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DGST to be shifted to Delhi but do it only after creating infrastructure! AFTER long time the CBEC has taken a sensible and much-needed decision to shift the Directorate General of Service Tax to Delhi. The idea is to create a post of ADG, DGST in Mumbai which can retain the expensively and tastefully furnished office. And it may turn out to be a disappointing news for those who were keeping an eye on this office. However, a note of caution for the CBEC! This decision to shift DGST should not be implemented in haste like the DG (Audit) which was shifted into two raw rooms at C R Building, and till date this Directorate has not got an 'office' of its own. It continues to look 'dumped' and does not attract attention of either the officers in the Department or the assessees. It is important that the CBEC decides a sufficiently spacious place before the DGST is formally shifted. After shifting a proper 'puja' should also be done to start afresh for playing a more meaningful role rather than be just a spoiltsport. Let's hope the new Chairman understands this basics of an organisational requirements rather than just getting lost in the transfer-mania! |
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Govt okays appointment of CMD & Jt CMD for merged airlines entity; Mumbai bomb blasts : Seven more sentenced; R B Sinha all set to be new Member of Authority for Advance Ruling (Income Tax); Bahrain to go for six-month amnesty for illegal expatriates; PM says agri sector suffers from 'technology fatigue'; Filing of Form 16 not required for claiming refunds; |
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| Dear Member, Sending you the following files: |
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CBDT beats own deadline and issues transfer order of 137 Addl / JCITs; Two AC/DCs transferred; RBI fresh guidelines for banks under Prime Minister's Rozgar Yojana; 2007-TIOL-98-SC-IT.doc + penalty story.doc Assessee's income comprises of salary, profit from properietorship business, dividend and interest - AO asks for more details of investments in shares - Penalty imposed u/s 271 - Tribunal sets aside penalty - HC sets aside Tribunal's order - Penalty being a quasi-criminal proceedings, existence of mens rea is essential and can be levied only in a case of ''concealment'' and not for furnishing inaccurate particulars of income:SC; Backward area subsidy by the Govt - Revenue deducts the same from the actual cost of assets for allowing depreciation - Since the incentive given by the Govt is not intended to either directly or indirectly meet the actual cost, it cannot be deducted from the actual cost of assets - Revenue's appeal dismissed :HC; Charitable institution - Exemption under Rule 18AAAA read with Sec 12(3) - Donations received from domestic as well as foreign sources to provde relief to quake victims - A part of donations left unutilised - Revenue intends to tax the leftover sum - Assessee argues the leftover fund came from overseas donors not taxable in India - Revenue denies exemption - Case remanded for fresh consideration :HC; Search u/s 132 - Additions made for alleged understatement of value of property and expenditure incurred for its improvement - Since no documentary entries found during search in relation to understatment of cost of property or its improvement it cannot be treated as 'undisclosed income' u/s 158B as the property is already a declared asset - No point of law involved - Revenue's appeal dismissed : HC; |
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2007-TIOL-705-CESTAT-AHM.doc + cola story.doc Even if the name of the manufacturer does not appear on the Certificate issued by the Project Implementing authority, the same cannot lead to denial of exemption notification 108/95-CE: Cestat; Repacking of lubricating oil of Chapter 27 into smaller pack does not amount to manufacture till insertion of note to Chapter 27 w.e.f. 1-3-2000 - Demand of extra duty recovered by assessee and confirming same under S.11A not sustainable since neither it is short levy nor short payment nor non-levy nor non-payment under Section 11D of Central Excise Act, 1944 - earlier decisions in respect of same assessee followed :Cestat;
SERVICE TAX SECTION ST - CHA Service - Tax paid before issue of SCN - Penalty u/s 76 imposed for delayed payment of tax - Since tax was paid after detection of mischief of evasion, penalty is leviable :Cestat; 2007-TIOL-706-CESTAT-DEL.doc + 20 cr story.doc Service Tax - Demand on construction of a power project - The finding is that drawing, design etc. portion of that contract will not be taxable as 'engineering consultancy' - Stay granted :Cestat;
CUSTOMS SECTION Exchange rate for export goods for June; Exchange rate for import goods for June; Refund claim without challenging assessment order - in view of contrary orders matter referred to Larger Bench for settling controversy. :Cestat; |
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No enclosures to IT returns : Filing Of Form 16 By Tax Payers Not Required For Claiming Refunds - CBDT clarifies; 1000 appeals and three and a half month later - Superb performance of CESTAT, Kolkotta; 2007-TIOL-282-HC-MUM-FEMA.doc + FEMA hc story.doc Foreign Exchange used for import of goods - Imported goods not cleared from warehouse - no violation of FERA or FEMA; Shivalik Global, RPS Infrastructure to develop Rs 630 Cr property at Faridabad; Satyam, Oracle form strategic alliance in Asia Pacific to accelerate Business Intelligence Adoption; Tata Steel signs MOU with Vietnam Steel for plant in Ha Tinh province; Strides Arcolab to acquire Diaspa's fermentation facility in Italy; |
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