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CBEC still working on Drawback Notifications; may issue them on Monday; EU alleges supply of fake drugs from India : Nath to hold conclave with industry; |
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| Dear Member, Sending you the following files: |
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Income Tax - Assessee claims dimunition in value of shares as revenue loss - A.O. disallows and imposes penalty u/s 271(1)(C) - Invocation of Sec.271(1)(C) can be made only in case of furnishing inaccurate or concealment of income and merely treating of an income differently does not amount to that - Assessee has disclosed the material facts - Revenue's appeal dismissed :HC; |
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RLT Case Laws Headnotes; Duty plus interest deposited even before SCN issued - Revenue imposes penalty - Commissioner (A) sets aside penalty - In view of Punjab & Haryana HC order, matter remanded for fresh consideration :Cestat; Central Excise - Valuation - Inclusion of National interest on advances - Revenue has not established nexus between the price of goods and the advance received by the assessee from their buyers :Cestat;
SERVICE TAX SECTION Service Tax - Recipient of Goods Transport Operator Services during the period 16.11.97 to 02.06.98 - Since Service Tax due was paid, interest and penal liabilities are not attracted when tax was paid within 6 months of 13.5.03 :Cestat; ST - Tax paid before issuance of SCN - Penalty imposed - Assessee cannot escape the consequence of the law by merely depositing the tax before the issue of SCN once he is caught on wrong foot - Penlty upheld :Cestat;
CUSTOMS SECTION 2007-TIOL-949-CESTAT-DEL.doc + eou extensions story.doc Non fulfillment of export obligation by EOU - Extension of time to be given liberally:Cestat; |
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ACRs and career prospects of field officers in CBEC; Rupee Export Credit Interest Rates Cheaper loan to exporters : RBI issues direction to scheduled banks; |
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| Regards Taxindiaonline.com Pvt. Ltd. |
