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Sahar Airport Customs seizes 717 pieces of memory sticks worth Rs 15 lakh, concealed in undergarments of pax coming from Dubai; Dr Naresh Trehan denied entry into Escorts Hospital in Delhi; Patients's kith & kin up in arms; MoF withdraws exemption to 'Development of Integrated Township' as allowed end-use of ECB; |
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| Dear Member, Sending you the following files : |
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Loss return filed but balance-sheet not annexed - AO issues letter to remove defects - Assessee fails to respond to the letter - Order u/s 139(9) passed rendering the return invalid - CIT(A) upholds appeal of the assessee that the Order passed by the AO was virtually an order u/s 143(3) and fresh assessment ordered - Revenue argues an order u/s 139(9) is not appealable - Since such an order can legitimately be termed as an order u/s 143(3), it is appealable - Revenue's appeal rejected :Allahabad HC; 2007-TIOL-260-HC-UTTARANCHAL-IT.doc Assessee hires travel agents for organising LTC tours for its employees and others - Commission paid but no TDS u/s 194 deducted - AO holds assessee in default u/s 201 - Tribunal upholds Revenue's case - Since the assessee is the contractor which hires travel agents and pays them for the tour, it cannot shirk its responsibility from deducting tax at source - Assessee's appeal dismissed : Uttaranchal HC; |
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2007-TIOL-661-CESTAT-DEL.doc + penalty story.doc Reduced penalty@25% cannot be set aside on the ground that duty amount was already deposited before issuance of the show cause notice: Cestat; Modvat/ Cenvat Credit on glass bottled used for packing aerated waters - material produced before the adjudicating clearly states that the cost of glass bottle was included in the assessable value of aerated water - credit can not be denied - Order In Original restored : Cestat; Duty payment under Compounded Levy Scheme - Delay - Duty with interest paid - Penalty - Rule 95ZP(3) - Penalty need not be maximum : Cestat;
SERVICE TAX SECTION ST - Management Consultancy Service - Assessee under an agreement takes over the management of a sugar mill - Revenue demands tax - Since the agreement confers operational autonomy and responsibility on the assessee, the relationship is not one of consultancy - There is no management consultancy in the facts of the present case and the demand is clearly beyond the scope of the statute - Revenue's appeal dismissed :Cestat;
CUSTOMS SECTION EPCG - Assessment of Bill of Entry by an officer of Customs subordinate to the AC/DC is not an appealable order - Matter remanded - AC/DC directed to take decision afresh : Cestat; |
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Civil Aviation Ministry keen to allow 100% FDI in 'Merchant Airports'; RBI norms for PSUs investment in unincorporated entities in overseas oil sector; RBI brings uniformity in period for surrender of unspent forex; RBI allows repatriation of maturity proceeds of FCNR (B) deposits; Essar bags oil block in Nigeria, Parsvnath launches Commercial Mall; |
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