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India's forex reserves up to USD 212.5 billion; Govt mulling setting up manufacturing investment regions; BJP leader Sahib Singh Verma dies in road mishap on Delhi, Jaipur highway; Private sector initiative : India, UK corporates join hands to work together to mitigate impact of climate change; Govt acquires entire RBI share-holding in SBI in biggest ever cash deal; |
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| Dear Member, Sending you the following files: |
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CBDT promotes 165 ITOs as ACITs ; Income Tax - Regular assessment u/s 143(3) done - Reassessment initiated after passing off of four years on the ground of excessive deduction - Reopening of assessment u/s 147 after passing of four years can be made only if income chargeable escapes assessment on account of non-disclosure of material facts by the assessee truly and fully which is not the case here - Revenue's appeal rejected - (Para 8). :HC; Income Tax - Assessee applies for registration u/s 12A/12AA to avail benefits of Sec.11 & 12 - Revenue denies registration on the ground that assessee is a commercial establishment and its activities entail profit motive - Registration u/s 12A/12AA shall be granted if activities of the institution are genuine and are of general public utility for charitable purpose, and it does not matter if there is some profit making by the institution as long as dominant object is general public utility - Revenue's appeal disallowed - (Para 9,10,11,12,17). : HC; |
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RLT Case Laws Headnotes; Central Excise - SSI - To arrive at aggregate value of clearances of all excisable goods for home consumption by a manufacturer from one or more factories or from a factory by one or more manufacturers, the clearances attracting nil rate of duty is also required to be added during the relevant period : Cestat; Central Excise - Job work - Valuation - Once the cost of raw material is adopted for construction of the cost of final product, deduction on account of invisible loss or raw material cannot be allowed :Cestat;
SERVICE TAX SECTION ST - Cargo Handling Service - Assessee only provides labour to a company which in turn deploys them for cargo handling - Pays tax under Manpower Recruitment Service - Revenue raises fresh demand under Cargo Handling Service - Mere supply of manpower which is used for a particular service does not make one a service provider - Demand set aside (Para 9). :Cestat;
CUSTOMS SECTION Confiscation and penalty - Apellant seeks alternative benefit under para 4.15 of EXIM policy under which any person can import any goods except prohibited items, store them in bonded warehouse and subsequently clear them in accordance with law - Revenue rejects the claim since appellant did not take the plea at the time of original investigation but only in adjudication proceedings - It is settled law that if there is benefit available to assessee under alternative provisions of law and is otherwise admissible, can always be claimed by the assessee and it can't be rejected on the sole ground that claim wasn't made at the time of import - Assessee's appeal allowed - (Para 6). :Cestat; |
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2007-TIOL-121-SC-State CX.doc + sc excise story.doc Excise offence - confiscation of vehicle belonging to third party - knowledge or mens rea of the owner not relevant - Supreme Court; India, EU keen to broad-base trading and investment rapport; Remittance norms eased for aviation industry; Tech Mahindra to set up Centre of Excellence for service delivery at Belfast ; C & C Constructions & NHAI sign BOT Agreement ; |
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