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Asim Dasgupta Panel submits a list of new services to be taxed for States; Education, Healthcare, amusement parks and sports also figure in list; SC says convict's plea cannot be rejected at admission stage; ICAI decides Indian accounting norms to match international standards by 2011; Executive's treaty-making powers : Former CJI J S Verma recommends legislation by Parliament; Bombay serial blasts in 1993:Former Custsoms official Somnath Thapa sentenced to life imprisonment; Govt removes curbs over jaggery production; FM calls for sustained educational and awareness drives for investors; Income Tax return-filing:PIB organising special camps for mediaperson on Monday & Tuesday; Pak SC reinstates suspended Chief Justice Iftikar Chaudhary ; |
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| Dear Member, Sending you the following files: |
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Income Tax - A.O. rectifies the assessment order on the ground of wrong claim by the assessee - Rectification u/s 154 can't be done in case of debateable issues and only in case of mistakes apparent from record i.e glaring and obvious mistakes - Issue in the instant case is debateable - Revenue's appeal dismissed; Income Tax – No prosecution if Tribunal set aside penalty on merits Once the penalties are cancelled on the ground that there is no concealment, the quashing of prosecution under s. 276C is automatic:HC; Income Tax - Additions made for unexplained investment revealed by the assessee's pocket diary - Tribunal deletes additions on the ground that the diary can't be relied and become a basis of addition - Tribunal's order is purely based on findings of facts and thus no question of law arises - Reference returned unanswered :HC; |
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RLT Case Laws Headnotes; 2007-TIOL-988-CESTAT-DEL.doc + jobworker story.doc Inputs for manufacture of export goods – cannot be sent directly to job worker :Cestat; Central Excise – Exempted final product – If the value of the goods sold is to be determined under section 4 the amount received towards setting up of assembly and testing facility is required to be added – But it will not become part of sale price for payment of an amount of 8% of sale value under Rule 6; EOU - Epox Resins used by 100% EOU Granite Manufacturers is a consumable but not raw material - Entitled for benefit of Notification 23/03 Central Excise :Cestat;
SERVICE TAX SECTION ST - Security services - Assessee provides such services to various govt offices - Demand raised and penalty imposed - The same was confirmed by the adjudicating authorities - Assessee provides CA certificate showing lesser tax liability - Revenue provides certificates from govt offices about hihger amount but of a different period - Revenue cannot prefer an appeal on the strength of fresh evidence, collected subsequent to the adjudication order - Revenue's appeal set aside; ST - C & F Service - Non-payment of tax due to ignorance of law - Assessee pays part of tax liability even as no tax was collected from service recipients - Gross amount to be treated as cum-duty value and matter remanded for fresh consideration - Since tax was partly deposited even before issue of SCN, penalty is not called for :Cestat;
CUSTOMS SECTION 2007-TIOL-992-CESTAT-DEL.doc + excise story.doc In view of Section 6 of the Central Excise Act and Rule 9 of the Rules made thereunder, instruction No. 5 in the Form A1 for registration is ultra vires the scope of the said statutory provisions; Customs – DEPB – Central Excise duty is payable on the Consignment recalled which was originally cleared under DEPB Scheme – Section 47 of Customs Act enables customs authorities to levy interest on duty of customs and not on any duty of excise – Balance duty without interest payable; Customs - Imports - Non-production of required Certificate by the importer at the time of clearance of the goods was not fatal to their substantive right for the benefit of exemption under the notification :Cestat; CHA - Stay/Dispensation of Pre-deposit - In the absence of any evidence for the positive involvement of the CHA, prima facie, the penalties on CHA are not justified - Stay granted :Cestat; |
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2007-HRIOL-06-CIC.doc + cic story.doc Corporate entity cannot seek information under RTI Act; Information cannot be parted with at investigation stage : CIC; Govt Panel views PPP as key to reducing infrastructure deficit ; SEZ and FTAs ring in big trouble for tax kitty in 11 th Plan; Govt finalises new Toll Policy; Plans to switch over to Electronic Toll Collection; Remittances to non-residents : RBI asks dealers to deduct TDS; Punj Lloyd Group signs up for a new plant in UAE; ONGC CMD says Indian Global Compact Society to push for corporate role in CSR ; |
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