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ACC approves Panels for promotion to Member-posts in Revenue Boards THOUGH delay is an integral part of our kind of system, it looks more pronounced even after the Govt has put a Selection Panel methodolory in place. Though vacancies for Member-posts in the CBEC and CBDT cropped up long back, and several posts have been vacant for quite some weeks now, the appointments were hanging in the balance at the ACC-level, causing heart-ache and headache to many. Anyway, 'Insiders' informed us yesterday that the ACC has finally approved two panels. In names in the CBDT panel are Mr R S Mathoda, Mr N B Singh, Ms Sunita Kaila, Mr Ajai Singh, Mr S S Khan, Mr G Muthuramakrishnan, Mr Pramod Kumar and Mr S S Naraya Moorthy. In the case of CBEC it comprises of names of Mr B K Gupta, Mr J K Batra, Mr V Sridhar, Mr Lakhinder Singh, Mr Vijay Singh and Mr A C Buck. |
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Cabinet okays upward revision of royalty on coal and lignite + Induction of M/s Mittal Energy Investments Pte Ltd as JV partner in Bhatinda refinery + Integrated Strategy for Promotion of Agri-business; Orders issued for two Members in CBDT & CBEC; Mr R S Mathoda is new Member of CBDT; Mr B K Gupta goes to CBEC but subject to Mr K P Singh case before CAT; First meeting of Indo-Japan Working Group discusses bilateral issues in Tokyo; Presidential nominee Pratibha Patil to resign as Rajasthan Governor tomorrow; Hyderabad Airport Customs seizes FC worth Rs 16 lakh being smuggled to Dubai; FM tells House Panel more countries be involved for Development Cooperation Assistance; BoA all set to discuss Navi Mumbai SEZ issue on Friday; |
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| Dear Member, Sending you the following files: |
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Members appointed to CBDT and CBEC; 2007-TIOL-180-ITAT-DEL.doc + Search story.doc Income Tax - Assessee's premises raided u/s 132 after his death and warrant issued in his name - Revenue makes assessments on legal heirs - If assessee dies, then any authorisation made and search conducted in his name after his death and any departmental procceedings in consequence thereof is against principles of natural justice and invalid and void ab initio - However, proceedings can be initiated against legal heirs as per law - Revenue's appeal dismissed :ITAT; Interest Tax - Assessees are into the business of hire purchase - Revenue charges interest tax on the hiring charges received by the assessees treating the entire transaction as finance transaction and the amount received as interest on loan - Hire purchase transactions are not finance transactions and charges received under such transactions are not interest on loan or advances chargeable to interest tax - Revenue's appeal dismissed :ITAT; Income tax - Deduction u/s 54B claimed for investment made for purchase of agricultural land in the name of mother - Revenue disallows on the ground that the land was not purchased by the assessee in his own name - Deduction is available only if the land is bought by the assessee in his own name and not family members - Assessee's appeal dismissed :ITAT; Income Tax - Deduction claimed for payments made under VRS - Revenue disallows holding that no provision available for such deductions before coming into force of Sec.35DDA from 2001 - Since the legal position before the amendment was to allow deductions of payments made under VRS in the same year it is incurred, it cannot be incurred to the assessee :ITAT; |
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Members appointed to CBDT and CBEC;
2007-TIOL-820-CESTAT-BANG.doc + Kar Steel Story.doc Commissioner (Appeals) sets aside a Joint Commissioner's order - Department appeals to Commissioner(Appeals) against the same order after it was set aside - JC's order merged with Appellate Commissioner's order :Cestat; Central Excise - Appeal - The appeal was filed with Commissioner (Appeals) pursuant to High Court order - There was delay in filing appeal without obtaining extension of time - The Commissioner (Appeals) was right in rejecting the appeal :Cestat; Central Excise - Valuation - Deductions towards (a) installation, Commissioning and training expenses (b) freight and insurance and (c) retailers margin - Total deduction of 15% from the retail price allowed under all the heads of expenses is determination of assessable value of the subject goods for the period of dispute - CESTAT :Cestat;
SERVICE TAX SECTION Service Tax - Recipient of Goods Transport Operator Services during the period from 16.11.97 to 2.6.98 - In view of the settled legal position that Show Cause Notice invoking provisions of Section 73 of Finance Act, 1994 were not maintainable :Cestat; Service Tax - Rent - a - Cab Service-Stay/Dispensation of Pre-deposit strong prima facie case for appellants on limitation - Part of the amount - already deposited - Stay granted :Cestat;
CUSTOMS SECTION 2007-TIOL-821-CESTAT-MUM.doc + betul oil story.doc Customs - Import under advance licence - denial of exemption on the ground of mis-declaration of the export product - when the export product falls under two categories of the SION, the assessee can choose the entry which is more advantageous to him - confiscation and penalties set aside. :Cestat; |
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ddt 21 june.doc + trade notice43.doc Anti Dumping Duty on Acetone; Indian FIU needs more funds and hands to enhance effectiveness! ACC supports construction of sustainable building project in India; Glenmark, Orchid receive tentative FDA nod for new drugs; L&T signs USD 94.95 mn ship-building contract with BigLift of Spliethoff Group; Tata Motors prices CARS worth USD 450 mn on Singapore bourses; |
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