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NEWS FLASH

Guwahati Customs seizes 5 kg charas worth Rs 25 lakh from Jammu Tawi Express

2G Scam case: Sessions Court rejects petition against P Chidambaram; Govt heaves a sigh of relief

India exempts essential commodities to Bhutan from export bans (See 'Mixed Buzz')

I-T - Whether immunity given under clause (2) of expln 5 of sec 271(1)(C) is restricted to return filed on due date and not available to returns filed after search disclosing additional income (See '2012-TIOL-71-ITAT-HYD')

Industry favours Negative List of Services; seeks exemption from MAT for Infrastructure and SEZ units (See 'Breaking News')

India, USA sign MoU to boost youth employment (See 'Mixed Buzz')

ST - Demand of service tax for storage of uncleared cargo sold under auction under category of storage and warehousing service - stay granted (See '2012-TIOL-155-Cestat-Mum')

Train travel on e-ticket: Railways to treat SMS sent by IRCTC on par with Electronic Reservation Slip (See 'Breaking News')

I-T - Whether valuation of stock is separate source of income - Whether loss resulting from valuation is to be considered under business income head (See '2012-TIOL-70-ITAT-MUM')

Allocation of 2G Spectrum in 22 service areas: TRAI seeks feedback on pre-consultation paper (See 'Mixed Buzz')

Drop in occupancy rates in higher education, low rung institutes struggle to survive (See 'Breaking News' in www.hrindiaonline.com)

DGFT amends SION for Food Products and Thermo Plastic Elastomer (See PNs in 'What's New')

India's Services Sector grows at rapid pace in January: HSBC Survey

Army's Chief age row: SC questions manner in which Singh's statutory complaint rejected

Govt to finalise Mission Plan for Electrical Equipment sector in 3 months (See 'Mixed Buzz')

I-T - Whether when assessee takes accommodation on rent after paying huge security deposits for its CMD, FBT is leviable on notional interest payable on security deposits - No, rules ITAT (See 'Breaking News')

CBEC Cadre Review likely to be through in one month: Revenue Secretary

Laying pipeline for transport of gas - whether liable to Service Tax under Commercial Construction Service or does it stand excluded in view of definition of Erection, Commissioning and Installation Service - issue arguable - Stay granted: CESTAT (See 'Breaking News')

Case Law Analysis or Cricket Commentary? (See 'DDT' Column)

There is no provision of law where future CENVAT credit admissible can be taken into account while calculating customs duty payable under Notification no. 94/96 - deduction of credit while sanctioning refund is not correct - Stay granted: CESTAT (See 'Breaking News')

Ministry setting up Transport Hubs on Pilot Basis (See 'Mixed Buzz')

2G Case - CVC to Monitor Investigation by CBI, ED and Income Tax: SC (See '2012-TIOL-07-SC-MISC')

I-T - Whether when hedging transactions of commodities are in nature of derivatives transactions, any TDS obligation arises on brokerage charges paid (See '2012-TIOL-65-ITAT-MUM')

Health Ministry launches anti tobacco campaign - life se panga mat le yaar (See 'Mixed Buzz')

Union Cabinet okays proposal to give preference to locally manufactured electronic goods in procurement on security ground

Sahar Airport Customs seizes premium wrist watch worth Rs 18.64 lakh from lady passenger

Pre-Budget Meet: FM to consult Trade & Industry tomorrow

2G Scam: SC refers Chidambaram's issue to Trial Court; orders cancellation of 122 Licences in four months; Rs 50 lakh penalty on Loop, S-Tel and Allianz

I-T - Whether when assessee outsources manufacturing for which raw materials are supplied by non-resident having interest in assessee company, conversion charges paid to jobworker attract provisions of Sec 194C - YES: HC (See 'Breaking News')

PMO under judicial attack; Needs customised and fairly represented New Cadre to man it! (See 'The Cob(Web) Column)

Lord Balajee's Lodge liable to Service Tax: AP High Court (See 'Breaking News')

Quarterly payment of duty and return filing - is entitlement of full exemption under notification 8/2003-CE mandatory? (See 'DDT' Column)

Customs â€“ Tribunal has no powers to go into vires of notification â€“ A challenge to vires of notification could be made only before HC or Supreme Court: CESTAT (See 'Breaking News')

ICSI launches New Syllabus for CS Foundation Programme (See 'Mixed Buzz')

DDT (Daily Dose of Taxation)

With VIJAY KUMAR

Case Law Analysis or Cricket Commentary?
Published: February 03, 2012

View previous DDTs »

WHAT'S NEW

CUS	:	Not 03	NT 08-10	Cir 03
ADD	:	Not 09-11	SG : Not 01
EX	:	Not 03	NT 33	Cir 958
S.TAX	:	Not 52	Order 1	Cir 149
I-T	:	Not 03	Cir 08
DGFT	:	Not 94	PN 92-95	Cir 52
RBI	:	Cir 74

<< More>>

BREAKING NEWS

New Delhi, February 04
Industry favours Negative List of Services; seeks exemption from MAT for Infrastructure and SEZ units

New Delhi, February 04
Train travel on e-ticket: Railways to treat SMS sent by IRCTC on par with Electronic Reservation Slip

Mumbai, February 03
I-T - Whether when assessee takes accommodation on rent after paying huge security deposits for its CMD, FBT is leviable on notional interest payable on security deposits - No, rules ITAT

Ahmedabad, February 03
Laying pipeline for transport of gas - whether liable to ST under Commercial Construction Service or does it stand excluded in view of definition of Erection, Commissioning and Installation Service - issue arguable - Stay granted: CESTAT

MIX BUZZ

New Delhi, February 04
India exempts essential commodities to Bhutan from export bans

New Delhi, February 04
India, USA sign MoU to boost youth employment

New Delhi, February 04
Allocation of 2G Spectrum in 22 service areas: TRAI seeks feedback on pre-consultation paper

New Delhi, February 03
Govt to finalise Mission Plan for Electrical Equipment sector in 3 months

<< More News >>

<< More Buzz >>

PUZZLE TO DAZZLE

by PUNIT PAVAN VED CA A Medical Trust was formed with corpus of Rs 1 lakh. It depended on fee collected from patients. Trust was denied registration u/s 12AA on ground that there was no voluntary contribution. Revenue observed since Trust recovers costs from patients, there is no charity to anybody. Is CIT right? Published: January 30, 2012
Post Answer »	View previous Puzzles »

THE COB (WEB)

by SHAILENDRA KUMAR

PMO under judicial attack; Needs customised and fairly represented New Cadre to man it!
Published: February 02, 2012

View previous COB Web(s)»

TIOL EDITORIAL

by TIOL EDIT TEAM

Harbour no wrong notions about India's 'economic fortress'
Published: February 01, 2012

View previous Editorials»

ICE CUBES

by NARESH MINOCHA

Apply Bitter Telecom Lessons to Airport Reforms
Published: January 25, 2012

View previous ICE CUBEs »

GUEST COLUMN

by S SIVAKUMAR

SC Decision in Vodafone Case – A Litany of After-Effects
Published: January 30, 2012

View previous Guest Column(s)»

ST se GST tak

by G NATARAJAN

TRADE Vs TAX
Published: January 31, 2012

View previous ST se GST tak(s)»

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