Don't waste tax sops on reservations; just act imaginatively;

Export of Edible Oil in branded packs of upto 5 Kg;

Swine Flu: Three more test positive; Tally in India goes up to 20;

Delayed service tax refund: Exporters for effective substitute; suggests bond papers;

CBI books two former Chairman of Kandla Port Trust;

SBI further cuts deposit rates by 0.25 per cent from Monday;

Yashwant Sinha resigns from all party posts; alleges BJP has rewarded those who are responsible for failure;

Food processing is going to be driving seat for Indian economy: Minister;

Scare of Swine Flu: Govt tightens monitoring at airports; to activate 16 more labs;

MoF inserts new rule 21 in Securities Contracts Rules for delisting of securities;

CBDT issues transfer order of 66 Addl /JCITs, including 14 from Directorates;

SC-appointed panel reviews anti-ragging measures;

PGC joins hands with NTPC for 400 KV transmission project;

TIOL COMMENTARY

refund story.pdf

Delayed service tax refund: Exporters for effective substitute; suggests bond papers;

ice cube.pdf

Don't waste tax sops on reservations; just act imaginatively;

swine flu story.pdf

Scare of Swine Flu: Govt tightens monitoring at airports; to activate 16 more labs;

Securities Contracts Act Notification.pdf

MoF inserts new rule 21 in Securities Contracts Rules for delisting of securities;

MIXED BUZZ

mbuzz0569.pdf

State of competition in India: Level-playing field between pvt and public sectors required: Mrs Ahluwalia;

mbuzz0568.pdf

CBI books two former Chairman of Kandla Port Trust;

mbuzz0567.pdf

Food processing is going to be driving seat for Indian economy: Minister;

mbuzz0566.pdf

SC-appointed panel reviews anti-ragging measures;

mbuzz0565.pdf

PGC joins hands with NTPC for 400 KV transmission project;

cbdtorder069_2009.pdf

CBDT issues transfer order of 66 Addl /JCITs, including 14 from Directorates;

CASE LAWS

2009-TIOL-361-ITAT-MUM.pdf

Pam Pac Machines Pvt Ltd Vs DCIT, Mumbai (Dated: February 11, 2009)

Income Tax - Section 35(1)(ii) & relief u/s 80HHC - Assessee is in the business of manufacturing pharmaceutical and allied machinery - AO makes addition after re-computing the claim for relief u/s 80HHC and also disallowed weighted deduction @ 125% on the assets employed in research and development expenses as per provisions of section 35(1)(ii) - CIT(A) grants part relief on the issue of disallowance of part of research and development expenses - Held, in view of Tribunal decision in the case of Universal Capsules Pvt. Ltd Vs ACIT issue is set aside to the file of the AO for fresh adjudication.

Deduction u/s 80HHC - on the issue as to whether scrap sales is to be included in the total turnover of the assessee for the purpose of computation of relief u/s 80HHC and on the issue of not including freight recovered, insurance charges recovered and packing charges recovered as part of total turnover for the purpose of computing deduction u/s 80HHC - Held, the  issues are covered in favour of the assessee and against the revenue by the decision of this bench of the Tribunal in the assessee's own case for earlier year. Assessee grounds allowed. :MUMBAI ITAT;

2009-TIOL-360-ITAT-MUM.pdf

M/s Galaxy Multimedia Ltd Vs ACIT, Mumbai (Dated: March 16, 2009)

Income tax - Sec 36(1)(vii) - bad debts - held, once bad debts are written off in the books of account, assessee not required to prove the same - Assessee's appeal allowed :MUMBAI ITAT;

2009-TIOL-359-ITAT-MUM.pdf

ACIT, Mumbai Vs M/s Trans Marketing Pvt Ltd (Dated: February 23, 2009)

Income tax - capital gains - assessee company enters into tenancy agreement with a person who holds major stake in the company - later sells the flat at a loss - AO writes to the Registrar and fixed higher market value and makes additions for capital gains - CIT(A) disagrees - held, as per settled law the AO is to be guided by the price mentioned in the Conveyance Deed and the stamp duty accepted by the Registrar and the Registrar cannot furnish any other price later - Revenue's appeal dismissed:MUMBAI ITAT;

