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CBDT transfers Homi Rajvansh to ITAT kolkata; TN Govt + GVK Group to develop 1500 Cr SEZ; New CBDT Member R S Mathoda gets temporary charge of L & J + zonal charge of North Zone; World Bank to provide USD 250 mn for HIV Control Project; |
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| Dear Member, Sending you the following files: |
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2007-TIOL-362-HC-DEL-IT.doc + Sawhney story.doc Income Tax - Appeal filed before high court - Appeals u/s 260-A can be filed only where there is a substantial question of law involved and the court has limited jurisdiction under the said section of entertaining such appeals only which involve a substantial question of law - Assessee's appeal dismissed :HC; Income Tax - Change in the method of valuation of closing stock - Additions made for reduction in profit due to change in the method of valuation - Assessee can change its methods of accounting to any other recognised method as long as its bonafide and followed subsequently and in the year of change of method there is bound to be some variation in its profitability which cannot be forced upon the assessee - Revenue's appeal dismissed :HC; Income Tax - Assessee is a manufacturer of chewing tobacco - A.O. relies on the report of an Institute for determining the percentage of silver used in manufacturing at the time of assessment but refuses the assessee a chance to cross-examine the analyst despite repeated requests - Though strict rules of evidence are not applicable to assessment, yet it has to conform to basic principles of natural justice and denying the right to cross-examine the analyst on whose report A.O. had relied is violation of the same - Revenue's appeal dismissed :HC; Income Tax - Export of software - Exemption u/s 10B on entire profit claimed - Invocation of powers u/s 263 - Such powers can be utilised only if the orders of A.O. are erroneous and prejudicial to the interests of revenue and not when there are two possible interpretations of a provision and A.O. takes one of the possible views which A.O. did in the present case - Revenue's appeal dismissed :HC; |
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2007-TIOL-903-CESTAT-DEL.doc + bottle story.doc Contaminated/overfilled/under-filled bottles of aerated waters – not marketable – excisable? - Matter referred to Larger Bench:Cestat; Central Excise - Assessee is engaged in the manufacture and sale of edible oil and some by-products which are exempted - Cenvat credit availed - Revenue demands duty on exempted goods for not maintaining separate accounts of inputs used for excisable and exemptd goods - Assessee claims that its by-product is unintended - Provisions of rule 6 of Cenvat Credit Rules will apply when two final products are obtained from same inputs where one is dutiable and the other exempted, regardless whether the byproduct is intended or unintended - Assessee's appeal dismissed - (Para 6,7,8).:Cestat;
SERVICE TAX SECTION 2007-TIOL-906-CESTAT-DEL.doc + mangalam st story.doc Consignment agent performing some functions of clearing and forwarding is a C & F agent - The loud thud of a drum cannot erase the soft whispers of a flute which also forms a part of orchestra :Cestat; Consulting Engineer service prior to 16.10.1998 – if service was provided, tax was payable – Commissioner's order not legal and proper – case remanded :Cestat; ST - BAS - Tax paid and deposited even before taxable service notified - Refund - Commissioner (A) accepts the tax was mistakenly paid as no such taxable service existed during the relevant period but orders deposit of the sum in Consolidated Fund of India - Since the Commissioner's order contradicts its own findings, the issue remanded for fresh consideration:Cestat;
CUSTOMS SECTION Customs - Penalty - Pre-deposit of 25% penalty ordered by Tribunal - Writ - HC reduces amount of pre-deposit but the assessee files miscellaneous application - Application dismissed - Assessee argues once penalty imposed on the company it cannot be levied on individual Directors - No such bar is there in Sec 112 of Customs Act - Compliance with pre-deposit ordered:HC;CHA - Stay of operation of OIO - Pre-determined mind-set developed without enquiries envisaged under the law is incorrect -operation of the unwarranted observations stayed:Cestat; EPCG - The original authority or the appellant authority could have accepted the discharge certificate which was issued by JDGFT in the light of the public notice issued by the Central Government :Cestat; |
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ddt 6 july.doc + conceptpaper.doc Education cess exempted for imported wine; An International Tax Conference with 'generalist' faces of 'Revenue'! RBI guidelines for RRBs on acceptance of FCNR deposits; Applications invited for Post of Controller General (Patents); |
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