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Chennai Airport Customs seizes heroin worth Rs 5 Crore; Uncertainty continues over CST rate-cut; Centre-States dialogue fails to make any substantial progress in past one month; Next meeting scheduled for May 5; CBDT Chairman P K Mishra retiring today; Mr R S Mathoda to be new Chairman; LS Panel suggests code of conduct for Members but says no to codification of parliamentary privileges; Ashok Kumar Handa appointed as new CVO in CBDT for three years; EC Directive: No polling agent with criminal background to be appointed; MPs in House demand review of SEZ Act from misuse perspective; Nath agrees to it; Is Rental for hosting website on server a technical service? (Look for ITAT latest ruling tomorrow); House Panel recommends a role for Executive in appointment of Judges; |
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| Dear Member, Sending the following files: |
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2008-TIOL-84-SC-IT.pdf + SC it story.pdf K P Mohammed Salim Vs CIT, Cochin (Dated : April 24, 2008) Income Tax - Sec 127 - Search & seizure - Revenue transfers the case to a new jurisdiction for effective and coordinated investigation - Assessee's writ challenges the CCIT's decision - HC dismisses the writ - Assessee argues Sec 127 has no applicability to block assessment cases - The provisions of Sec 158BH categorically states that all other provisions of the Act shall apply to assessment made under the said Chapter and Section 127, which falls under Chapter XIII, would therefore mutatis mutandis apply to Chapter XIV-B particularly when the jurisdiction of the Income Tax Authorities relates to passing an order of assessment; and the word 'any' in Sec 127 must be read in the context of the statute and for the said purpose as it may in a situation of this nature, mean all - Assessee's appeal dismissed : SUPREME COURT ; Software Technology Parks of India Vs ACIT, Hyderabad (Dated : January 29, 2008) Income Tax - Software Technology Parks of India is not a government department or a public sector undertaking so as to necessitate the obtaining of the approval from COD - payment for use of foreign satellites – not royalty – TDS, no demand from the deductor, if the deductee has paid the tax, but interest payable : HYDERABAD ITAT ; DCIT, New Delhi Vs M/s NITS Softech Ltd (Dated : March 31, 2008) Income Tax - Search u/s 132 - AO issues notice u/s 158BD - Assessee alleges no satisfaction recorded before issue of notice and no date also mentioned in the notice - illegal jurisdiction - In the light of facts that neither the date of search conducted nor the date or any other details given in the notice and evidence indicates that no satisifaction was recorded before the completion of assessment and the issue of notice it is a case of casual approach and non-application of mind - Apex Court ruling in Manish Maheswari ( 2007-TIOL-24-SC-IT ) applicable and notice is found to be invalid and violative of the laws prescibed by the Supreme Court - Revenue's appeal dismissed : DELHI ITAT ; DDIT, Delhi Vs M/s Radha Rani Holding Pte Ltd (Dated : March 7, 2008) Income Tax - Assessee claims to be a non-resident company - AO treats it as a resident company and makes additions for unexplained cash credit u/s 68 - CIT(A) partly upholds the addition as it finds that the effective management and control of the company was in India albeit it was incorporated in Singapore - Assessee cannot be treated as resident in India as its control and management was not wholly situated in India - Revenue's appeal dismissed :DELHI ITAT ; |
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CBEC OFFICE ORDER CBEC transfers six Chief Commissioners; Rakesh Sharma is new DG of DGCEI;
M/s Mahindra Ugine Steel Co Ltd Vs CCE, Raigad (Dated : February 29, 2008) Appellant utilizing cenvat credit for the discharge of the service tax liability of the services received from Goods Transport Agency – issue no more res integra CCE, Bangalore Vs M/s BPL Ltd (Dated : February 19, 2008) Central Excise - Refund - Refund granted on basis of photocopy of challans. As unit is under closure and it is impossible to get hold of the original documents, considering the special circumstances of the case and the respondent being prepared to execute indemnity bond, refund allowed. (Para 4) . : BANGALORE CESTAT; CCE, Bangalore Vs M/s Apollo Power Systems (P) Ltd (Dated : February 19, 2008) Central Excise - Penalty - Issue being a question of interpretation and the respondent having taken remedial steps to correct the irregularity, setting aside of penalty imposed under Rule 25 is proper (Para 3) .: BANGALORE CESTAT;
SERVICE TAX SECTION 2008-TIOL-82-SC-ST.pdf + st story.pdf M/s Super Poly Fabriks Ltd Vs CCE, Punjab (Dated : April 24, 2008) Service Tax – consignment stockist for GAIL – C&F Agent? – Matter remanded : SUPREME COURT ; M/s S K Enterprises, Palakkad Vs CC & CE, Calicut (Dated : January 17, 2008) Service Tax – C & F activity - tax liability - commission received in respect of the C&F activity alone is taxable and not various other reimbursement which arise in the course of rendering the service like loading/unloading, coolie/cartage, handling freight charges etc : BANGALORE CESTAT; M/s Pampa Agency Vs CCE, Mangalore (Dated : January 1, 2008) Service Tax – clearing and forwarding agent – stay / dispensation of pre-deposit - valuation – reimbursable expenses are not includable in the value – prima facie case for waiver of pre-deposit. : BANGALORE CESTAT;
CUSTOMS SECTION NOTIFICATION Exporters can file interest claim before DGFT regional authorities in Aayat Niryat Form ANF-8A; Customs Exchange rate for imports goods & export goods for May; CASE LAWS 2008-TIOL-83-SC-CUS.pdf + revenue story.pdf UoI Vs Inter Continental, India (Dated : April 23, 2008) Customs – Board Circular cannot over ride notification: Central Board of Excise and Customs could not, by issuing a circular subsequent to the issuance of the notification, add a new condition thereby restricting the scope of the exemption notification. In relation to entry at Sr.No.29 no condition is prescribed. Similarly no condition is prescribed in relation to entry at Sr.No.34 or even in entry No.28 . If the Notification No.17 has not provided for any condition, in our opinion, subsequent circular cannot impose such a condition as the same would tantamount to rewriting Notification No.17 or in other words legislating by circular, which is not permissible in law. As can be seen from the relevant provisions with special reference to Section 25 read with Section 159 of the Act, a notification under Section 25 of the Act requires publication in the official gazette as well as requires tabling before both the Houses of Parliament and if that exercise has been carried out without any condition being imposed in the Notification No.17 it would not be permissible to permit revenue to impose such condition by way of circular. If the revenue is allowed to undertake such an exercise, the requirement of publication in official gazette and laying a notification before each House of the Parliament would become nugatory and such a course of action is not envisaged by the Act. It would give licence to the executive to bypass/override the legislature and cannot be countenanced .": SUPREME COURT; CCE, Pondicherry Vs M/s Auro Food Ltd, Pondicherry (Dated : January 16, 2008) Customs – import of crude sunflower oil under concessional rate of duty – the quantity imported is the quantity received in the importer's storage tank i.e. the shore tank - there was no shortage in the quantity imported and used in the manufacture of refined oil – no infirmity in the order of the Commissioner (Appeals). : CHENNAI CESTAT; |
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FM makes valiant attempt to control soaring prices and inflation – many tax sops announced in amendment to the Finance Bill 2008; Clarification on deduction of tax at source (TDS) on service tax component on rental income u/s. 194-I of the Income Tax Act; Notification 108/95-CE : Premature withdrawal! India takes substantial steps on climate change; Export of Indian Culture through films: Rs 21 Cr earmarked for XIth Plan; NFDC financed no films in last 3 yrs; HPCL takes over two sick sugar mills for ethnol production; |
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