US puts India on 'Watch List' for failure to protect IPRs of US Companies from piracy;

Farm loan waiver : FM says every suggestion to expand ambit of scheme under examination ;

2008-TIOL-242-HC-P-H-IT.pdf

CIT, Patiala Vs Shri Jai Parkash (Dated : March 25, 2008 )

Income Tax- penalty is not imposable as there was no conscious breach of law by the assessee and still there was a time available to file the return : P & H HIGH COURT ;

rlt085-Part5.pdf + rlt085-Part6.pdf

RLT Case Laws Headnotes;

CENTRAL EXCISE SECTION

2008-TIOL-633-CESTAT-MUM.pdf

M/s Tirupati Pipe & Allied Industries Pvt Ltd Vs CE & CC, Nashik (Dated : January 4, 2008)

As Commissioner (Appeals) has travelled beyond the grounds given in the show cause notice, his order cannot be sustained as refund claim can be rejected only on the ground mentioned in the show cause notice. : MUMBAI CESTAT;

2008-TIOL-632-CESTAT-MAD.pdf

CCE, Chennai Vs M/s Indian Additives Ltd (Dated : January 17, 2008)

CE – Penalty: The assessee paid the credit relatable to the shortages though the same was apparently not payable by them. The respondents availed credit of duty paid and obviously bona fidely. In the facts of the case imposition of any penalty on the respondents does not seem justified. In the circumstances, the prayer of the Revenue for enhancing the penalties sustained in the impugned order is devoid of any merit. : CHENNAI CESTAT;

SERVICE TAX SECTION

2008-TIOL-631-CESTAT-BANG.pdf

M/s Wipro Ge Medical Systems Pvt Ltd Vs CST, Bangalore (Dated : March 14, 2008)

Service Tax – Value of Spares and Parts used in the execution of maintenance contract, cannot be included to arrive at the Service Tax payable on Maintenance Contract – Stay allowed and waiver of pre-deposit of the balance disputed amount . : BANGALORE CESTAT;

CUSTOMS SECTION

NOTIFICATION

dgft08pn009.pdf

Withdrawal of exports sops on skimmed milk products : DGFT issues clarification;

dgft08pn008.pdf

DGFT amends Appendix 17 of the Handbook of Procedure(Vol. I);

CASE LAWS

2008-TIOL-630-CESTAT-MAD.pdf

Food Express Stores (India) Ltd Vs CC, (Seaport-Imports) Chennai (Dated : March 14, 2008)

Customs – valuation – advance paid not included in the value for payment of duty – the assessee appears to have conducted themselves in good faith and requested for cancellation of out of charge which was declined by the Customs - Instead of resorting to such amendment procedure, the authorities chose to book a case of misdeclaration of value of goods against the party – impugned order set aside and the proper officer is directed to permit amendment of Bill of Entry. : CHENNAI CESTAT;

sebi story.pdf

SEBI allows MFs to invest in realty sector; puts curbs on investment in real estate asset owned by sponsor company;

gene story.pdf

CSIR scientists architecture genetic profile of Indian populations;

RBI Notifi For Interest Rate.pdf

RBI notifies interest rate ceiling on rupee export credit;