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Cus - When there is nothing on record to show that appellant had connived with other three persons to import AA batteries under the guise of declaring goods as Calcium Carbonate, penalty imposed on appellant are set aside: HCCongress fields Rahul Gandhi from Rae Bareli and Kishori Lal Sharma from AmethiCus - The penalty imposed on assessee was set aside by Tribunal against which revenue is in appeal is far below the threshold limit fixed under Notification issued by CBDT, thus on the ground of monetary policy, revenue cannot proceed with this appeal: HCGST -Since both the SCNs and orders pertain to same tax period raising identical demand by two different officers of same jurisdiction, proceedings on SCNs are clubbed and shall be re-adjudicated by one proper officer: HCFormer Jharkhand HC Chief Justice, Justice Sanjaya Kumar Mishra appointed as President of GST TribunalSale of building constructed on leasehold land - GST implicationI-T - If assessee is not charging VAT paid on purchase of goods & services to its P&L account i.e., not claiming it as expenditure, there is no requirement to treat refund of such VAT as income: ITATBengal Governor restricts entry of State FM and local police into Raj BhawanI-T - Interest received u/s 28 of Land Acquisition Act 1894 awarded by Court is capital receipt being integral part of enhanced compensation and is exempt u/s 10(37): ITATCops flatten camps of protesting students at Columbia UnivI-T - No additions are permitted on account of bogus purchases, if evidence submitted on purchase going into export and further details provided of sellers remaining uncontroverted: ITATTurkey stops all trades with Israel over GazaI-T- Provisions of Section 56(2)(vii)(a) cannot be invoked, where a necessary condition of the money received without consideration by assessee, has not been fulfilled: ITATGirl students advised by Pak college to keep away from political eventsI-T- As per settled position in law, cooperative housing society can claim deduction u/s 80P, if interest is earned on deposit of own funds in nationalised banks: ITATApple reports lower revenue despite good start of the yearI-T- Since difference in valuation is minor, considering specific exclusion provision benefit is granted to assessee : ITATHome-grown tech of thermal camera transferred to IndustryI-T - Presumption u/s 292C would apply only to person proceeded u/s 153A and not for assessee u/s 153C: ITATECI asks parties to cease registering voters for beneficiary-oriented schemes under guise of surveys
 
Draft Indian Ports Bill, 2011: Govt seeks feedback from stakeholders

By TIOL News Service

MUMBAI, JULY 28, 2011: THE Govt has finally come out with the new Draft 'Indian Ports Bill, 2011' which proposes major changes, including provisions relating to ISPS Code, P.P. Act, 1971, Common Recruitment Rules for Heads of the Departments of Major Ports and overriding powers of Central Govt. in respect of port limits. If this legislation is enacted, both the existing Indian Ports Act 1908 as well as Major Ports Act, 1963 will stand repealed.

Netizens may recall the Central Govt had set up a Committee with the terms of reference as:

(i) To identify the provisions in the Statute which are no longer required due to changes in the maritime/port activities over the years;

(ii) To identify the provisions which are in tune with the present needs of the ports to co-operate in a commercial climate and in harmony with the liberalization of the economy; and

(iii) To examine whether the existing statutes can be unified/simplified into a single statute. The Committee submitted its Report along with the recommendations to the Ministry in November, 1999.

The Report was circulated to the Maritime States to the relevant Stake Holders. The Report was also discussed with the Ports’ Chairmen in a meeting taken by the Secretary (Shipping), Joint Secretary(Ports) and other Sr. Officers of the Ministry at Goa in July, 2002. The Draft Bill is available at the Ministry's website seeking public feedback.


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