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India signs Double Taxation Avoidance Treaty with Mexico for Federal Income Tax; CBDT fixes Sept 17 as deadline for CCITs / DGITs to submit AGT compliance report; Lok Sabha passes Bill to amend Aircraft Act today; Online filing of documents : DGFT sets up helpdesk to assist exporters/ imports - Toll-free no is 1800 111 550; House proceedings stalled again as Opposition demands JPC on N-issue; Bad time for Hyderabad continues; Under-construction flyover collapses - 14 killed; 10 hurt; Govt to amend Maternity Benefits Act; to insert prison term for employers; Study indicates bank profits likely to dip this fiscal; |
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| Dear Member, Also sending you the following files: |
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2007-TIOL-276-ITAT-DEL.doc + Zarubezhneft story.doc Income Tax - Appellant assessees, expatriate employees of a non resident co. incorporated in Russia, claim exemption of remuneration paid to them for services rendered in India from taxability under IT Act on the basis of Article 15 of DTAA between India and Russian Federation - Revenue disallows on the ground that for availing exemption, all the 3 conditions laid down in Article 15.2 have to be fulfilled simultaneously whereas the assessee failed to fulfill the third condition in proving that remuneration paid to them was not borne by the PE of the employer in India - There is no doubt that to avail exemption under the said Article all three conditions laid out in Article 15.2 have to be fulfilled which assessee has been unable to do but since they claim that they can prove that remuneration paid to them was not borne by the PE of the employer, matter is remanded back to the file of A.O. for re determination accordingly : ITAT; Income Tax - Assessee, an association of persons, is engaged in the business of vending of liquor wherein the members make huge capital contribution - A.O. calls for sources of contribution by members but not being satisfied by confirmation of contribution adds the same as income u/s 68 and also estimates the profits at 10% of capital invested by rejecting the books of accounts - Where the capital contribution by members of AOP is made before the start of the business by the assessee AOP, as in the instant case, then the onus to prove the source of capital lies with the members and their failure to explain the same will lead to addition in their hands only and not in the hands of AOP and thus additions u/s 68 are not justified - Estimation of profits by rejection of books of account has reasonably been done by the A.O. as he had enough material before him to reject the same - Revenue's appeal partly allowed : ITAT; Income Tax - Assessee claims deduction u/s 80HHC which includes profit on sale of DEPB license - A.O. disallows inclusion of sale proceeds of DEPB for deduction u/s 80HHC on the ground that it is not covered by the Sec.28 (iiia), (iiib) & (iiic) - Taxation Laws (Amendment) Act, 2005 inserted clause (iiid) to Sec.28 with retrospective effect from 1.4.98 which laid down that profit from transfer of DEPB will be chargeable to tax under the head 'Profits and gains from business and profession' and simultaneously the scope of Explaination (baa) to Sec.80HHC has been enlarged to include sale of DEPB licences, and thus matter is remanded to A.O. to decide the allowability of deduction u/s 80HHC in light of the above amendment - (Para 4). A.O. makes addition on account of difference in valuation of cost of construction admitted by the assessee and as made by the valuation officer - A consistent view has been taken by this Tribunal that where the difference in valuation made by the valuation officer and the admitted cost of construction is less then 10% then no addition is to be made as difference of 10% is within tolerable limits - Addition disallowed as difference is of less then 10% - Revenue's appeal partly allowed - (Para 8) : ITAT; AO makes addition for excess payments attributed to PMS accounts - Issue is no longer res integra - Since it stands settled in favour of the assessee in its own case, revenue's appeal disallowed : ITAT; 2007-TIOL-492-HC-P&H-IT.doc + it story.doc Income Tax - Rectification of an error in assessment cannot be made based on subsequent findings : HC; |
