TIOL wishes its netizen a very happy Dussehra;

FM to go on three-day tour Norway on Tuesday;

Thanks to NRIs India tops foreign remittance receivers' list with USD 25.7 bn last fiscal : WB report;

FM tells IMF massive capital inflows making macro economic variables' management a big challenge for India;

Govt notifies 8.5% EPF rate for last fiscal;

Health Minister says Govt planning national policy for obtaining organs;

UP Cabinet gives in-principle approval for introduction of VAT;

TRAI proposes, DoT disposes - Min subscribers' criteria enhanced for additional spectrum;

Govt says no cap on number of telecom access providers in any services area;

2007-TIOL-346-ITAT-AHM.doc + interest story.doc

Income tax - Assessee claims interest on interest payment u/s 234B and 234C - AO rejects the claim on the ground that the interest is payable only on the excess payment of tax and penalty u/s 244A - CIT(A) allows claims - Interest on refund of interest paid u/s 243B of the Act allowed - Revenue's appeal disallowed : AHMEDABAD HIGH COURT;

2007-TIOL-347-ITAT-MUM.doc

Income Tax - Invocation of powers u/s 263 - CIT orders re-opening of the assessment - Assessee alleges the assessment order passed u/s 143(3) read with Sec 147 barred by limitaiton - Revenue argues the period is to be calculated from the date of re-assessment u/s 147 - Order u/s 263 passed beyond the period of two years from the date of passing the original assessment order, is barred by limitation - Revenue's appeal dismissed: MUMBAI ITAT;

CENTRAL EXCISE SECTION

2007-TIOL-1609-CESTAT-MUM.doc + excise story.doc

Commissioner making a new case on a basis that is altogether different from that in the demand made - Prima facie strong case on merits - Pre-deposit of duty & penalty dispensed by Tribunal and stay granted. CESTAT MUMBAI;

2007-TIOL-1608-CESTAT-BANG.doc

Central Excise Cenvat - when credit is reversed, exemption has to be allowed: BANGALORE CESTAT;

2007-TIOL-1602-CESTAT-DEL.doc

Bar of unjust enrichment is applicable even in case of issuance of credit notes -The certificates issued by the customers did not indicate that the excess duty was not passed on to the customers - The appellants did not produce any evidence showing that the amounts in question have not been passed on to the customers- Refund claim correctly rejected on grounds of unjust enrichment : DELHI CESTAT;

2007-TIOL-1601-CESTAT-DEL.doc

Central Excise - Appellant assessee, a manufacturer of sugar molasses, claims refund of education cess paid on stock lying on 8.7.2004 when removed under subsequent invoices as the cess was leviable only on production after that date - Revenue rejects on the ground that incidence of taxation is passed on to the customers - Assessee objects on the ground that there is no price variation of sales prior and subsequent to the cess thus doctrine of unjust enrichment cannot be invoked - Uniformity in prices before and after imposition of cess cannot lead to an inference that incidence of duty was not passed to the customers as uniformity could be due to various factors and moreover there is clear documentary evidence of recovery of cess in the instant case in the form of invoices reflecting education cess thus mere assertion that cess was borne by appellant cannot help him - Assessee's appeal dismissed - (Para 5,6). : DELHI CESTAT;

SERVICE TAX SECTION

2007-TIOL-1606-CESTAT-MAD.doc

Service tax - Clearing and forwarding agent - the vacillating stand of the department is abundantly clear from the documents on record -by taking different views at different points of time as regards the nature of the service rendered by the appellants, the departmental authorities themselves landed the assessee in total chaos and confusion - they are not entitled to invoke extended period of limitation: MADRAS CESTAT;

2007-TIOL-1603-CESTAT-MUM.doc

ST - GTA Service - Exemption to SSI unit - Assessee claims refund of serive tax paid ''under protest'' - Lower authorities accept the contention but refund claim rejected on the ground of unjust enrichment - Since the CA has certified that the incidence of tax was borne by the assessee, refund claim is valid - Revenue's appeal dismissed : MUMBAI CESTAT;

CUSTOMS SECTION

NOTIFICATION

dgft07pn071.doc

Focus Market Scheme benefits : DGFT amends policy for acceptance of tracking report from goods carrier as evidence of exports;

CASE LAWS

2007-TIOL-1604-CESTAT-BANG.doc + refund story.doc

Customs - refund - Claim filed before finalization of provisional assessment - effective challenge.

Unjust Enrichment - Chartered Accountant's certificate can be accepted as proof. : BANAGALORE CESTAT;

2007-TIOL-1607-CESTAT-AHM.doc

The amount paid towards duty at the time of provisional release of seized goods is only a 'deposit': AHMEDABAD CESTAT;

airport story.doc

Govt mulls liberalisation of greenfield airports construction;

cbuzz480.doc

Chennai Airport Customs seizes IC worth Rs 11 lakh being smuggled out to Singapore;

cbuzz479.doc

Reliance Comm pays up Rs 1651 Cr fee for GSM Services;

cbuzz478.doc

Moser Baer to raise USD 100 mn for its photovoltaic subsidiary ;