SERVICE TAX SECTION

2009-TIOL-905-CESTAT-BANG.pdf

M/s Pasha Educational Training Institute Vs CCE, Hyderabad (Dated: February 13, 2009)

Service Tax – Training provided to candidates in various fields covered by Commercial Training or Coaching service, but exempt vide Notification 9/03-ST as vocational training – Issue covered vide Tribunal order in appellants own case 2009-TIOL-288-CESTAT-BANG :BANGALORE CESTAT;

2009-TIOL-902-CESTAT-DEL.pdf

M/s Korea Plant Service & Engg Co Ltd Vs CCE, Jaipur-II (Dated: April 17, 2009)

ST - Maintenance & Repair Service - Aassessee pays tax on entire contract amount - takes cenvat credit - Revenue disallows credit on tax paid on activities other than maintenance - held, prima facie, assessee paid tax on the entire contractual amount and the denial of credit on the ground that part of input services was not used in maintenance service is not justified - waiver of pre-deposit granted :DELHI CESTAT;

CENTRAL EXCISE SECTION

2009-TIOL-906-CESTAT-BANG.pdf

Andhra Cements Limited Vs CCE, CC & ST, Guntur (Dated: February 19, 2009)

Central Excise – Default in payment of excise duty under Rule 8 of CER, 2002 - Amount debited in CENVAT A/c towards duty liability to be regarded as discharge of all duty liability by appellant in view of o verriding provisions of Section 22 of SIFRA, 1985 and Order of BIFR – Order demanding interest and penalty set aside :BANGALORE CESTAT;

2009-TIOL-904-CESTAT-MUM.pdf + john story.pdf

CCE, Pune-III Vs M/s John Deere Equipments Pvt Ltd (Dated: May 11, 2009)

To any prudent man, ambiguity is writ large on the order of the Commissioner(Appeals) – Observing thus, CESTAT remands matter to appellate authority :MUMBAI CESTAT;

2009-TIOL-903-CESTAT-AHM.pdf

M/s Diamond Cables Ltd Vs CCE, Vadodara (Dated: April 24, 2009)

Central Excise – When goods are cleared to sister unit and returns filed with authorities intimating the same extended period not invocable – No malafide attributable to assessee when the entire exercise is revenue neutral – Penalties set aside:AHMEDABAD CESTAT;

CUSTOMS SECTION

instruction09_005.pdf

Export of Edible Oil in branded packs of upto 5 Kg.;

CASE LAWS

2009-TIOL-305-HC-P&H-EXIM.pdf + FTP story.pdf

Escorts Limited Vs UoI ( Dated : May 20, 2009)

FTP - Retrospective withdrawal of Target Plus Scheme, quashed – Govt loses case because it failed to get the case transferred to Supreme Court: The High Court is also in full agreement with the judgment passed by the High Court of Gujarat in the case of Welspun India Ltd. v. Union of India. Adopting the same reasoning, the Court allowed the present writ petition and quashed the notification No. 08(RE-2006)/2004-2009 dated 12.06.2006 issued by the Director General of Foreign Trade and Ex-Officio Additional Secretary to the Government of India, and declared it ultravires the Act, 1992 so far as it gives retrospective effect and the petitioners are held entitled to get duty credit entitlement certificate, if entitled to otherwise.: PUNJAB AND HARYANA HIGH COURT;

2009-TIOL-901-CESTAT-MUM.pdf

CC, Mumbai Vs M/s BE Office Automation Pvt Ltd (Dated: December 4, 2009)

Customs – Recovery of erroneous refund can be initiated by way of appeal against the quasi-judicial order without recourse to fresh SCN – Reliance placed on CA certificate to decide unjust enrichment without examining the supporting documents for issue of certificate not sustainable – Orders passed without examining various contentions raised in appeal memo and without discussing relevant case laws liable to be set aside – Matter remanded to original authority for de novo adjudication of refund claims by following principles of natural justice to both parties :MUMBAI CESTAT;