PM dubs 11th Five year plan as 'National Education Plan';

Small exporters seek exemption from FBT;

Noted social activist & Magsaysay award winner Baba Amte passes away; PM & Vice President condole his death;

N deal: US Ambassador says it is now or never deal;

NOTIFICATION

it08not023.pdf

CBDT notifies NHB zero coupon bond under rule 8B;

it08not021.pdf

CBDT allows expenditure of Oil Industry Development Board u/s 36 (1)(xii);

it08not019.pdf

India, Iceland DTAA notified;

CASE LAWS

2008-TIOL-79-HC-RAJ-IT.pdf

Income Tax - Petitioner is served with notice for reassessment u/s 147 against which present petitions are filed for non disclosure of reasons by respondent - Respondent objects on the ground of availaibility of alternative appellate remedy not availed - Where reasons are not assigned while issuing notice u/s 148 for reopening, the proper course is that the assessee raises an objection before the A.O. which is to be disposed off by him by passing a speaking order before proceeding with the assessment which is not done in the instant case by the assessee and it also failed to avail alternative efficacious remedy - Petitions dismissed.: RAJASTHAN HIGH COURT;

rlt084-Part4.pdf + rlt084-Part5.pdf

RLT Case Laws Headnotes;

CENTRAL EXCISE SECTION

2008-TIOL-80-HC-MAD-CX.pdf + mad cx story.pdf

Cenvat credit - Hydrochloric Acid to treat effluent, M.S.Angles / Channels, oxygen gas, acetylene gas, electrodes, welding wire, transformer oil – all entitled – no question of law to interfere with Tribunal's order: MADRAS HIGH COURT;

2008-TIOL-212-CESTAT-MAD.pdf

Central Excise – Stay /Dispensation of pre-deposit – Capital goods credit availed on ‘Transport Tanker with Chasis for liquid Gases' and ‘Tank Trailer Vacum Isolated for Cryogas'. The impugned goods was not used within the factory of the manufacturer of the final products, and no valid document evidencing proof of the duty paid against which credit could be taken was available. Prima facie no case made out by the appellant for waiver of pre-deposit. Pre-deposit of duty ordered. However, pre-deposit of penalty waived on compliance of order. (para 5): CHENNAI CESTAT;

SERVICE TAX SECTION

2008-TIOL-213-CESTAT-AHM.pdf

ST - Rent-a-Cab-Operator - Demand with interest and penalty raised - Assessee argues there was no service tax leviable on a single cab operator - Since the law underwent a change and the number of cabs is not relevant, the Revenue's demand is sustainable but penalty reduced: AHMEDABAD CESTAT;

CUSTOMS SECTION

NOTIFICATION

dgft07not077.pdf

Govt completely prohibits export of non-Basmati rice;

CASE LAWS

2008-TIOL-211-CESTAT-MAD.pdf

Customs – Valuation – parts of Sun brand computers imported – duty demanded by rejecting the transaction value and enhancing under Rule 8 of Customs valuation rules - Commissioner has not established convincingly that value of goods of technically comparable characteristics was adopted to assess the impugned goods - it essential that while employing principles of Valuation Rule 5 to determine the value of the electronic goods, the appraising authority does not adopt value of goods not shown to be of identical technical characteristics and brand. Valuation adopted by the Commissioner is arbitrary. Once the adjudicating authority gave a categorical finding that the impugned goods could not be considered to be identical to any other goods already imported, the Commissioner is barred from resorting to assessment following method under Rule 5 treating the goods under assessment as identical to goods already imported:CHENNAI CESTAT;

story.pdf

Punjab Govt setting up integrated check posts; facility to help in allowing faster VAT credit; Even Central Excise can verify input receiving invoices in J & K ;

mbuzz325.pdf

DRI seizes poppy seeds worth Rs 3 Crore being camouflaged as pulses;

mbuzz324.pdf

CBN makes huge seizure of acetic anhydride in Sagar and Lucknow;