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NCERT is for no exam system for even Class X students; Bill Gates says next big success in software section will come from Asia; India, Algeria to strengthen cooperation in oil sector; Higher number of SEZs imperative to boost industrialisation and exports : Kamal Nath Aviation Ministry caps Delhi and Mumbai flights for the summer schedule; RBI may impose fee on paper cheque payments; SC issues notice to Jet and Thomas Cook among others on AAI's plea; PMs direction to expedite work on POSCO disappoints CPI; |
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| Dear Member, Sending you the following files: |
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Transfer of assessment from one place to another u/s 127 - Assessee opposes for lack of valid grounds - Since such a transfer is not a material violation of the assessee's rights and the Revenue has stated recorded reasons for such a decision, no principle of natural justice violated - Assessee's petition dismissed : Allahabad HC; Assessee is into the business of manufacturing pipes - For laying a service line for supplying electricity it paid a lumpsum amount to the State Electricity Board - Since the cables laid did not belong to the assessee and it was a one-time payment for facilitating regular business of the assessee such an expenditure is revenue in nature - Revenue appeal dismissed for lack of substantial question of law : Delhi HC; |
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2007-TIOL-528-CESTAT-MUM.doc + excise cestat story.doc Liability of a firm and partner is joint and several - A ground cannot be taken that since property of other partners has not been attached, the order is perverse; Interest on delayed refund – when refund order is made by Appellate Tribunal, interest is payable after expiry of 3 months from date of issue of order; 2007-TIOL-524-CESTAT-AHM.doc + aed story.doc In respect of goods exported, refund of accumulated credit of AED (T & TA) can be allowed in terms of Rule 5 of Cenvat Credit Rules even if there is a restriction about their usage for payment of other duties for domestic clearance :Cestat; Central Excise - CENVAT Credit - Credit is entitled in respect of inputs and capital goods used out side the factory in respect of power project located out side the factory and the power totally consumed and transferred to the assessee's factory :Cestat; Central Excise - Demand - The scrap which was generated in job worker's premises was cleaned by job worker on payment of duty. Demands cannot be raised for such scrap on the principal manufacturer who has sent the inputs for conversion :Cestat;
SERVICE TAX SECTION Service tax with interest paid before issue of SCN and also before the closure of Amnesty Scheme - Since the assessee was registered before the introduction of the Amnesty Scheme, waiver of penalty not available to him - However, lower penalty would meet the ends of justice; Transportation of fly ash is not C&F Agent service - stay granted :Cestat;
CUSTOMS SECTION DGFT Amends SION for a couple of chemical products; Customs Imports - The Certificate of independent Chartered Engineer cannot be disbelieved - RF reduced - Penalty reduced; |
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CBEC to hire agency to interact with taxpayers and give feedback on its services; India loses USD 19 bn due to gender discrimination : UN Survey; Overseas Direct Investment - RBI Issues Instructions; Reporting under FDI Scheme - RBI revises GPR Form; ITDC inks deal with Spanish co; Eveready enters agreement with Phoenix India; Cadila receives another FDA approval; M&M comes out with aslew of SUVs to be sold in American market; Gujarat Ambuja profits rise to 43%; |
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