CBDT disburses Rs 230 Cr reward to informers last fiscal;

Coast Guard recommends levy of penalty for polluting ships;

Deora tables Rajiv Gandhi Institute of Petroleum Technology Bill 2007 in Rajya Sabha;

MRTPC receives two complaints against car manufacturers - Hyundai + Maruti - in last three years;

Govt to set up Institute to study impact of global warming and climatic changes;

Parliament approves Bill for OBC reservation in apprenticeship training;

Cabinet okays extradition treaties with Egypt + Mexico + Council for Promotion of Overseas Employment + construction of Chancery and staff residences for Embassy of India in Kathmandu;

Committee on Infrastructure approves new Model Concession Agreement for PPP projects;

Ministry of New and Renewable Energy proposes to set up SEZ for production of equipment required to achieve total electrification of all remote villages by 2012;

2007-TIOL-272-ITAT-PUNE.doc + patni story.doc

Income Tax - Assessee has a trading PE in Japan - Losses by the PE - Assessee claims deduction for the same against its income chargeable to tax in India - AO declines - Deduction cannot be disallowed as per law even though it can be a case of 'double dip' whereby the assessee make claim deduction in subsequent year for the losses of the PE and also deduction in India - Sec 90 - Provisions to apply to the extent these are more beneficial to the assessee - Revenue's appeal disallowed :ITAT;

2007-TIOL-271-ITAT-DEL.doc

Income Tax - Assessee claims deduction u/s 80-IA in respect of income from duty drawback and DEPB - Issue no more res integra as it is settled that income from duty drawback and DEPB do not constitute income derived from industrial undertaking and thus not an allowable deduction u/s 80-IA - Assessee's appeal dismissed :ITAT;

2007-TIOL-487-HC-MUM-IT.doc + itat power story.doc

ITAT has the power to extend stay, even after the 2007 amendment - identical cases in Central Excise followed : HC;

2007-TIOL-486-HC-P&H-IT.doc

Income Tax - CIT(A) sets aside the assessment u/s 263 being erroneous and prejudicial to the interest of revenue on account of some unrecorded purchases - Tribunal sets aside the order on the ground that the source of all purchases made outside the books of accounts stands fully explained - Revenue objects on the ground that there is enough material to show that order passed by the A.O. is prejudicial to the interest of revenue and thus order u/s263 should be upheld - Revenue has failed to bring out any other material which has not been considered by Tribunal while accepting the explaination of assessee - Reference against revenue : HC;

2007-TIOL-485-HC-DEL-IT.doc

Income Tax - Assessee, a private limited co. employing foreign nationals, deposits TDS deducted from salary of its employees - Revenue imposes interest u/s 201(1A) for short deduction of TDS for the relevant AYs - Assessee objects on the ground that for the year 1999-2000 it was informed by its expatriate employees of their income from foreign cos. only in the month of March thus it could deduct tax only once as was informed, and for the AY 2000-01 short deduction is alleged with respect to performance incentive which is not a mandatory payment and thus no deduction can be made unless incentive is actually given - Sec.192(1) requires deduction of TDS by the employer from the salaries of its employees on estimate income and as per Sec.192(2) where an employee is in service of more then one employer he has to inform the employer responsible for deduction of TDS about its receipts under the head salaries and the liability of such employer is triggered only on being informed of such receipts - In the instant case since respondent assessee was informed by its expatriate employees of their other receipts only in the month of march it couldn't have deducted tax before that and the case of performance incentive is not of short deduction as such incentives are not mandatory contractual payments and depend on the performance of assessee which may not be paid also in case where performance does not call for it - Revenue's appeal dismissed : HC;

CENTRAL EXCISE SECTION

2007-TIOL-488-HC-P&H-CX.doc + penalty cx story.doc

No penalty if suppression, mis-statement etc, are not even alleged: HC;

2007-TIOL-1305-CESTAT-SRINAGAR.doc + jk story.doc

J&K exemption – education cess also to be refunded :Cestat;

2007-TIOL-1304-CESTAT-AHM.doc

Scrap of packing material & of old and used capital goods (non modvatted) cannot be considered as scrap arising out of the manufacture of pharmaceutical products and hence they are not liable to excise duty:Cestat;

2007-TIOL-1303-CESTAT-DEL.doc

Central Excise - Short levy - Notice under Sec.11A - It is not a case of revenue that cost of any of the goods have ever been understated or incorrect - Assessee's appeal allowed - (Para 12):Cestat;

Cenvat Credit – reversal under protest – the assessee  has reversed the cenvat credit under protest, it is not correct on the department to vacate the protest saying that there is no dispute – impugned order is set aside and appeal allowed :Cestat;

SERVICE TAX SECTION

2007-TIOL-1301-CESTAT-MAD.doc

Service Tax – Consulting Engineer – The advice is an advice only and does not involve any physical work – In consultancy there is no physical work – Technical assistance cannot involve any physical work such as repairs/maintenance/servicing :Cestat;

2007-TIOL-1300-CESTAT-BANG.doc

Service Tax - Tour operator - Society is not collecting taxi fare from passengers for tour operator services - The taxi drivers paying from Airport to place of destination cannot be considered as operating tours in a tourist vehicle - No merit in the impugned orders - Set aside :Cestat;

CUSTOMS SECTION

INSTRUCTION

Instruction.doc

No cess on textiles and textile machinery : CBEC asks Customs to upgrade EDI 'directories';

CASE LAWS

2007-TIOL-1299-CESTAT-MUM.doc

The telephones imported by the appellants are complete telephones and not parts thereof - Software imported along with the telephones is only an accessory to the phone - Value of software is not includible in the value of telephones imported by the appellants :Cestat;

2007-TIOL-1298-CESTAT-KOL.doc

Customs - Opinion of the adjudicating authority cannot travel beyond the direction of the Tribunal :Cestat;

ddt 7 aug.doc

Import of scrap rubber tyres and gypsum from Muldwarka port allowed;

editorial.doc

Time running out for judicial reforms?

cbuzz362.doc

Financial Tech ties up with University of Mauritius Trust for 'Centre for Organised Markets';

cbuzz361.doc

Zensar offers tech collaboration to 33 universities in Hubei Province of China;

cbuzz360.doc

Sintex Inds to acquire automotive business of Bright Brothers for Rs 1.49 bn;