TIOL wishes all Netizens a Happy Republic Day;

Japan launches satellite to monitor greenhouse gas emissions;

Govt considering proposal to slash petrol price by Rs 5 a litre;

India going to hike defence outlay; SMEs to significantly contribute to defence industry ;

Health Bulletin on PM: Dr Singh recovering fast; takes semi-solid food;

Chhatisgarh Naxals set on fire 28 trucks of contractor engaged in road construction;

Chennai Airport Customs seizes heroin concealed in musical instrument keyboard; Lankan national arrested

Govt appoints three advisors to Jharkhand Governor - T P Sinha, IPS (1966 batch), Sunila Basant, IAS (1970 batch) and G Krishnan, IAS (1967 batch);

somesh arora.pdf

India and Chattar Bang Yoga: Is Prime Minister going to be lucky enough to escape with minimum?

CIC story.pdf + cic_order.pdf

Getting a taste of one's own medicine – Applicant files a complaint against the CIC with the CIC but modest CIC takes it in a good spirit - invites applicant for weekly meeting to air his suggestions;

padma awards.pdf

The conferment of Padma Awards - 2009;

guest column.pdf

Asset Management is collective investment like Chit Funds;

mbuzz0086.pdf

Japan launches satellite to monitor greenhouse gas emissions;

mbuzz0085.pdf

India going to hike defence outlay; SMEs to significantly contribute to defence industry;

mbuzz0084.pdf

Dramatic jump in natural disasters in 2008: UN;

2009-TIOL-62-ITAT-DEL.pdf + froamer story.pdf

Foramer France Vs DCIT, Dehradun (Dated : October 17, 2008)

Appeal filed after 13 years on the ground that ROM pending with Commissioner (Appeals) – Not valid – appeal dismissed - In this case, the delay after 19.1.1996 is without any reasonable cause. The delay from 1996 to 19.7.2007 is of more than 10 years. In absence of the appeal, the revenue would have come to the conclusion that the order of the learned CIT (A) has been accepted by the assessee. Admission of appeal after 10 years without reasonable cause would frustrate this legitimate expectation of the revenue. Therefore, on the facts of this case, we hold that the rule of limitation also contains a rule of justice, especially where a person chooses not to take up requisite legal remedies for an inordinate length of time and without reasonable cause, the Tribunal should apply the rule of limitation. Accordingly, we refuse to admit the inordinately late appeals. In view thereof, it is not necessary for us to go into the merits of the appeals:DELHI ITAT;.

2009-TIOL-61-ITAT-BANG.pdf

ITO, (TDS), Mysore Vs Divisional Controllerurban Division, Ksrtc, Mysore (Dated: October 23, 2008)

Income Tax- Revenue appeal against the order of the CIT(A) where CIT(A) held that  there is no requirement to deduct tax at source from interest awarded by the  MACT even though it was not specifically excluded u/s 194A(3) of the Act.-Held, the issue restored to the file of the AO to compute the actual amount on which tax at source was to be deducted in compliance to the provisions of section 194A(3)(ix) which detail does not appear to have been computed either by the AO or by the CIT(A) who merely considered that at the insistence of clause (ix) w.e.f. 1.6.2003 could not to be a liability on the assessee to deduct tax at source on the interest component irrespective of the amount so paid or credited by the assessee. CIT(A) order set aside,Revenue Appeal allowed for statistical purpose.:BANGALORE ITAT;

SERVICE TAX SECTION

2009-TIOL-155-CESTAT-DEL.pdf

M/s Punjab Steels Vs CCE, Chandigarh (Dated: December 16, 2008)

ST - Cenvat credit - assessee avails credit for central excise duty paid on inputs and also service tax paid for availing GTA service for transport of inputs - removal of inputs - assessee reverses credit taken for excise duty paid but not credit availed for GTA service - Revenue insists and assessee reverses the same with interest - demand and penalty - held, the input goods and input services are two different inputs. When cenvated inputs are removed as such as per the requirement of Rule 3(5) of Cenvat Credit Rules only, it is only the Central Excise duty credit which is to be reversed - Prima facie, assessee has a strong case - stay granted and pre-deposit waived off :DELHI CESTAT;

2009-TIOL-151-CESTAT-DEL.pdf

M/s Som Distilleries Pvt Ltd Vs CST, Bhopal (Dated: December 18, 2008)

ST - Packaging service - assessee packages rectified liquor into sealed bottles - Revenue raises demand - Since the issue has been referred to the MP Larger Bench, and the Tribunal has earlier granted unconditonal stay, assessee granted waiver of pre-deposit and stay granted :DELHI CESTAT;

CENTRAL EXCISE SECTION

2009-TIOL-156-CESTAT-MUM.pdf + duty story.pdf

Numex Blocks Vs CCE, Mumbai IV (Dated: January 14, 2009)

Competitors clearing goods without payment of duty but duty confirmed against assessee – Tribunal grants early hearing :MUMBAI CESTAT;

2009-TIOL-153-CESTAT-BANG.pdf + Coromandal Fertilizers story.pdf

M/s Coromandel Fertilizers Ltd Vs CCE, Visakhapatnam (Dated: August 26, 2008)

Central Excise – No bar in CENVAT Credit Rules for availing credit on inputs even after lapse of several years – Credit availed in January 2007 on LSHS used as fuel of manufacture of fertilizers during May 2000 to May 2004 not deniable :BANGALORE CESTAT;

2009-TIOL-152-CESTAT-MAD.pdf

M/s Tamil Nadu Newsprint & Papers Ltd Vs CCE, Trichy (Dated: December 15, 2008)

Central Excise – CENVAT Credit availed on common input furnace oil, used for manufacture of dutiable and exempted goods – demand of 10% /8% amount under Rule 6 is set aside.:CHENNAI CESTAT;

CUSTOMS SECTION

2009-TIOL-154-CESTAT-DEL.pdf

CCE, Jaipur Vs M/s Radiant Acrylic (Dated: October 16, 2008)

Customs – Goods originated from the same supplier to importer but price declared to Indian Customs grossly under invoiced – Ample evidence to suggest under invoicing – Enhancement of value and demand of differential duty after finalization of assessment justified – No infirmity in impugned order :DELHI CESTAT;