Income Tax - Assessee is Singapore-based Co - Is referral fee paid by Indian entity taxable? (Look for Advance Ruling on Monday)

UPA Govt all set to go ahead with N-deal; to ignore Left objection;

Govt today gives nod to proposal to bring industries with 10 or more employees under EPF;

President elevates four Addl Judges of Guwahati HC to full-time judge level';

2008-TIOL-06-CIC.pdf + cic appeal story.pdf

Application makes an incoherent reading – there is no reason why resources of public authority should be wasted – CIC dismisses Superintendent's appeal;

aircraft story.pdf

Import of 270 aircraft by industrial houses: Customs suspects duty evasion of Rs 9000 Crore; seizes and releases Reliance aircraft; demands Rs 100 Cr duty from Reliance alone ;

2008-TIOL-05-CIC.pdf + shah story.pdf

CIC delivers major ruling – s.4(1)(d) not to be seen as commandment - seeking reasons for decision which has been already taken by authority cannot be regarded as existing 'information' as defined under s. 2(f) of RTI;

mbuzz774.pdf

Germany and Jersey join hands for exchange of tax information;

2008-TIOL-298-ITAT-DEL.pdf

M/s Silver Oak Laboratories Pvt Ltd Vs ACIT, New Delhi ( Dated : February 22, 2008 )

Income Tax - Assessee is a jobworker for M/s Oriflame - claims deduction for artwork, proofing and design charges for packing - AO treats it as capital expenditure - CIT(A) confirms it - In view of settled law, additions deleted and expenditure allowed as revenue expenditure - Assessee's appeal allowed : DELHI ITAT;

2008-TIOL-333-HC-HP-IT.pdf

CIT Vs Dalip Chand And Sons ( Dated : January 2, 2008 )

Income Tax - Sec 40A(3) - Whether two or more payments in cash in a single day can exceed Rs 10,000 – Held, normally this cannot be done, and it is for the assessee to show that when he made the first payment he was not aware that the second payment was to be made. Revenue's appeal allowed : HIMACHAL PRADESH HIGH COURT ;

CENTRAL EXCISE SECTION

2008-TIOL-1055-CESTAT-MAD.pdf + cenvat story.pdf

M/s Kyungshin Industrial Motherson Ltd Vs CCE, Chennai (Dated : April 17, 2008)

Cenvat Credit taken wrongly, but not utilized – No interest & penalty – It is obvious that Section 11 AB Provides for recovery of interest, on amounts of due duty not paid in time, for the delay in payment. Interest is recovered as compensation to the State for depriving it use of the money for the duration of delay. In the instant case there has been no utilization of credit. The same remained in the account and was reversed before the issue of show Cause Notice. In the circumstances I find that the demand of interest and imposition of penalty on the appellants is not sustainable. :CHENNAI CESTAT;

2008-TIOL-1054-CESTAT-DEL.pdf

M/s Hindustan Zinc Limited Vs CCE, Jaipur-II (Dated : January 8, 2008)

Electrical items like sockets, switches, plugs, junction boxes, etc. are used for running the plant, Jointing sheet and Leak repair clamp are used in plant to prevent leakage – Modvat/cenvat Credit available.

Tyres and Tubes are capital goods – credit available.

Steel Wire ropes – credit available in view of Tribunal decision in KCP Ltd. vs. CCE, Guntur 2005-TIOL-1413-CESTAT-BANG .

Credit taken on original copy of invoice – credit rightly denied.

Pneumatic cylinders – no declaration filed under rule 57G/57T – credit not available. : DELHI CESTAT;

2008-TIOL-1051-CESTAT-BANG.pdf

M/s Balaji Galvanising Industries Ltd Vs CC & CE, Hyderabad (Dated : February 28, 2008)

Wire – drawing – not manufacture – credit eligible : BANGALORE CESTAT;

2008-TIOL-1050-CESTAT-DEL.pdf

M/s Sangam Structurals Ltd Vs CCE, Allahabad (Dated : January 9, 2008)

Central Excise – allegation of removal of goods on the same invoice again and again and the firm to which the clearances were made as non existing – no evidence adduced to support the allegations - no investigation was conducted regarding sales tax paid by the trading firm – impugned orders not sustainable. : DELHI CESTAT;

SERVICE TAX SECTION

2008-TIOL-1053-CESTAT-DEL.pdf

M/s Bharat Sanchar Nigam Ltd Vs CCE, Meerut (Dated : May 7, 2008)

ST - IUC service - Revenue demands tax - In view of Board's Circular the assessee is not liable to pay tax for period prior to the dates when the amended definition of 'telecommunication service' came into effect vide Finance Bill, 2007 : DELHI CESTAT;

2008-TIOL-1049-CESTAT-MUM.pdf

CCE & CC, Goa Vs Essel Propacks Limited (Dated : April 25, 2008)

ST - Cenvat Credit - Issue is decided in favour of the assessee as credit on service tax paid on GTA service cannot be denied :MUMBAI CESTAT;

CUSTOMS SECTION

NOTIFICATION

dgft08pn044.pdf

DGFT makes amendments related to DFIA scheme in the Hand Book of Procedures, Vol. I (RE-2008);

dgft08pn043.pdf

DGFT excludes agency commission for calculating FoB value of export;

dgft08pn042.pdf

DGFT amends 'General Note for Fuel' import;

CASE LAWS

2008-TIOL-1052-CESTAT-MAD.pdf

M L Kunjumon Vs CC, Cochin (Dated : April 29, 2008)

Customs – smuggling of silver – penalty imposed for abetment of smuggling of contraband is in accordance with law – However, considering facts of the case, penalty on the appellant is reduced to Rs 1 lakh. :CHENNAI CESTAT;