RBI issues draft guidelines for money changers;

OIL gets nod from Govt for listing of shares;

Govt decides to give ad hoc arrears to armed forces; Grievance Panel set up;

Central Excise – interest on delayed refund of pre-deposit – the respondents are entitled for interest on delayed refund;

Pressure again mounts on Patil; Oppn doubts Govt's ability to curb terror;

Noted Singer Mahendra Kapoor passes away today;

Yet another blast in Delhi; Tiffin-bomb exploded in flower market near Qutub Minar; Four killed;

Chief Justice of India says anti-terror laws should have mechanism to curb misuse;

Govt sets up panel to address armed forces grievances on pay hike;

DG, CSIR announces names of 10 scientists selected for Shanti Swarup Bhatnagar Awards;

services story.pdf

Hard times lie ahead for Services Sector; A clue for CBEC bosses pinning high hopes on Service Tax mop-up;

EOU story.pdf

Rajkot EoUs caught evading Customs and Excise duties in garb of waste, scrap clarances; Rs 28 Cr SCNs issued against 34;

mbuzz1010.pdf

Govt eases licensing norms for staging theatrical performance in licenses premises in Delhi;

mbuzz1009.pdf

WB gives USD 4 mn to 22 innovative agri projects worldwide;

mbuzz1008.pdf

Global Tiger Initiative to get a boost on 'Tiger Day' meet;

mbuzz1007.pdf

Home Minister to chair Northern Council meet at Shimla;

2008-TIOL-451-ITAT-KOL.pdf + pe story.pdf

Sojitz Corporation Vs ADIT ( Dated: October 30, 2007 )

Income Tax - Liaison offices established in India with the approval of RBI and functioning as per the guidelines prescribed by RBI for more than four decades – cannot be treated as Permanent Establishment (PE) - Assessee's appeal allowed: KOLKATA ITAT;

2008-TIOL-450-ITAT-MAD.pdf

Shri K Devakar Vs ACIT, Chennai ( Dated : March 28, 2008 )

Penalty under sec. 271(1)(c) – Income admitted after survey – Penalty upheld

During the course of survey it was detected that assessee submitted wrong particulars of expenditure and credits. Assessee came forward and filed revised return disclosing such mistakes. This is not a voluntary act on the part of the assessee. Penalty levied under sec. 271(1)© upheld.

Assessee's appeal dismissed.:CHENNAI ITAT;

CENTRAL EXCISE SECTION

2008-TIOL-1579-CESTAT-DEL.pdf

CCE, Ludhiana Vs M/s Ralson Carbon Block Ltd (Dated: June 6, 2008)

Central Excise – delay in discharging the duty under Rule (8)(1) of Central Excise Rules – since the respondents paid substantial amounts before the due date and delayed only the part amounts, reduction of period of forfeiture from two months to one month is justified – no merit in revenue appeal.:DELHI CESTAT;

2008-TIOL-1578-CESTAT-MAD.pdf

CCE, Chennai Vs M/s Dinesh & Co (Dated: July 17, 2008)

Central Excise – interest on delayed refund of pre-deposit – the respondents are entitled for interest on delayed refund.: CHENNAI CESTAT;

2008-TIOL-1576-CESTAT-MUM.pdf + doctrine story.pdf

CCE, Pune II Vs M/s Wallams (I) Agro Products & Power Ltd (Dated: May 29, 2008)

Central Excise – Credit voluntarily reversed is not hit by doctrine of unjust enrichment :MUMBAI CESTAT;

SERVICE TAX SECTION

2008-TIOL-1581-CESTAT-MUM.pdf

M/s Kirloskar Oil Engines Ltd Vs CCE, Aurangabad (Dated: July 4, 2008)

CENVAT Credit – Credit availed on garden maintenance and vehicle maintenance – Earlier order in applicant's own case granted full waiver of pre-deposit on similar issue – Pre-deposit waived and recovery stayed : MUMBAI CESTAT;

2008-TIOL-1580-CESTAT-MUM.pdf

CCE, Nagpur Vs M/s Manikgarh Cement (Dated: July 18, 2008)

CENVAT Credit – Credit availed in r/o repairs/maintenance, civil construction, manpower recruitment, clearing services provided for residential colony – Commr (A) followed the CESTAT decision allowing credit in appellants own case : MUMBAI CESTAT;

2008-TIOL-1575-CESTAT-MAD.pdf

Fifth Estate Communications (P) Ltd Vs CST, Chennai (Dated: July 1, 2008)

Service Tax – Stay/Dispensation of pre-deposit – Advertising Agency Service – sale of space for advertisement in print media does not attract service tax – also the service tax if any is payable only on the commission received which was paid by the appellants – pre-deposit waived: CHENNAI CESTAT;

2008-TIOL-1574-CESTAT-AHM.pdf

CST, Ahmedabad Vs M/s Patel Tours & Travels (Dated: August 8, 2008)

ST - Commissioner drops demand - Revenue for stay of order so that deposit made during investigation by the assessee is not claimed as refund - Stay of refund granted: AHMEDABAD CESTAT;

CUSTOMS SECTION

2008-TIOL-1577-CESTAT-DEL.pdf

M/s ABB Limited Vs CC, New Delhi (Dated: July 28, 2008)

Customs – Stay/ Dispensation of pre-deposit - refund – unjust enrichment – since the assessment was finalized before introduction of provision of unjust enrichment in Section 18 of the Customs Act, pre-deposit waived.:DELHI CESTAT;