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FM to flag off insurance scheme for poor on October 2; PM decides to extend rural job scheme to all districts; 100 days employment guaranteed; FBT on ESOPs : CBDT planning to issue valuation guidelines in next 10 days; Govt has no intention to frame fresh law to regulate e-waste; Govt issues show cause notice to Red FM for airing racist remarks; Yet another rectum case - Chennai Airport Customs seizes 942 precious stones; Maywati Govt is on suspension spree; sacks 7400 more policemen + 7 IPS officers; Cong strongly defends deal before meet with Left; A showdown in the offing; |
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| Dear Member, Also sending you the following files: |
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ORDER CBDT Additional charge order of CCITs ; CBDT issues transfer order of 12 Addl/JCIT/DCIT; CASE LAWS Income Tax - Assessee constructs a building for business purposes on land taken on lease and claims it as revenue expenditure - Revenue disallows it treating it as capital expenditure on the ground that Explanation 1 to Sec. 32(1) is attracted - Explaination 1 of Sec.32(1) is attracted where a person takes a building on lease for business purpose and makes capital expenditure by way of renovation, addition etc. for purposes of business whereas in the instant case the assessee had not taken a building on lease but constructed a building on land taken on lease thus provisions of explaination1 of Sec.32(1) is not attracted in the instant case and entire construction cost is to be taken as revenue expenditure - Revenue's appeal dismissed - (Para 4.1,4.2,4.4): High Court; 2007-TIOL-316-ITAT-CHD.doc + itat story.doc Gift-tax in case of deceased donor is to be recovered from the estate of the deceased and notice to assess gift by a deceased person has to be served on all legal representatives of the deceased - notice to only one heir illegal; |
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RLT Case Laws Headnotes;
NOTIFICATION Govt exempts from central excise duty brooms of twigs or other vegetable materials, with or without handles; CASE LAWS 2007-TIOL-1470-CESTAT-DEL.doc + generator story.doc Once declaration is filed under rule 173B claiming concessional rate of duty under notification 9/99-CE, mid-way through F.Y assessee cannot claim 8/99-CE on the ground that no option under paragraph 2(ii) of 9/99-CE was exercised :Cestat; Central Excise - Powers of adjudication - In terms of Board's Circular dt. 27.2.97 the AC/DC can decide the cases where in duty involved upto Rs. 2 lakhs - The impugned order set aside - The jurisdictional Commissioner is at liberty to adjudicate the SCN in accordance with law:Cestat; Central Excise - Unaccounted finished goods found within factory premises - Confiscation and penalty - Commissioner(A) upholds duty and penalty but sets aside confiscation and redemption fine - Finished goods lying unaccounted within the premises are violative of rules and thus liable for confiscation and fine regardless of reasons for goods being unaccounted - Revenue's appeal upheld - (para 6 :Cestat; 2007-TIOL-1472-CESTAT-MUM-LB.doc Central Excise - Classification - Plain but labelled composite paper container - Classifiable under Heading 4818 upto 1.3.1988 and under Heading 4819 afterwards; 2007-TIOL-1473-CESTAT-SRINAGAR.doc Central Excise - exemption under Notification 56/02 CE - delay of sanction of refund forced the assessee to avail the credit - Due to explicity of the procedure as laid down under the notification the confines of the procedure under Rule 8 and Section 11 need to be interpreted to accommodate the assessee and not to penalize him for no fault of his. It is high time that the human face of the administration gets revealed in such queer moments and not the iron clause (if not claws) that may end up harassing the honest tax-payers - Commissioner (Appeals) order setting aside demand of interest upheld; SERVICE TAX SECTION ST - GTA service - Demand of tax for the period 16.11.1997 to 1.6.98 - Issue is no longer res integra - Revenue's appeal dismissed; CUSTOMS SECTION Customs - exemption under notification 64/88 Cus dated 1.3.88 - the appellant is not eligible for exemption for non-compliance of the condition of free treatment to 40 per cent of total outdoor patients- appeal dismissed :Cestat; 2007-TIOL-539-HC-MUM-EXIM.doc + cus story.doc Abrupt withdrawal of Cash Compensatory Support - damages granted by single judge quashed on government appeal - matter remanded; |
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2007-HRIOL-11-CIC.doc + rti story.doc Ministries/Department asked to refrain from issuing certificate as to which organisation qualifies to be a 'public authority' - it is for the Commission to examine the same under the RTI Act ; CBN workshop on precursor control for importer and exporter well-attended; Dr Reddys is now in Philippines; Tata Sons bags award from UK Govt; Ansal Properties enters into MoU with UEM (Mauritius) Co. Ltd ; |
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| Regards Taxindiaonline.com Pvt. Ltd. |
