Growing naxal assaults: Govt to hire more cops for ground-level intelligence gathering;

Musharaf issues Ordinance to gag media in Pakistan;

Emergency imposed in Pakistan; Chief Justice suspended; Army takes over all important judicial, administrative and media institutions;

CPM urges President to order judicial probe into alleged misconduct by former CJI Justice Y K Sabharwal;

Indian Ambassador to USA tenders unqualified apology before House Privileges Committee;

FM congratulates F D Engineer, 100-yr-old income tax payer from Secunderabad, for unique achievement; His return processed out of turn;

FM approves 12 FDI proposals worth Rs 212 Crore;

2007-TIOL-370-ITAT-MUM.doc

Income Tax - Assessee hires global consultants to assist it in floating GDR issue and pays for the services - AO for deduction of TDS u/s 195 and holds assessee in default u/s 201(1) and charges interest on late payment u/s 201(1A) - CIT deletes - Since DR concedes that the issue is no longer res integra as per Mumbai Bench order in Raymond case, revenue's appeal dismissed: MUMBAI ITAT;

2007-TIOL-369-ITAT-PUNE.doc

Wealth Tax - Assessees claims exemption for four properties from inclusion in taxable wealth on the ground that they are not assets in light of exclusion u/s Sec. 2(ea)(i)(5) - Revenue denies on the ground that the assessee's property is not a singular unit but four different properties at four different places thus cannot be exempted and, under Sec. 2(ea) any building or land appurtenent thereto whether used for residential or commercial purposes is an asset and exemption in sub clause (5) pertains to something different otherwise Sec.2(ea) will become redundant as every building used for commercial purposes will fall within the said sub clause - Sec.2(ea) lays down that any building and land appurtenent thereto whether used for residential or commercial purpose is an asset unless it falls within one of the exceptions laid out in sub clause (1) to (5) of clause (i) and sub-clause (5) includes property in the nature of commercial establishment or complex which means property not only by nature commercial but also used for trade or business and if a property satisfies the above test it is to be exempted - There is no contradiction between the main provision of Sec.2(ea) and exceptions as they have been provided to stimulate investment in productive assets - Exemption to be allowed on verification on these lines - Assessee's appeal partly allowed - (Para 16,17,18,19,20,21,27).: PUNE ITAT;

rlt082-Part9.pdf + rlt082-Part8.pdf

Latest Headnotes from RLT caselaws;

CENTRAL EXCISE SECTION

2007-TIOL-1694-CESTAT-BANG.doc + ssi story.doc

Central Excise SSI Notification 9/2003 - you cannot opt out during mid year - You pay duty at 9.6%; if you want to pay at 16%, not allowed: BANGALORE CESTAT;

2007-TIOL-1698-CESTAT-AHM.doc + excise story.doc

A little exaggerated claim to allure the customers is not uncommon in the trade – Pears face wash is not classifiable under Ch 3304 as beauty or makeup preparations for the care of skin: AHMEDABAD CESTAT;

2007-TIOL-1697-CESTAT-MAD.doc

Central Excise - withdrawal of exemption to cotton yarn in plain reel hanks with effect from 28.2.2002 - department demanded duty on the clearances alleged to be effected after the midnight of 27/28 th February - no opportunity was given to the appellants to cross-examine the persons based on whose statements the demand was raised - matter remanded: CHENNAI CESTAT;

2007-TIOL-1693-CESTAT-MAD.doc

Central Excise - transfer of Cenvat Credit to a new unit - rule 8 of the Cenvat Credit rules does not require that the quantum of credit transferred should be corresponding to the quantum of inputs physically transferred to a new factory - revenue appeal dismissed: MADRAS CESTAT;

SERVICE TAX SECTION

2007-TIOL-1695-CESTAT-MUM.doc

ST - Cenvat Credit on outward freight - Waiver from pre-deposit granted in view of conflicting decisions and the issue being referred to the Larger Bench: MUMBAI CESTAT;

2007-TIOL-1692-CESTAT-MUM.doc

ST - GTA Service - Asseessee pays service tax on GTA from Cenvat Credit available with it - Revenue disallows but Commissioner (A) allows - No restriction on utilisation of Cenvat Credit by manufacturing unit towards payment of service tax as a service provider - Revenue's appeal disallowed: MUMBAI CESTAT;

CUSTOMS SECTION

2007-TIOL-1696-CESTAT-MAD.doc

Customs - appeal dismissed for non-compliance with Section 129E of the Customs Act as the period suggested by the appellant himself for deposit of the amount in four equal monthly installments is over: CHENNAI CESTAT;

2007-TIOL-1691-CESTAT-MAD.doc

Customs - import of BMW car - non production of "type approval certificate" from any approved agency - these requirements can not be blindly relaxed - appellant should be given an opportunity to produce the requisite certificate in support of their claim of exemption from the operation of the licensing conditions - matter remanded.

Valuation - rejection of the declared value - it is settled law that, before proceeding to determine the assessable value of imported goods, the assessing authority should state reasons for rejecting the evidence adduced by the importer in respect of the value declared by him - the invoice produced by the appellant was not rejected in this manner - the declared value of the vehicle should be accepted.: MADRAS CESTAT;

suzuki story.doc

Heavy Industry Dept wants Suzuki arm to rework diesel engine tie-ups;

water story.doc

World Lake Meet urges Govts to prepare databank to preserve lakes and wetlands;

fdi clarify.doc

Govt clarifies 51% FDI in single brand product retailing allowed but subject to certain conditions;

mbuzz018.doc

Govt asks banks to promote solar water heating systems;

mbuzz017.doc

Raids on Mumbai Customs officers; CBI detects cash and assets worth Rs 75 lakh;

mbuzz016.doc

I-T raids major real estate group in Delhi; Rs 53 Cr surrendered;