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DRI, Delhi Zonal Unit, seizes 13 kg heroin in two separate cases in last two days in Punjab sector; Presidential polls picks up in afternoon; Promotion to CIT : 1987 batch panel comes back with ACC approval; Board asks for choice; Govt to develop low-cost airports to provide better connectivity to smaller towns; |
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| Dear Member, Sending you the following files: |
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INSIDER CBDT Chairman is very unhappy with himself? CASELAWS 2007-TIOL-214-ITAT-DEL.doc + valid story.doc Order passed by transferred officer is valid because it was not originally challenged and also because there is no prejudice caused:ITAT; Income Tax - Rectification of mistakes - Power of rectification u/s 254(2) is limited and confined to mistakes apparent on record and mere non-reference of certain arguments does not constitute mistake apparent on record as long as order is a result of appreciation of evidence brought on record - Order of tribunal was based on proper appreciation of evidence and material brought on record and grounds raised are merely arguments clothed as grounds - Revenue's application rejected:ITAT; Income Tax - Assessee is engaged in the business of construction and selling of flats - A.O. refuses to believe the sale price and makes assessment on estimated sale price on the basis of certain letters - The burden to prove that actual sale price is more than the price given in sale transaction lies with the revenue which has to be discharged by cogent evidence to buttress its claim - Onus is not discharged by merely referring to letters - Assessee's appeal allowed: ITAT; Income Tax - Assessee is a transport operator and files revised return declaring additional income in consequence of a survey conducted on his premises - Revenue imposes penalty u/s 271(1)(c) - Assessee objects to imposition of penalty on the ground that it voluntarily offered additional income - The fact of concealment of income by inflation of expenses was clearly brought out by the survey and assessee filed revised returns in consequence of that - Revenue's appeal allowed: ITAT; |
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Central Excise - Cenvat Credit - payment of 8% on the by products, Neutral Filter cake and DAP, a fertilizer in terms of Rule 6 of the Cenvat Credit Rules - the appellants have paid the full duty on the by products, though exempted - demand of 8% not correct - no suppression of facts - matter remanded for the limited purpose of calculating the duty for the normal period:Cestat; Appellant himself reversing the amount of Cenvat Credit involved in shortage of inputs noticed during stock taking conducted by their own officers - No cause for imposition of any interest or penalty. :Cestat; Central Excise - Petroleum products - warehousing - The benefit of exemption for clearances to EOU cannot be denied simply because warehousing facility is availed :Cestat;
SERVICE TAX SECTION Service Tax - Clearing and Forwarding Agent Services Vis-à-vis Business Auxiliary Services - Commissioner (Appeals) has not addressed the substantive issue as to whether Service Tax is payable in the category of clearing and Forwarding Services on the amounts collected from the three companied during the period in dispute - Matter remanded for fresh decision on merits:Cestat; ST - Banking and other financial services - Tax demanded for renting out storage tank for gases sold to customers - Pre-deposit waiver granted as the assessee not covered under Sec 65(12) as they are neither banking nor financial institution nor non-banking financial company:Cestat;
CUSTOMS SECTION 2007-TIOL-381-HC-DEL-COFEPOSA.doc + dri story.doc DRI raids importer- DRI officer arrested by CBI for taking bribe - importer to be detained under COFEPOSA - detention can be challenged before its execution - Revenue does not rebut allegations of the detenu - order of detention is passed for extraneous reasons and for a collateral purpose: HC Section 149 of the Customs Act gives a statutory right to the assessee to seek amendment of a shipping bill after the same has been presented in the Customs House - appellants request to pay CVD in cash & re-credit the amount debited through DEPB scrip to enable them to take Cenvat Credit to be allowed subject to the contents of the proviso to s.149 - issue squarely covered by Division Bench decision of Tribunal in Brakes India Ltd,2007-TIOL-323-CESTAT-MAD-Appeal allowed with consequential relief:Cestat; |
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Tariff Value of Brass Scarp - Increased; Tussle for Board Member post : What happened to K P Singh's case? What is Wednesbury Principle? Ele' Bele status of 'Fourth Estate' - Indian journalism faces crisis of credibility and charged with triviality! 2007-TIOL-127-SC-CT.doc + sc ct story.doc Spices after grinding made into masala powder - commercially a new commodity emerges - liable to sales tax :SC; CCIT Meerut gets additional charge of kanpur; RBI comes out with guidelines on maintenance of collateral by FIIs for transactions in derivative segment; HPCL signs MOU with ONGC; Glenmark purchases rights to two antibodies from Chromos; HEG to hive off its steel operations for Rs 88.5 cr; Hindalco to acquire Alcan stake in Utkal Alumina; |
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