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Dr D Subba Rao, AP cadre IAS of 1972 batch, is the New Secretary of Deptt of Economic Affairs; DG, DRI, Mr A P Kala is new DG of Central Economic Intelligence Bureau; Finance Bill comes under attack from UPA coalition partners RJD & Left; Defaulting Establishments owe Rs 2500 Cr to PF; Lok Sabha informed; Trading with China through Nathula to begin tomorrow; House Panel to take up budget cut issue with FM for social justice ministry; LTTE drops bombs at IOC's gas storage facilities near Colombo; Lakshmi Mittal grabs top slot of richest man in UK; |
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| Dear Member, Sending you the following files: |
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2007-TIOL-221-HC-DEL-IT.doc + relaxo story.doc Expenses incurred by the Assessee for setting up a new unit which is part of the existing business is allowable as Revenue expenditure : Delhi HC; Penalty levied u/s 271(1)(c) - Tribunal deletes the same as Revenue fails to rebut the explanation given by the assessee and also to detect any concealment of income in search - The findings are based on facts and there no referrable law point in the case : Bombay HC; Search u/s 132 - Unaccounted cash seized from two other persons - Assessee claims ownership to a major part of cash - Since the assessee claimed the sum and a statement was recoreded u/s 132(4) and panchanama was drawn to seize the cash from the assessee, no fault can be found with the block assessment order passed after issuing notice u/s 158BC : Bombay HC; |
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Five Members appointed for Settlement Commission for Customs & Excise; 2007-TIOL-71-SC-CX.doc + sc story.doc Plastic name plates for motor vehicles fall under Chapter 87 and 39: SC; 2007-TIOL-567-CESTAT-KOL.doc + gupta story.doc Committee of Commissioners - One Commissioner wearing two hats cannot constitute committee:Cestat; Rail scrap - Clandestine removal - No evidence collected but the assessee produced sale deed for rail scrap and not finished goods - Demand set aside :Cestat; Central Excise - clandestine removal of goods - Commissioner (Appeals) order setting aside the duty demand and penalty on the ground that there is no inquiry has been conducted is not correct- admitted facts need not be proved - Order -In-Original restored to the extent of duty demand and penalty :Cestat; Central Excise - Pre-deposit under Section 35 F - Taking of suomoto credit of pre-deposit made is allowable - Disagreement with the Tribunal's ruling is clear case of Judicial indiscipline :Cestat;
SERVICE TAX SECTION Issuance of show-cause notices for non-filing of returns; Board asks field to allow de-registration of small service providers; 2007-TIOL-566-CESTAT-MUM.doc + st story.doc Once the Service Tax amount is being collected from customers, it cannot be said that there is a financial problem in paying the amount to the department - penalty enhanced :Cestat; Service Tax - There is no reason to levy penalty on assessees for delay in payment of service tax when an Amnesty Scheme was introduced by the Board to help assessees comply with the service tax law in 2004 :Cestat;
CUSTOMS SECTION Seizure of gold bars - Appellants produce documents in relation to licit possession - Statements of traders in the chain recorded - Absolute confiscation and penalty ordered on ground that the payments were not yet made - Commercial practice cannot determine legality of imported items - Since the appellants have authentic invoices, confiscation set aside :Cestat; Import of sun control / dust control film - Consignment declared as polyester films - Re-export allowed but redemption fine and penalty imposed - Assessee argues against imposition of redemption fine - Redemption fine and penalty are imposed under different Sections of the Customs and both can be imposed together - No reduction in redemption fine can be allowed as the offending goods attracted anti-dumping duty also :Cestat; |
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Unauthorised Buildings - - No Service Tax? Information Systems Security and Control - Need for creation of pool of experts within Revenue; Export of 'inputs and capital goods' as such? Patel Engineering plans 1200 MW plant in Gujarat; Cambridge Solutions ranks 10th on IAOP's List; Orchid Lab gets Frost & Sullivan Award; Bharati Shipyard signs contract for multi-purpose offshore vessel; Twilight Litaka to expand capacity by 35%; to save excise duty from Baddi plant; |
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| Regards Taxindiaonline.com Pvt. Ltd. |
