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FM gives away certificates to first batch of Tax Return Preparers at a ceremony in Delhi; CBDT AGT to follow the order of ACs/DCs, Addl/JCs & then CITs; First order expected by next week; National Productivity Award for Agriculture to be given tomorrow; Nhava Sheva Customs brings DEPB imports under risk management system; PM says corruption in road projects has spread like cancer; PM to announce mega package for agri sector soon; |
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| Dear Member, Sending you the following files : |
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Option for TDS certificates by way of digital signature; Agricultural tax - Assessee's return rejected and additions made - Tribunal further makes addition for not declaring income on part of total land of the estate - HC rejects tribunal's findings - If a finding of fact is arrived at after improperly rejecting evidence, a question of law arises - Matter remitted for fresh considertion : SC; 2007-TIOL-267-HC-ALL-IT.doc + income tax.doc Income Tax - Expenditure disallowed by AO; Order set aside in appeal as no such disallowance can be made under Section 143 - AO issues notice under Section 148 - Notice is legal and within jurisdiction : Allahabad HC; Assessee is a club - Earns income from its Members or their guests in lieu of services provided - Surplus fund deposited with bank - Revenue in favour of taxing interest income - Tribunal upholds AO's stand - Doctrine of mutuality applicable in this case and surplus cannot be taxed as profits - Assessee's appeal upheld : Delhi HC; AY 1999-2000 - Sec 80HHC - Exports of audio music software - Deduction claimed - Revenue argues since specific Sec 80HHF was inserted from AY 2000-01, benefits cannot be allowed - Since music software - a software on audio media - qualifies as goods, benefits cannot be denied merely because a specific Section was inserted into the statute later - Revenue's appeal dismissed : Madras HC; |
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2007-TIOL-269-HC-MUM-CX.doc + sterlite story.doc Appeal not tenable under Section 35G - Appeal lies with Supreme Court only under Section 35L : SC; 2007-TIOL-679-CESTAT-MUM.doc + cestat story.doc Removal of inputs as such - no question of charging interest u/s 11AB if the amount required to be paid under rule 3(4) of the CCR, 2002 is paid on monthly basis under rule 8 of CER'2002 - Tribunal : Cestat; Central Excise Compounded Levy Refund Bar of unjust enrichment is applicable to the refund claimed under rule 96 ZP (3) of Central Excise Rules, 1944 : Cestat;
SERVICE TAX SECTION Procedure for granting exemption from service tax to taxable services provided to foreign missions/consulates and to the personnel posted there in India; Certain old notifications rescinded; Service provided to diplomatic agents exempted from tax; Service provided to Diplomatic mission exempted from tax; ST - C & F Service - Deduction of re-imbursable charges allowed by lower appellate authority - Commissioner disagrees - It is a settled issue and Revenue's appeal dismissed :Cestat; As the constitutional validity of the entire retrospective amendments, which made the recipient of the services to discharge tax liability, has been upheld by the Hon'ble Supreme Court in the case of Gujarat Ambuja Cements Ltd. Vs, Union of India, the arguments of the appellant do not have merits - service tax paid is due in law, hence no question of refund arises :Cestat;
CUSTOMS SECTION Risk Management System launched at Hyderabad Air Cargo Complex; 2007-TIOL-268-HC-P-H-CUS.doc + hc cus story.doc EOUs - imported goods unfit for use - can be re-exported or destroyed :HC; Notification 159/90 Cus, dated 30.03.1990 - Once the export obligation has been fulfilled, there is no impediment to the disposal of the material imported for replenishment, which materials have identical specification and technical characteristics as those used in the manufacture of resultant products exported : Cestat; |
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It is now official - Finance Bill, 2007 got presidential assent on 11th May, 2007 - New Services Notified - Effective from 1st June, 2007; Tribunal and 'ultra vires' - kabhi haa, kabhi naa !! GMR ties up with Plaza Premium of Hong Kong for new Hyderabad Airport; Micro Technologies introduces 'Mobile Micro Shoppe' on Wheels; HCL Technologies joins hands with nCore; to participate at FileNet meet; |
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