Govt extends bid closing date for NELP-VII to May 16;

Govt decides to exclude creamy layer from OBC quotas;

Aiming at inflation control RBI hikes CRR by 0.5% to take out Rs 18500 Cr from market

CCEA gives nod Hindustan Coca Cola Holdings to invest Rs 205 Cr in Indian subsidiary;

BSNL to go private players' way; to appoint recovery agents;

2008-TIOL-224-HC-P-H-IT.pdf

M/s R B L Banarsi Dass & co. (P) Ltd, Ambala Vs CIT, Ambala (Dated : March 12, 2008 )

Income Tax - The jurisdiction of an Assessing Officer to rectify an assessment order under Section 154 of the Act is limited as he could make correction of errors apparent on the face of the record. : P & H HIGH COURT ;

2008-TIOL-222-HC-MAD-IT.pdf

M/s Keyaram Hotels Pvt Ltd Vs ACIT, Chennai (Dated : January 29, 2008 )

Valuation of property – question of fact - no question of law, much less a substantial question of law; the value of the property has been determined on the basis of the evidence adduced i.e., the documents produced by the assessee pertaining to the year 1982 and this amount has been fixed after taking stock of the factual situation of the locality by a personal visit. Hence, we are of the considered view that the fair market price fixed by the Commissioner, which has been affirmed by the appellate authority requires no re-consideration in this appeal, which is factual in nature.

For the above said reasons, we find no question of law, much less a substantial question of law so as to entertain this appeal. The appeal is dismissed. : MADRAS HIGH COURT ;

CENTRAL EXCISE SECTION

2008-TIOL-594-CESTAT-MUM.pdf + bounty story.pdf

CCE, Mumbai-V Vs Krishna Pandey (Dated : March 14, 2008)

Commissioner (Appeals) cannot grant bounties when not asked for – Tribunal. : MUMBAI CESTAT;

2008-TIOL-593-CESTAT-MUM.pdf

Hindustan Biologicals Vs CCE, Mumbai-II (Dated : March 25, 2008)

Caloshell correctly classifiable under chapter 30 as a medicament & not under heading 29.36 as a vitamin.

‘Caloshell' contains calcium carbonate from an organic source (oyster shell) and, vitamin D3 IP-125 IU and flavoured base – it is a formulation licensed as a drug under the Drugs & Cosmetics Act, 1940 - literature shows that the formulation is meant for curing the deficiency of calcium and vitamin D in children and for curing a disease known as rickets - dosages prescribed are as per the Indian Pharmacopoeia 1996 – even if it is accepted that the drug is basically a vitamin, since it is administered in measured doses as prescribed by the physician and licensed as drug under FDA Act it has to be considered as a medicament only - Caloshell correctly classifiable under chapter 30 as a medicament & not under heading 29.36 as a vitamin – Commissioner(A)'s order set aside & appeal allowed. : MUMBAI CESTAT;

2008-TIOL-591-CESTAT-MUM.pdf

CCE, Mumbai-V Vs Metal Press India (Dated : March 7, 2008)

Revenue seeking adjournments for getting some clarifications from jurisdictional authorities – Inspite of granting several adjournments, revenue unable to gather the same & argue its case – Revenue appeal dismissed. : MUMBAI CESTAT;

2008-TIOL-590-CESTAT-AHM.pdf

M/s Swastik Plastics Industries Vs CCE, Rajkot (Dated : January 17, 2008)

Central Excise – classification of HDPE Tapes, Fabrics and Bags – the goods were held to be classifiable under chapter 3920.32 and also the same was upheld by the Tribunal earlier and the matter was remanded for examining the eligibility of Modvat Credit - On remand the Assistant Commissioner did not extend the Modvat Credit, which was also upheld by the Commissioner (Appeals) – The appellants now seek benefit of Notification No.53/88 CE prevailing during the material period, which plea has not been raised at the earlier stages of the litigation - matter is remanded to the Adjudicating Authority for the limited purpose of examining the appellants' claim for exemption. : AHEDABAD CESTAT;

SERVICE TAX SECTION

2008-TIOL-592-CESTAT-KOL.pdf

CE,CC & ST, Bhubaneswar-II Vs M/s Vinshree Coal Carriers Pvt Ltd (Dated : January 16, 2008)

ST - Cargo handling service - Transportation of coal within the mining area not liable to pay tax during the relevant peirod : KOLKATA CESTAT;

2007-TIOL-03-ARA-ST.pdf

M/s Harekrishna Developers (Dated : April 7, 2008)

Service Tax – sale of constructed houses – liable to pay Service Tax under 'construction service' and not under 'works contract' : ADVANCE RULINGS ;

CUSTOMS SECTION

2008-TIOL-589-CESTAT-BANG.pdf

M/s Cargo Clear International Vs CC, Cochin (Dated : December 20, 2007)

CHA - Temporary Licence not to be extended if exam is not cleared : BANGALORE CESTAT;

pm story.pdf

PM for special courts for corruption cases and calls for more judicial posts and upgradation of judicial infrastructure;

ST se GST .pdf

Mathematics of reversal of Cenvat credit on input and input services used in manufacture of exempted products or services ;

2008-TIOL-223-HC-KER-CT.pdf + gammon story.pdf

Gammon India Limited Vs State of Kerala (Dated : March 19, 2008 )

Writ petition – alternate remedy – HC not to interfere even against illegal levy, when appellate channels are available : KERALA HIGH COURT ;

audit article.pdf

Central Excise : Gaping holes in proforma of quarterly audit report;

cst.pdf

TN Govt also clarifies 3% CST rate to continue until Notification reducing it to 2% is issued;

mbuzz535.pdf

Czech Republic offers India mobile airport technology for N-E ;

mbuzz534.pdf

Germany signs OECD-Council of Europe Convention on Mutual Tax Assistance ;

mbuzz533.pdf

Textile Minister to inaugurate hi-tech weaving park & NIFT Centre at Kannur ;

mbuzz532.pdf

Tata International gets environmental nod for leather plant at Dewas ;