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Tuesday , January 27, 2015 | Updated : Jan 27, 14:57 IST
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NEWS FLASH
 
For Every Reform; there is equal & opposite counter-reform (See ' ICE CUBES') ST - Once appeal filed by paying pre-deposit amount of 7.5% of tax demand in terms of s.35F of CEA, 1944 is pending before Tribunal, there was no need for freezing bank accounts - DGCEI directed to defreeze bank accounts forthwith: CESTAT (See 'Breaking News') Rajkot Central Excise arrests Director of M/s Krupalu Metals for alleged duty evasion of about Rs 2.8 Crore Obama says 'I believe America can be India's best partner' Valuation - Import of video tapes - payment to non-resident was made for rights to distribute - appellant paying ST on distribution fees under Broadcasting - Commissioner misdirected himself in including value of taxable service in value of goods imported: CESTAT (See 'Breaking News') Sudha Koka and Dr. Awdhesh Singh among Presidential Awardees for Specially Distinguished Record of Service + Good News for Babus - No Action on Anonymous Complaints - CVC (See 'DDT' Column) Whether papers suo motto called for by first appellate authority for disposing of appeal is to be construed as additional evidence under Rule 46A - NO: ITAT (See 'Breaking News') Pre-deposit Blues - Erroneous drawback is not duty? (See 'Guest Column') Goods removed from factory for export - Goods destroyed in fire as truck met with accident - No remission u/r 21 of CER can be allowed on goods destroyed after removal: CESTAT (See 'Breaking News') Banks selling gold coins, sharing ATM facilities - CCRs need Amendment (See 'Budget Run-Up') Maharashtra Govt to accord state funeral to R K Laxman Service Tax - Appeal to Tribunal - Committee of Chief Commissioners - Courts not to interfere in administrative function (See 'DDT') I-T - Whether obsolescence charges in respect of certain non-moving spare parts are allowable as deduction: HC (See '2015-TIOL-203') India-US CEO Forum: PMO to monitor big investments; Obama talks about IPR issue 'Common Man' cartoonist R K Laxman is no more; PM condoles his demise ST - Refund - Appellant paying ST on behalf of company with which it sought to merge - as Madras HC has not sanctioned scheme of merger, CNIL paid ST under VCES - Adjudicating authority to allow re-credit of Rs 79.9 cr in CENVAT account of appellant: CESTAT (See 'Breaking News') Greece rejects austerity regime; elects Syriza Party; EU fears greater uncertainty Govt gives Padma Vibhushan to L K Advani + Amitabh Bachchan + Dilip Kumar + Prakash Singh Badal; Padma Bhushan to Swapan Dasgupta + Harish Salve + Dr Ashok Seth + Bill Gates + Melinda Gates & Padma Shri to Dr Sanjay Leela Bhansali, Bibek Debroy (See 'Breaking News') TIOL wishes All Netizens Very Happy Republic Day Obama extends support to New Security Council with India as Member India, USA agree to set up hotlines between Modi & Obama and two national security advisors ACC appoints Divya Prakash Sinha as Secretary (Security) in Cabinet Secretariat + K Durga Prasad as Special DG, CRPF India, USA finally seal N-deal; agree to enhance defence cooperation Venting grievance on Facebook page of Govt departments is no offence: Apex Court India to showcase military prowess and cultural opulence for Obama (See 'Mixed Buzz') CX - Manpower services used for loading & unloading of compost & boiler ash is allowable as CENVAT credit as it is essential part of manufacture of excisable sugar - no cause for invocation of rule 6 to deny credit: CESTAT (See 'Breaking News') CBI finally nabs absconder accused of Rs 7 Crore rebate fraud case (See 'Mixed Buzz') Whether maintenance of transmission lines by one party and user of these lines by assessee for transmitting energy results into any technical service being rendered: ITAT (See '2015-TIOL-84') MGI Study turns torchlight on tax evasion & reforms in retailing (See 'Breaking News') Air Force One lands at Palam Airport; Modi breaks Protocol and goes to Airport to hug Obama; to hold 8 bilateral talks in two days Global economy may get trapped in prolonged slowdown in 2015: IMF
 
