Missing appeal file - CIC asks Central Excise Commissioner (Appeals) to reconstruct file (See 'DDT')

Crown debt: Who has the first right - Govt or Financial Institutions - SC reserves order;

Adverse entries in Annual Confidential Reports – Central Excise Officer loses in Supreme Court – Chief Commissioner is a very senior officer (See 'DDT')

Calicut Airport Customs seizes 14 kg Iranian variety saffron worth Rs 14 lakh;

MOF to further relax ECB norms soon;

Govt denies news related to stealing of documents of Netaji, Tagore & Sarojini Naidu from National Librar, Kolkata;

PSU honchos to pay damages to Govt if join firms they had dealt with in five years prior to retirement;

DGFT allows maize exports to African countries;

Export ban on rice to continue till Nov: Govt;

ddt 05 aug.pdf

Exemption from Additional Customs Duty for goods imported for subsequent sale – Refund claim to be filed within a year;

ice cube.pdf

Introduce single tax, single price for all petroleum products;

2008-TIOL-145-SC-MISC.pdf

Anil Mishra Vs UoI (Dated: July 30, 2008)

Estt – adverse entries in ACR - Chief Commissioner is a very senior officer – no bias can be attributed: SUPREME COURT;

2008-TIOL-07-CIC.pdf

Central Excise Commissioner (Appeals) asked to reconstruct missing file - CIC;

ADR_GDR_Pricegudelines.pdf

Proposed changes in the ADR/GDR's Pricing guidelines;

vacancy_ed.pdf

ED looking for Addl Director;

mbuzz848.pdf

Calicut Airport Customs seizes 14 kg Iranian variety saffron worth Rs 14 lakh;

mbuzz847.pdf

Power giants form JV for renewable power generation;

2008-TIOL-383-HC-MP-IT.pdf + silver story.pdf

DIT (Investigation) Vs Payal Selection & Company & ORS ( Dated : April 2, 2008 )

Silver seized by police - Income Tax Department cannot claim possession before case is decided: In the present case, the CIT was not in the possession of such information as to arrive to a conclusion that the silver pertains to undisclosed assets of the assessee. Moreover, silver was found in the possession of the employees of the respondent company and neither the police nor the CIT had at this stage of the proceedings gathered any information on record regarding the ownership of the silver to dispute the version of the respondent company. It was then fallacious on the part of the Chief Judicial Magistrate, Neemuch to have entertained the application under s. 132A of the IT Act and directed the handing over of the seized silver/assets to the Department: MADHYA PRADESH HIGH COURT;

2008-TIOL-382-HC-MAD-IT .pdf

CIT, Madras Vs M/s Tube Investments Of India Ltd ( Dated: July 18, 2008 )

Income Tax - Reassessment u/s 147 - AO first accepts the return but later issues notice u/s 148 - disallows deduction of interest by treating the same as capital expenditure - Tribunal sets aside the CIT(A) order against the assessee - Since the Tribunal has examined the facts in details and found that it was a mere change of opinion as the details of facts were available to the AO at the time of assesseement, Revenue's appeal not sustainable: MADRAS HIGH COURT;

2008-TIOL-381-HC-UTTARANCHAL-IT.pdf

CIT, Dehradun Vs M/s McDermott International Inc ( Dated : May 05, 2008 )

Income Tax - KVSS Scheme - Jurisdiction of CIT after the application of assessee was accepted under the Scheme - Tribunal holds that the Assessing Officer cannot be substituted by CIT in proceedings under Section 263 of the Act, after the settlement under the aforesaid Scheme - Held, order passed by CIT u/s 263, cannot be said to be without jurisdiction and the view taken by ITAT on that point cannot be sustained. What is required under Section 263 of the Act for cancelling an assessment under said Section is that not only the CIT should have reason to believe that the order passed by the AO is prejudicial to the interest of Revenue but also erroneous in law. No material on record to issue notice to cancel the assessment made by AO, to exercise powers under Section 263 of the Act, as such, the order passed by the ITAT, setting aside the order of CIT, under said Section needs no interference. Revenue Appeal dismissed.: UTTARAKHAND HIGH COURT;

2008-TIOL-380-HC-MAD-IT.pdf

CIT, Chennai Vs M/s Indbank Housing Ltd ( Dated: July 8, 2008 )

Income Tax - Re-opening of assessee u/s 147 - Assessee files return, disclosing details of interest on NPAs - AO reopens assessment twice on the ground of escapement of income - Since the assessee had disclosed all the facts related to interest on NPAs under the head 'provision for contingencies' and the AO had completed assessment u/s 143(3), re-assessment u/s 147 beyond a period of four years on mere change of opinion cannot be allowed: MADRAS HIGH COURT;

CENTRAL EXCISE SECTION

2008-TIOL-1246-CESTAT-MAD.pdf + tea story.pdf

Havukal Tea & Produce Co (P) Ltd Vs CCE, Salem ( Dated:July 1, 2008 )

