Stop loud thinking; just frame a fibre-neutral textiles policy;

Sibal launches anti-ragging 24/7 toll-free India-wide helpline 1800-180-5522 or 155222;

Like CESTAT, ITAT President, Vice-President and also Members cannot practise before Tribunal after retirement; Law Ministry amends Recruitment Rules;

May performance: CVC recommends major penalty against 4 in CBDT and 3 in CBEC;

BoA approves three more SEZ proposals;

Indian Army conquers Mount Dhaulagiri;

Cabinet grants nod for exclusive aircraft to DMS;

L Sailo, CCIT-VI, Delhi to hold Addl Charge of CCIT-V;

TIOL COMMENTARY

cvc story.pdf

May performance: CVC recommends major penalty against 4 in CBDT and 3 in CBEC;

ice_cube.pdf

Stop loud thinking; just frame a fibre-neutral textiles policy;

MIXED BUZZ

mbuzz0589.pdf

BoA approves three more SEZ proposals;

mbuzz0588.pdf

Indian Army conquers Mount Dhaulagiri;

mbuzz0587.pdf

Cabinet grants nod for exclusive aircraft to DMS;

NOTIFICATION

ministry_law_notification.pdf

Like CESTAT, ITAT President, Vice-President and also Members cannot practise before Tribunal after retirement; Law Ministry amends Recruitment Rules;

CASE LAWS

2009-TIOL-15-ARA-IT.pdf + ara story.pdf

M/s Yongnam Engineering & Construction (Pte) Ltd (Dated: June 17, 2009)

Income tax - India-Singapore DTAA - Applicant is a sub-contractor of a contractor who gets major contract for modernisation of Delhi Airport - contract involves supplies of goods fabricated abroad and payment for the same made outside India and also design and erection of structural steel work in India - Assessee seeks ruling whether its income is deemed to arise in India - held, since the applicant fails to furnish the logical sequence of transactions relating to supplies of goods outside India, the method of payment, whether the contract was composite and what were the operations carried out in India, the Authority cannot give a ruling in the absence of all these relevant facts - Assessee's application dismissed : ADVANCE RULING AUTHORITY;

2009-TIOL-384-ITAT-MUM.pdf

IA & IC Pvt Ltd Vs ITO, Mumbai (Dated: February 17, 2009)

Income Tax - Section 36(1)(iii) - Assessee pays interest on an amount borrowed in the earlier year - also receives interest income - AO disallows interest expenses (net claimed by the assessee company ) and adds the same to total income – CIT(A) dismisses appeal by holding that it cannot be said that the interest has been paid for the running of the business and it has been paid only for holding the shares in other companies - Held,  in view of the additional evidence matter remitted to AO to reconsider the  disallowance of interest - Assessee's Appeal allowed.:CHENNAI ITAT;

SERVICE TAX SECTION

2009-TIOL-941-CESTAT-BANG.pdf

M/s Meka Industries Vs CC & CCE, Belgaum (Dated: February 24, 2009)

Service Tax – When appellant availed credit of service tax paid excessively under bonafide belief, penalties not leviable:BANGALORE CESTAT;

2009-TIOL-940-CESTAT-DEL.pdf

M/s Wild Expedition Tours & Travels Vs CCE, Bhopal (Dated: April 8, 2009)

ST - Rent-a-Cab-Operator - Assessee provides vehicles to PSUs and some of the Govt offices - claims it is not covered under the notified service - Matter remanded for passing a speaking order :CHENNAI CESTAT;

CENTRAL EXCISE SECTION

2009-TIOL-942-CESTAT-MAD.pdf

M/s DCW Ltd Vs CCE, Tirunelveli (Dated: April 3, 2009)

Central Excise – CENVAT – Capital Goods – Education Cess – Quantum of Credit - The restriction of cenvat credit to 50% of the duty paid on capital goods on receipt of capital goods in a factory in the same financial year as envisaged in the sub-rule 2(a) of rule 4 of CENVAT Credit Rules is also applicable to the credit of education cess. (Para 3) :BANGALORE CESTAT;

CUSTOMS SECTION

2009-TIOL-939-CESTAT-BANG.pdf

M/s OCL India Ltd Vs CC, Visakhapatnam (Dated: March 2, 2009)

Customs - Fused Magnesium Chromide classifiable under Chapter 2519 9040 and not Chapter 3824 9090 - There is a practice of classifying these goods under Chapter 25 for a long time and other Ports are also classifying the item under Chapter 25 – No merits in departments contention – Impugned order set aside :BANGALORE CESTAT;