Iran-Pakistan-India gas pipeline project : WB willing to fund it;

UK to assist in curbing human trafficking;

FM to move amendments to Finance Bill tomorrow; Budget to be passed by Saturday;

CBI files charge-sheet against former CEO of NOIDA;

MoF clarifies coins of all denominations are in circulation and nothing has been withdrawn;

India exported goods worth USD 12.5 bn in March 2007;

2007-TIOL-223-HC-MUM-IT.doc

Minor sons make declarations under Amnesty scheme - Then loans the sum to the assessee on interest - Deduction claimed for the interest paid to minors - AO disallows the interest and adds back the same to income - Once AO has accepted the declarations of the minors he has no business questioning the source of income and bring the same within the ambit of Sec 64 - Tribunal's order upheld: HC

2007-TIOL-222-HC-MAD-IT.doc

Loss return filed - Revenue passes high pitch assessments and raises huge demand - Stay of demand declined - Revenue cannot simply dismiss applicatin for stay by saying 'no valid reason given' and must follow its own Instruction related to high-pitch assessments - Stay granted : HC;

CENTRAL EXCISE SECTION

2007-TIOL-578-CESTAT-DEL.doc + 11ac story.doc

Minimum penalty under Section 11 AC   - need not be equal to the duty in cases where the duty was paid before adjudication proceedings - P&H High Court order has no application in such cases:Cestat;

2007-TIOL-577-CESTAT-MAD.doc

Central Excise - Refund - No cash refund of unutilized credit lying in RG 23A Part - II account on closure of unit :Cestat;

2007-TIOL-576-CESTAT-BANG.doc

Central Excise - Refund of Education Cess - The Certificate issued by Chartered Accountant has evidential value and merits acceptance :Cestat;

SERVICE TAX SECTION

2007-TIOL-574-CESTAT-DEL.doc

ST - Manpower Supply Service - Refund claim filed as assessee did not provide any recruiting service but supplied manpower as per contract - Since 'Manpower Supply' was brought under tax net only from June 16, 2005 and the tax was not passed on to the recipient, refund claim is legally sustainable :Cestat;

CUSTOMS SECTION

2007-TIOL-575-CESTAT-MUM.doc

Contract entered into between the importer and the foreign supplier was for the complete machine, 90% of which was imported at Nhava Sheva without any objection by the Revenue - as such, import of the present consignment, which is nothing but a part of the same contract, has to be held as import of complete capital goods and not part of the capital goods requiring any licence – Order of Commissioner(A) upheld, Revenue appeal rejected :Cestat;

cnt34.doc

Adjudicator appointed for many Chennai cases;

cnt35.doc

Adjudicator appointed for M/s Fulchand & Sons;

cnt36.doc

Adjudicator appointed for M/s Global Traders;

cnt37.doc

Adjudicator appointed for Reliance Communication case;

cnt38.doc

Adjudicator appointed for M/s Vasavi Impex Pvt Ltd;

cnt39.doc

Adjudicator appointed for M/s Mitashi Edutainment;

dgft07pn003.doc

Import from China through Nathula & Gunji ports : DGFT fixes CIF value limit to Rs one lakh and Rs 25,000 respectively for a single consignment;

spl down.doc

Export duty on iron ore : What will happen to supplies made to SEZs ?

2007-TIOL-73-SC-CT.doc + sc orissa story.doc

Sale of Tendu leaves by state corporation for transport to a place outside state - Sale and purchase - are deemed to have taken place in course of inter-state trade and as such exigible to CST and not local sales tax;

cbuzz003.doc

Moser Baer profits rise by 100%; GMDC decides to split stocks;