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PTC to mobilise Rs 1200 Cr for expansion; Govt says no to excise duty sops to sugar mills; Steel prices all set to go down; |
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| Dear Member, Sending you the following files: |
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2007-TIOL-339-HC-MAD-IT.doc + Refund story.doc Income Tax - Refund with interest paid - AO, in rectification proceedings, withdraws refund on the ground that tax was paid by self-assessment which does not entitle interest on refund - Sec. 244A(i)(b) lays down that interest is to be paid on any refund of tax made and it's a settled law that interest will be paid on refund of tax paid on self assessment u/s 140A also - Revenue's appeal dismissed : HC; Income Tax - Deduction claimed for lease rent paid on lump sum basis - Revenue denies on ground that assessee treated the same as capital in its books of accounts - Nature of expenditure is to be determined by looking at the expenditure from commercial point of view and thus payment of rent on lumpsum does not alter the character of it being revenue expenditure - Revenue's appeal dismissed: HC; Search & seizure - Additions made for excess cash balance - Assessee claims to have collected funds on credit for directing a film - Tribunal sets aside order - Since assessee managed to produce three out of four creditors and Revenue failed to prove it otherwise, additions not sustinable :HC; Income Tax - CBDT Instruction No.1979 - Assessee objects to filing of appeal by revenue since the tax effect is less then the threshold limit laid down - Revenue argues Instructions are internal communication of the department on which reliance cannot be placed by the assessee and it's for the Revenue to decide about filing an appeal - There is no doubt that these Instructions are internal matter of the department but still in cases where tax effect is less then what is prescribed, tax authorities have to apply their mind before filing appeal, keeping in mind the objective of instruction to reduce litigation and should state if the case falls under one of the exceptions given in the Circular :HC; |
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Customs International Executive manag.doc The Customs International Executive Management Program (CIEMP) of the Australian Customs Service to be held from 15th October to 16th November 2007 in Canbeera.;
Penalty under section 11AC-duty paid before SCN; EOU - The new method of calculating the duty of excise payable by EOU is effective from 1.3.2002 in view of Larger Bench decision - The appellants are entitled for refund subject to the test of unjust enrichment :HC Central Excise - Utilisation of credit of Additional Excise Duty (AED) paid on Rubberised tyre cord warp sheet - The appeal is infructuous in the wake of the settlement under Section 88 of the Finance (No. 2) Act, 2004 as amended by Finance Act, 2005 .:Cestat;
SERVICE TAX SECTION Service Tax - Input Service credit - In view of explanation of out put service under Rule 2(P) of CENVAT Credit Rules, 2004 the appellants while paying Service Tax on GTA Service availed in connection with removal of their final product from the factory, were doing so on an "output service" and, therefore, they were entitled to utilize for payment of Service Tax on such service, credit of the tax paid on the input GTA Service availed by them in connection with receipt of inputs into their factory :Cestat; Service Tax - Appeal delay condoned - Prima facie the appellant made case in his favour since service tax cannot be levied against Government for performing their sovereign functions in terms of the powers granted in constitution of India - Matter remanded to Commissioner for fresh decision :Cestat;
CUSTOMS SECTION NOTIFICATIONS Customs Exchange rate for export goods for July; Customs Exchange rate for imports for July;. CASE LAWS Pre-deposit - Addl DGFT asks for pre-deposit of penalty imposed - Assessee fails to deposit - Appeal dismissed - Assessee argues notice not served on them - Contention not accepted - Pre-deposit ordered and appeal to be restored on deposit - Assessee's appeal dismissed :HC;2007-TIOL-852-CESTAT-MAD.doc + Gmmco Story.doc Assistant Commissioner sits in judgement over Tribunal's orders - order set aside - refund ordered within seven days- AC's Order contumacious:Cestat; Customs - Re-Import - What was exported was a grinding machine and what was imported is a TP liner bore grinding equipment which is different product - lower authorities order is correct :Cestat; |
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Penalty under section 11AC-duty paid before SCN-Board seeks details in a strange letter; Thoughts on Taxes and Governance! 2007-TIOL-119-SC-MISC.doc + sc evidence story.doc Evidence Act - secondary evidence - photocopies cannot be received as secondary evidence - Secondary evidence, as a general rule is admissible only in the absence of primary evidence - If the original itself is found to be inadmissible through, the same party is not entitled to introduce secondary evidence of its contents: SC; Precision Containeurs expands manufacturing facilities at Daman; Raxaul Customs seizes pulses worth Rs 90 lakh being smuggled to Nepal; United Phosphorus acquires Supertin & Vendex from Dupont; World Bank sanctions USD 600 mn for Indian Rural Cooperatives; |
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