   
BUDGET RUN-UP 2015-2016

Banks selling gold coins, sharing ATM facilities - CCRs need Amendment
By K R Ramankutty
Published: January 27, 2015

Dear FM, legislative change required for judicial discipline
By Ramesh Chandra Jena
Published: January 24, 2015

DDT (Daily Dose of Taxation)

Sudha Koka and Dr.Awdhesh Singh among Presidential Awardees for Specially Distinguished Record of Service

With VIJAY KUMAR

Sudha Koka and Dr.Awdhesh Singh among Presidential Awardees for Specially Distinguished Record of Service
Published: January 27, 2015

View previous DDTs »

WHAT'S NEW
CUS
:
Not 03 NT 11 Cir 04
ADD
:
Not 02 SG: 04  
EX
:
Not 03 NT 01 Cir ins
S.TAX
:
Not 01 Cir 181  
I-T
:
Not 03 Cir 01  
DGFT
:
Not 107 PN 82 Cir15
RBI
:
Cir 64 Notfn  
BREAKING NEWS

New Delhi, January 27
ST - Once appeal filed by paying pre-deposit amount of 7.5% of tax demand in terms of s.35F of CEA, 1944 is pending before Tribunal, there was no need for freezing bank accounts - DGCEI directed to defreeze bank accounts forthwith: CESTAT

Mumbai, January 27
Valuation - Import of video tapes - payment to non-resident was made for rights to distribute & has nothing to do with goods imported - appellant paying ST on distribution fees under Broadcasting - Commissioner misdirected himself in including value of taxable service in value of goods imported: CESTAT

Kochi, January 27
Whether papers suo motto called for by first appellate authority for disposing of appeal is to be construed as additional evidence under Rule 46A - NO: ITAT

New Delhi, January 27
Goods removed from factory for export - Goods destroyed in fire as truck met with accident - No remission u/r 21 of CER can be allowed on goods destroyed after removal: CESTAT

Mumbai, January 26
Appellant paying ST on behalf of company with which it sought to merge - as HC has not sanctioned merger, ST under VCES paid - Adjudicating authority to allow re-credit of Rs 79.9 cr in CENVAT account of appellant: CESTAT

MIXED BUZZ
XCuSE Updates
XCuSE
PUZZLE TO DAZZLE
Punit Vedby PUNIT PAVAN VED CA

Whether it is necessary for AO to write words Yes I am satisfied on basis of above facts that income chargeable to tax has escaped assessment after factual narration of escapement of income; failing which reopening would be invalid.

Published: January 27, 2015

Post Answer »
THE COB (WEB)
Should SIT really fritter away its energy by focusing on recovery from tax havens?by SHAILENDRA KUMAR

Should SIT really fritter away its energy by focusing on recovery from tax havens?
Published: January 22, 2015

View previous 'The COB(Web)s'»
TIOL EDITORIAL
Resolve all issues resulting from disbanding of Planning Commissionby TIOL EDIT TEAM

Resolve all issues resulting from disbanding of Planning Commission
Published: January 19, 2015

View previous Editorials»

ICE CUBES
by NARESH MINOCHA For Every Reform; there is equal & opposite counter-reform

For Every Reform; there is equal & opposite counter-reform
Published: January 27, 2015

View previous ICE CUBEs »

GUEST COLUMN

Pre-deposit Blues - Erroneous drawback is not duty? by S MURUGAPPAN

Pre-deposit Blues - Erroneous drawback is not duty?
Published: January 27, 2015

View previous Guest Column(s);

ST se GST tak

CENVAT Credit on Capital Goods - Eligibility Criteriaby C S KALIRAJAN D

CENVAT Credit on Capital Goods - Eligibility Criteria
Published: January 24, 2015

View previous ST se GST tak(s)»

View 'ST - New Law +VE or -VE' Articles»

 
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