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ORDER order238_2007.doc + order237_2007.doc CBEC issues mini transfer orders of Addl/JCs + AC/DCs ; NOTIFICATION CBEC notifies 8 th Amendment in Credit Rules - if duty is remitted under rule 21, Cenvat credit taken on inputs to be reversed; CASE LAWS 2007-TIOL-1322-CESTAT-MAD.doc + poultry story.doc CE - Poultry farm is a factory - substantive benefit of an exemption notification shall not be denied for a minor procedural lapse. Procedure, after all, is only an aid to justice :Cestat; 2007-TIOL-1321-CESTAT-BANG.doc Central Excise - Gases - Gases which were vented out in the atmosphere are exempted from excise duty - No merit is the impugned order - Appeal allowed :Cestat; 2007-TIOL-1320-CESTAT-BANG.doc Central Excise - Refund - Unjust enrichment - Once the Chartered Accountant has given a Certificate certifying that the element of duty has not been passed on to the Customer, the same is required to be accepted in the absence of a challenge of the said certificate by Revenue :Cestat; 2007-TIOL-1314-CESTAT-BANG.doc Central Excise - CENVAT Credit - No duty is payable on used machinery, on which credit is availed, are sold :Cestat; 2007-TIOL-1313-CESTAT-BANG.doc Central Excise - valuation - special discount of 15% for lifting the higher stocks is allowed in view of the earlier order of the CESTAT in respect of the same assessee - revenue appeal dismissed :Cestat;
SERVICE TAX SECTION Service Tax - Cenvat Credit can be utilized for payment of service tax on Goods Transport service as recipient of service - [ 2007-TIOL-555-CESTAT-DEL ] followed :Cestat; ST - Business support service - Assessee provides customercare, marketing and promotion of pre-paid cellular connections - Amnestay Scheme - Assessee takes registrationa and pays service tax - Revenue imposes penalty - Since the assessee's case is covered under the amnesty schemes, the revenue's order is not sustainable :Cestat; 2007-TIOL-1315-CESTAT-BANG.doc Service Tax - Consulting Engineer Services - In the absence of Show Cause Notice the impugned order is not sustainable :Cestat;
CUSTOMS SECTION NOTIFICATION DGFT notifies amendment in SION rates for Chemical group; CASE LAWS 2007-TIOL-493-HC-DEL-CUS.doc + metro hc story.doc Metropolitan Magistrate ought to have referred to the material placed before the Tribunal which resulted in a clean discharge rather than short circuiting the issue and applying SC decision in Standard Chartered Bank ( 2006-TIOL-16-SC-FERA-LB ) to hold that complaint was maintainable :HC; 2007-TIOL-1319-CESTAT-BANG.doc Customs - import - cess on coke - in terms of the clarification of Ministry of Coal, coke is final product of the coke plant - coke and coal are not the same - demand of cess set aside :Cestat; Where a CHA holds multiple licences falling under jurisdiction of different Commissionerates, the proceedings will have to be initiated simultaneously by all the Commissionerates, once misconduct on the part of a CHA is noticed at any Custom Station - On similar facts, the order of Commissioner of Customs, Mumbai, suspending the licence of the appellant, has been set aside by CESTAT, Mumbai - Since the facts are the same, a Co-ordinate Bench of the CESTAT, cannot take a different view on the same matter - CESTAT Majority order:Cestat; Appellant seeking direction to the Commissioner (Appeals) to implement the Tribunal's order - Department's appeal against the Tribunal's order was admitted by the High Court - CESTAT has no role to play and the appellants are at liberty to raise their grievance before the High Court :Cestat; |
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GST - Delegation of State Finance Ministers back from foreign tour - GST ready from 1.4.2010; Interest when duty is paid by DEPB debit – Board clarifies after one year; 123 Agreement - The strategic partnership; Service tax on builders : More to it than meets the eye; International Conference on Cyber Crime : CBI to seek close cooperation in investigation; ONGC panel favours turnkey pipeline jobs after CVC-advised review; KLG Systel's newly launched power solution qualifies for IBM Architecture; Reliance signs pact to acquire textile assets in Malaysia; Ranbaxy Lab receives WHO pre-qualification for three additional ARVs ; |
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