Companies Act amendment bill to be tabled in Winter Session : Corporate Affairs Secretary;

Dr Shome says CST phase-out hinges on effective inter-state information exchange mechanism;

BJP national executive agrees to 33% quota for women within organisation;

NAFED scam : Delhi HC raps CBI for adopting different yardsticks for different types of offenders;

USD two billion capital gains tax case : Vodafone passes the buck on non-resident seller;

Govt to table Medical Devices Regulation Bill to enforce quality and uniformity in medical equipment;

2007-TIOL-517-HC-MAD-IT.doc

Income Tax - Assessee claims deduction u/s 80HHC and 80-I - A.O. disallows in reassessment proceedings and imposes penalty u/s 271(1)(c) - CIT(A) as well as Tribunal delete the addition on the ground that A.O. has not been able to establish that the assessee's claim is not bonafide - Penalty u/s 271(1)(c) is levied in case of concealment of income or furnishing of inaccurate particulars of income which has to be a deliberate act and mere negligence or ommission will not attract the provision and disallowance merely on difference of interpretation like in the instant case does not amount to concealment - Moreover when there is a concurrent finding by lower authorities, interference by High Court should not be called for - Revenue's appeal dismissed.;

2007-TIOL-516-HC-MAD-IT.doc

Income Tax - Revenue is in appeal against a public sector undertaking (PSU) - It is a settled law and mechanism that in case of a dispute between a government department and PSU, it should be first referred to the High Powered Committee to look into the matter and try and resolve it and only if it fails and allows, that the matter can be taken to court as such parties are limbs of the government and it will be against public interest and a wastage of time and money of courts and public if they quarrel amongst themselves and take up frivoulous litigation - Revenue in the instant case failed to take a clearance from the committee thus appeals not maintainable - Appeal dismissed : High Court;

RLT CASE LAWS HEADNOTES

rlt82-Part2.pdf + rlt82-Part3.pdf

CENTRAL EXCISE SECTION

2007-TIOL-1415-CESTAT-MUM.doc + excise story.doc

Since adjudicating authority dropped the demand both on merits and limitation and appeal was filed by Revenue before Commissioner(A) only on merits, order reached finality;

2007-TIOL-1414-CESTAT-BANG.doc

Central Excise - captive consumption of steel formers in induction furnace - demand hit by time bar as SCN was issued after 15 months of the issue of Board Circular;

2007-TIOL-1410-CESTAT-DEL.doc

Central Excise – exemption under notification 202/88 and 90/88 for the MS Rods manufactured from the material purchased from the open market - The department has not challenged the manufacture of MS rods and there is also no plea that the assessee has purchased some other scrap and not the one which is required for re-rollable scrap – revenue appeal dismissed :Cestat;

2007-TIOL-1409-CESTAT-DEL.doc

Central Excise - Application of Rule 57CC - Revenue treats bagasse as a by-product and imposes duty - Rule 57CC is applicable only where manufacturer is engaged in manufacture of excisable final product whereas bagasse is a waste and cannot be treated as final product - Duty cannot be charged simply because it is s mentioned in the schedule to Central Excise Tariff - Revenue's appeal rejected - (Para 5,6):Cestat;

2007-TIOL-1408-CESTAT-BANG.doc

Adjudication order pasted on the gate of the closed factory - Not proper service - 680 days delay - COD allowed :Cestat;

SERVICE TAX SECTION

2007-TIOL-1411-CESTAT-DEL.doc

ST - Mandap Keepr Service - Assessee avails 35% credit of service tax paid on telephone connected through EPBX - Revenue denies - If telephone connection is provided to the Mandap area even through EPBX, it prima facie satisfies the requirement of credit rules - Partial waiver from pre-deposit granted;

2007-TIOL-1406-CESTAT-MUM.doc

ST - Penalty imposed by adjudicating authority hiked by Commissioner (A) for repeated delay and lack of justifiable reasons - Since the tax with interest has been deposited and the Amnesty Scheme was also in force during the relevant period, penalty reduced :Cestat;

CUSTOMS SECTION

2007-TIOL-1412-CESTAT-MUM.doc

Refund - No question of unjust enrichment in case of goods consumed captively - Case pertains to year 2003 whereas section 18 of the Customs Act amended in the year 2006 - Appeal allowed with consequential relief;

2007-TIOL-1407-CESTAT-DEL.doc

Anti-dumping duty - Application for review under Rule 23 pending with DGAD - Direction for speedy consideration sought - DGAD ordered to dispose off application within eight weeks :Cestat;

power story.doc

Govt set to deny Customs duty waiver to dubious mega power projects;

it story.doc

Govt to provide IT-enabled services to rural India through Indian Post;

2007-TIOL-163-SC-CT.doc + tata story.doc

Sales Tax exemption/ deferment – Industrial Policy Resolution of the Government does not specify any time limit at the relevant entry - The only limitation prescribed thereby was that only 75% of the additional capital investment would be allowed where the unit of the respondent is situated – restriction of the exemption to five years is not legal – Orissa HC order upheld and the revenue appeal dismissed with costs : SC;

cbuzz401.doc

WIPO, SAARC to enhance cooperation on IP;