for reversal of amount of duty on the ground that education cess not admissible under Notification 56/2002-CE - Issue no longer res integra as decided in favour of the assessee's own case - Assessee's appeal upheld; Denial of Cenvat credit on copper and aluminum wire used in the manufacture of insulated cables as contended by revenue is not correct - appeal dismissed :Cestat; Central Excise - Refund - The customer refused to pay the higher duty paid by mistake by appellant - The assessee has proved that he has borne the higher duty which was paid by mistake - Entitled for refund :Cestat;
SERVICE TAX SECTION ST - C & F Service - Commission received for procurement of order for the Principal not liable to tax; Service Tax - Clearing & Forwarding Agent - Elements which are not forming part of taxable services other than receipt of commission cannot be brought within the ambit of Service Tax :Cestat;
CUSTOMS SECTION 2007-TIOL-58-SC-Cofeposa.doc + cofeposa story.doc Cofeposa - Appellant cannot be put in a worse condition for preferring an appeal; Calcium Nitrate correctly classifiable under heading 2834.29 which covers different types of nitrates & not as chemical fertilizers under heading 3105.90 of CTA, 1975 in view of chapter note 1(b) to Chapter 31; |
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WTO says market insecurity and trade imbalances to slow down growth in 2007; Japan to fund Delhi-Mumbai Industrial Corridor; Project may require USD 50 bn; LML to resume production; B'desh to decide Tata proposal soon; |
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| Regards Taxindiaonline.com Pvt. Ltd. |
