Sports activities as 'Professional Services': CBDT notifies sportspersons, anchors, sports columnists, umpires/referees, team physicians under Sec 194J (See 'Direct Tax Basket')

No slow-down in the growth of economy - CBDT clarifies;

400 TV Channels already given permission; 150 more applications pending: I&B Secretary;

UN study identifies India among three other Asian countries as global warming hot-spot nations;

India capable of generating 5 trillion units of power: Minister;

Indian Leather Development Programme launched for XI Plan Period;

2008-TIOL-409-HC-DEL-SERVICE.pdf + group a story.pdf

Ashok Kumar Pandey Vs UoI (Dated: August 19, 2008 )

Wrong calculation of vacancies – No Relief to Direct recruit appraisers: If the posts and postings made in 1992 are disturbed today, it would cause an immense disruption to a very large number of persons in the service, over a considerable period of time. Moreover, like Bablani , the Petitioners in this case have no right to hold a particular post. Furthermore, no mala fides have been alleged against anybody, and there is no overriding reason warranting a settled position (unfortunately for the Petitioners) to get unsettled after such a long lapse of time: DELHI HIGH COURT;

rbi story.pdf + rbi08cir011.pdf

Opening and maintenance of Rupee: Foreign Currency Vostro Accounts of Non-resident Exchange Houses: RBI extends cap on number of drawee branches under Rupee Drawing Arrangements;

2008-TIOL-156-SC-FEMA.pdf + sc ed story.pdf

Monotosh Saha Vs Special Director, Enforcement Directorate ( Dated: August 21, 2008 )

Waiver of pre-deposit - Where denial of interim relief may lead to public mischief, grave irreparable private injury or shake citizens' faith in the impartiality of public administration, interim relief can be given; There can be no rule of universal application in such matters and the order has to be passed keeping in view the factual scenario involved. Merely because this Court has indicated the principles, that does not give a license to the forum/authority to pass an order which cannot be sustained on the touchstone of fairness, legality and public interest. Where denial of interim relief may lead to public mischief, grave irreparable private injury or shake citizens' faith in the impartiality of public administration, interim relief can be given.”

Tribunal while dealing with the application has to consider materials to be placed by the assessee relating to undue hardship and also to stipulate condition as required to safeguard the realization of penalty - "Undue hardship" is normally related to economic hardship. "Undue" means something which is not merited by the conduct of the claimant, or is very much disproportionate to it. Undue hardship is caused when the hardship is not warranted by the circumstances or a hardship to be `undue' it must be shown that the particular burden to have to observe or perform the requirement is out of proportion to the nature of the requirement itself, and the benefit which the applicant would derive from compliance with it. The word "undue" adds something more than just hardship. It means an excessive hardship or a hardship greater than the circumstances warrant.:SUPREME COURT;

mbuzz897.pdf

No slow-down in the growth of the economy - CBDT clarifies.;

mbuzz896.pdf

Indian Leather Development Programme launched for the XI Plan Period;

NOTIFICATION

it08not088.pdf

Sports activities as 'Professional Services': CBDT notifies sportspersons, anchors, sports columnists, umpires/referees, team physicians under Sec 194J;

it08not087.pdf

Minor amendment in Industrial Park Scheme Notification;

CASE LAWS

2008-TIOL-410-HC-AHM-IT.pdf

CIT Vs Gurubachhan Singh J Juneja (Dated: February 12, 2008 )

Income Tax - additions made on account of unaccounted cash sales - Held, in absence of any material on record to show that there was any unexplained investment made by the assessee which was reflected by the alleged unaccounted sales the finding of the Tribunal that only the gross profit on the said amount can be brought to tax does not call for any interference. Revenue's appeal dismissed: AHMEDABAD HIGH COURT;

2008-TIOL-386-ITAT-DEL.pdf + rectification story.pdf

M/s ONGC Limited Vs ITO, Dehradun ( Dated : May 9, 2008 )

Income tax - Rectification of mistake by Tribunal under s. 254(2) - Applicability of s. 17(3)(ii) read with s. 192 for deduction of tax only at the time of payment of interest to ex-employees - Non-consideration of s. 17(3)(ii) at the time of hearing original appeal inspite of assessee not relying on the same - Mistake apparent on record - Miscellaneous applications allowed - This Order to act as precedent only when the factual position for the applicability of a relevant statutory provision is already on record and the same is not disputed by both the sides and it is merely a question of applying an existing provision in the Statute :DELHI ITAT;

CENTRAL EXCISE SECTION

2008-TIOL-1369-CESTAT-MAD.pdf + officers story.pdf

CCE, Salem Vs M/s Arunachala Gounder Textile Mills (P) Ltd (Dated: June 4, 2008)

Let it not be forgotten that only officers with genuine interest in the work and dedication to their duty can subserve the interests of the Revenue in litigation before the Bench. These things indicate defects in the way the department's litigation is often being conducted before this Bench. It is for the authorities concerned to revamp the system and to ensure that the Revenue's case is effectively presented before the Bench. Certified copy of this order shall, therefore, be sent to the CDR for necessary remedial action: CHENNAI CESTAT;

2008-TIOL-1365-CESTAT-MUM.pdf

Inn-Venue Hospitality Management Pvt Ltd Vs CCE,Pune-III (Dated: January 1, 2008)

Central Excise – refund – unjust enrichment – though the price charged to the customers remain same before and after the assessments, it does not lead to the conclusion that there is no unjust enrichment – this is applicable even for the goods covered under Section 4A: MUMBAI CESTAT;

SERVICE TAX SECTION

2008-TIOL-1367-CESTAT-DEL.pdf

CST, Delhi Vs M/s Raj Consultants (Dated: July 17, 2008)

ST - Assessee paid tax before issue of SCN on its own - Penalty - Commissioner drops charges as delay in payment happended for the first time and the tax was paid on its own volition and Department was accordingly intimated - No fault in Commissioner's order: DELHI CESTAT;

2008-TIOL-1364-CESTAT-DEL.pdf

CST, Delhi Vs M/s Chintpurni Securities Ltd (Dated: June 24, 2008)

ST - Stock broker service - On detection the assessee pays tax after issue of SCN - Interest paid later - Penalty - Although adjudicating authority was right in charging interest as the tax was not voluntarily paid but since no mala fide has been alleged in the Commissioner's order, Revenue's appeal rejected: DELHI CESTAT;

2008-TIOL-1363-CESTAT-MUM.pdf

Bharat Sanchar Nigam Ltd Vs CCE (Dated: July 16, 2008)

ST - IUC Service - Total waiver granted in view of Tribunal's decision in Fascel Ltd case: MUMBAI CESTAT;

CUSTOMS SECTION

2008-TIOL-1368-CESTAT-MUM.pdf

M/s S R Nagpal & Sons Vs CC, Nhava Sheva (Dated: May 19, 2008)

Customs – refund of differential duty paid on price revision which was set aside by the Tribunal – if the refund is granted to the appellants, it will unduly enrich them - the averments made by the appellants with regard to unjust enrichment are factually incorrect, wrong and completely misleading - the appellants have no locus standi over the amounts paid: MUMBAI CESTAT;

2008-TIOL-1366-CESTAT-MAD.pdf

CC, Chennai Vs Shri Deepak Mehta (Dated: May 2, 2008)

Customs – Stay petition by the revenue against the Commissioner (Appeals) order – prima facie the Commissioner (Appeals) finding that in case of import of car on transfer of residence, ownership of the car imported has no relevance is sustainable – stay petition rejected: CHENNAI CESTAT;