MoF issues CST rate cut notification (See Common Basket);

FM approves CBEC Commissioners' transfer order; Order to be issued today;

Second Pay Revision Panel for CPSEs recommend 42% pay hike;

MoF issues CST rate cut notification;

malware story.pdf

Malware emerges as multi-million dollar criminal industry; Need for global partnership to tackle it;

mbuzz655.pdf

Second Pay Revision Panel for CPSEs recommend 42% pay hike ;

mbuzz654.pdf

A vision and strategy for growth of food processing sector;

mbuzz653.pdf

Kolkata Airport gets Public Investment Board nod for revamp ;

ORDER

cbdtorder72_2008.pdf

CBDT transfers 17 CCITs;

CASE LAWS

2008-TIOL-298-HC-P&H-IT.pdf

CIT, Chandigarh-II Vs Sh. Jarnail Singh Karta ( Dated: May 12, 2008 )

Income Tax - Assessee declares agricultural income on estimate basis - AO finds the yield on the higher side and disallows a part of the income - Tribunal allows it - Held, since the Tribunal's finding is based on examination of facts, unless the Revenue brings evidence on record to doubt the credibility of the documents furnished by the assessee, it is not a Revenue's case - Revenue's appeal dismissed : P & H HIGH COURT;

2008-TIOL-297-HC-RAJ-IT.pdf

CIT, Udaipur Vs The Bank Of Rajasthan Ltd, Udaipur ( Dated : January 23, 2008 )

Income Tax - AO sends notice to levy tax on interest receivable - Assessee files application u/s 154 - AO rejects it - CIT(A) allows it and Tribunal upholds the same - Unless the interest income is received, Revenue cannot levy tax on the same - Revenue's appeal dismissed : RAJASTHAN HIGH COURT;

CENTRAL EXCISE SECTION

2008-TIOL-850-CESTAT-MUM.pdf + marathwada story.pdf

M/s Marathwada Prestress Pvt Ltd Vs CE & CC, Nagpur (Dated: April 11 2008)

If, in a specific case, it is brought on record that the Cement bags were diverted to some other factory whereas the credit was availed for the full quantity, the needle of suspicion arises in respect of all other entries also : MUMBAI CESTAT;

2008-TIOL-849-CESTAT-BANG.pdf

V-Star Creations Pvt Ltd Vs CE & CC, Cochin (Dated: Febuary 5, 2008)

Central Excise – brand name – benefit of notification No 23/2001 CE can not be denied to the appellants as the brand name was not registered in the name of the appellants during the period of dispute though they applied for the same. : BANGALORE CESTAT;

2008-TIOL-848-CESTAT-BANG.pdf

M/s Vishwanath Sugars Ltd Vs CCE, Belgaum (Dated: Febuary 14, 2008)

Central Excise – Cenvat Credit – structural items used for manufacture of capital goods in Sugar plant are eligible for credit. : BANGALORE CESTAT;

SERVICE TAX SECTION

2008-TIOL-846-CESTAT-MUM.pdf

Duchem Laboratories Ltd Vs CCE, Mumbai-V (Dated: March 18, 2008)

ST - Refund - Assessee claims refund of tax paid for C&F service - Revenue rejects on the ground that retrospective amendment was done for the recipient to pay the tax - Since the co-ordinate bench has rejected the claim of the assessee on the same ground in a different appeal, the appeal is not sustainable : MUMBAI CESTAT;

2008-TIOL-845-CESTAT-MAD.pdf

M/s Cheyyar Co-Op Sugar Mills Ltd Vs CCE, Pondicherry (Dated: March 20, 2008)

Service Tax – Goods Transport Operator Service – demand of service tax for the period 16.11.1997 to 01.06.1998 – show cause notice issued after six months from 12.5.2000 is time barred. : CHENNAI CESTAT;

CUSTOMS SECTION

2008-TIOL-847-CESTAT-MUM.pdf

M/s Convertex Vs CC, Mumbai (Dated: Febuary 2, 2008)

Importer aggrieved by remand order of Commissioner(A) – since the order of lower authority is non speaking order passed without application of mind and in violation of the principles of natural justice, remand order is proper – Appeal rejected. : MUMBAI CESTAT;