One cannot suppress a fact which was never within his knowledge. Statutory documents like VAO's certificates have a presumption under Section 114 (e) of the Evidence Act, though rebuttable. Larger period not invocable if acted bonafide upon such documents : CHENNAI CESTAT;

2008-TIOL-1245-CESTAT-DEL.pdf

CCE, Jaipur-II Vs M/s Hindustan Zinc Ltd ( Dated:April 3, 2008 )

Central Excise – interest on finalization of provisional assessment – since the assessee paid differential duty before finalization of the provisional assessments, no interest is payable – no infirmity in the order of the Commissioner (Appeals) : DELHI CESTAT;

2008-TIOL-1244-CESTAT-AHM.pdf

M/s Tata Chemicals Ltd Vs CCE, Rajkot ( Dated: June 25, 2008 )

CENVAT Credit availed on inputs such as pet coke and furnace oil which are used as fuel for generation of electricity – Electricity is used captively by Soda Ash plant as well as Salt plant – Rule 6 not applicable to fuel prior to 16.05.2005 - Rule 6(3)(b) to be invoked at the stage of steam or electricity and 10% of the price of steam/electricity only payable

Credit not deniable on inputs used in manufacture of soda ash used for manufacture of brine which is further used for manufacture of salt as duty is paid on soda ash – Credit not deniable on packing material used for soda ash consumed for manufacture of salt since duty is paid on soda ash - Matter remanded to re-determine the quantum of penalty as liability is substantially reduced: AHMEDABAD CESTAT;

SERVICE TAX SECTION

2008-TIOL-1241-CESTAT-MUM.pdf + stgst.pdf

M/s HSBC Securities & Capital Markets (I) Pvt Ltd Vs CST, Mumbai ( Dated: June 26, 2008 )

Service tax - Providing Advisory services to an existing organization may prima facie not fall within the category of Management Consultancy Services – HSBC Securities gets a breather from CESTAT: MUMBAI CESTAT;

2008-TIOL-1240-CESTAT-DEL.pdf

M/s Modern Machinery Store Vs CCE, Jaipur-I ( Dated: April 11, 2008 )

ST - Authorised automobile service station - Penalty imposed for not paying tax on arranging loans from financial institutions on commission basis - Since there were initially some confusion about the new service and the assessee paid the tax with interest before issue of SCN on being pointed out, it is a fit case for application of Sec 80: DELHI CESTAT;

CUSTOMS SECTION

NOTIFICATION

ctariff08_095.pdf

CBEC amends 21/2002 to substitute ''Micronised Progesterone or Injection Progesterone'';

dgft08pn055.pdf

SION rate amended for Aluminum / Aluminum Alloy Cast Articles;

dgft08pn056.pdf

Jurisdiction of JT DGFT, Moradabad amended;

dgft08pn057.pdf

HSD & Furnace Oil supplied by oil companies to EoU/SEZ units: DGFT notifies NIL all industry rate of deemed export drawback;

dgft08cir024.pdf

EO under EPCG Scheme: DGFT issues clarification related to payment received in FEE by airport service providers;

CASE LAWS

2008-TIOL-384-HC-MUM-SEZ.pdf

M/s DLF Akruti Info Parks Pune Limited, SEZ Vs Union Of India ( Dated : July 31, 2008 )

Bombay High Court also halts export duty on clearances to SEZs: BOMBAY HIGH COURT;

2008-TIOL-1247-CESTAT-MUM.pdf + condonation story.pdf

M/s Shrita Impex Pvt Ltd Vs CC, Mumbai ( Dated:June 24, 2008 )

Certificate from Department of Psychiatry is not sufficient to hold that the MD was incapacitated from filing the appeals – Seven year delay not condoned by Tribunal: MUMBAI CESTAT;

2008-TIOL-1243-CESTAT-AHM.pdf

CC, Ahmedabad Vs M/s SPA Petroleum Products Pvt Ltd ( Dated: June 24, 2008 )

Import of mixed fatty acid oils – Assessee claimed classification under Chapter 38231900 - Chemical examiner's report states that there is no presence of the animal fat and the samples are other than the mixed fatty acid oils, degrass and vegetable waxes – Original authority classified the goods under 15180040 – Commissioner (Appeals) classified the same under 15180039 – Member (Judicial) agreed with Commissioner (Appeals) and Member (Technical) sided with Original Authority – Matter to be placed before Third Member for resolution: AHMEDABAD CESTAT;

2008-TIOL-1242-CESTAT-MAD.pdf

M/s Transport Logistics Vs CCE, Chennai ( Dated: April 4, 2008 )

Customs – Stay / dispensation of pre-deposit - export - misdeclaration of quantity – penalty on CHA - there is no definite finding of the involvement of the CHA in the offence found against the exporter - The finding is speculative and therefore the penalty imposed on them on a finding of abetment of the offending transaction is prima facie not sustainable. The appellants have made out a prima facie case against the penalty imposed on them: CHENNAI CESTAT;