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Sunday , August 2, 2015 | Updated : Aug 2, 14:33 IST
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Black marketing of subsidized Kerosene - Leakage surpasses 40% mark: Minister (See 'Breaking News') I-T - Whether u/s 115JB net amount on account of sale of shares will alone be taken into account in computation of book profit and not amount of LTCG after indexation: ITAT (See '2015-TIOL-1191') 12.14 lakh consumers voluntarily surrender subsidised LPG Cylinders (See 'Mixed Buzz') ST - Appeal is dismissed only on ground that amount i.e Rs 47,590 is below threshold limit of Rs 50,000 - mentioned in s 35B of CEA, 1944 without going into the merit of case: CESTAT (See 'Breaking News') Fall in Tobacco Price - Govt making efforts to help growers (See 'Mixed Buzz') PM reviews distribution of Rs 6000 Cr package given to sugar sector (See 'Mixed Buzz') Cyclone Komen causes massive destruction in Manipur, Orissa & West Bengal PM for export of surplus sugar; favours ethanol blending Compliance Window - Declaration not admissible as evidence: Minister (See 'Mixed Buzz') CBDT promotes 3 CCITs as Principal CCITs; Dinesh Verma is New Principal CCIT in Bengaluru (See 'Promotion'in 'Pitara') Govt promises SEBI's black eye to black money (See 'Mixed Buzz') CX - Valuation - Transaction Value - whether transportation and insurance cost to be included in value - What is to be determined is 'place of removal' and that depends on facts of each case; - perfunctory manner in which appeal of assessee is allowed by Tribunal, cannot be countenanced: Supreme Court (See 'Breaking News') Manual - Scrutiny of returns - Are Executive Commissionerates usurping powers of Audit Commissionerates? (See 'ST se GST tak') Customs - Exempted Imports - Export Obligation - Even if DGFT holds that export obligation is fulfilled, it is not binding on Customs: Supreme Court (See 'Breaking News') CBDT simplifies procedures for e-filing, e-payment and online application for PAN (See 'Mixed Buzz') Cus - There is no provision for filing ROM application against order of Tribunal deciding ROM application - Application not maintainable, hence dismissed: CESTAT (See 'Breaking News') Latin America and Caribbean economies slowing down: UN Forum (See 'Mixed Buzz') I-T- Whether when time limit for investment in shares is six months from date of transfer and even if such investment falls under two financial years,benefit claimed by assessee cannot be denied - YES: ITAT (See '2015-TIOL-1188-ITAT') OMCs reduce petrol price by Rs 2.43 per litre & Diesel by Rs 3.60 per litre AP and Karnataka urge Centre to hike import duty on raw silk to at least 15% Anusha Khurana, IRS, 97 batch, goes to Competition Commission as Joint DG DoP&T empanels 74 IRS officers for JS-level posts under Central Staffing Scheme (See 'Service News' in Pitara) Two IRS Officers posted as OSDs in CBEC (See 'Transfer' in Pitara) CBEC reduces Tariff Value of Silver, all oils & brass scrap (See 'What's New') Imbroglio continues in RS; No business transacted ST - Appellant collects toll & deposits same with NHAI and either retains part of sum which was collected as toll or gets fixed amount by NHAI - collection of toll is not to be considered as BAS provided to NHAI: CESTAT (See 'Breaking News') ST - Commission for promoting of auto loans - Appellant admitted that in case of HDFC Bank they had raised debit notes for ST but bank did not pay - This is no excuse for not paying tax - extended time period is invokable: CESTAT (See 'Breaking News') CBDT Notifies new ITR Forms (See 'DDT' Column) Exemption certificate can be signed by CEO of PSU - Notfn. 39/96-Cus amended (See 'What's New') Exemption to Anti-Tuberculosis Drugs, Diagnostics & Equipments extended till 01.04.2016 (See 'What's New') I-T - Whether if assessee was originally claiming Sec 10B benefits, it can claim Sec 10A benefits once it acquires a running business having entitlement for claiming deduction u/s 10A - YES: ITAT (See 'Breaking News') CENVAT Credit on M.S.Plates, M.S.Angles, M.S.Channels and H.R. Plates used for construction of plant - High Court sets aside order of Tribunal denying credit prior to 07.07.2009 (See 'Breaking News') Reduction of CENVAT credit on Intangible Services + Consultant pocketing Service Tax and giving forged challans to assessee (See 'DDT') Is there rampant misuse of Notification Nos 49 & 50/2003-CX? (See 'Guest' Column) Whether when the assessee has accepted assessment order, correctness of which can also be agitated before revisional authority, cannot directly challenge consequential recovery notice before HC - YES: HC (See '2015-TIOL-1730-HC') Tribunal to correct its approach so as to ensure such lapses do not recur (See 'DDT') I-T- Whether profit on cancellation of forward marketing contract is to be treated as export turnover within the meaning of Section 80HHC - YES: HC (See '2015-TIOL-1733-HC') World's population - India projected to surpass China in 7 years; Nigeria to surpass USA for third place (See 'Mixed Buzz') CBDT notifies New Forms - ITR-3, ITR-4, ITR-5, ITR-6 & ITR -7 Indians dying due to antibiotic resistance - Govt admits it does not collect data (See 'Mixed Buzz') Black marketing of subsidized Kerosene - Leakage surpasses 40% mark: Minister (See 'Breaking News') I-T - Whether u/s 115JB net amount on account of sale of shares will alone be taken into account in computation of book profit and not amount of LTCG after indexation: ITAT (See '2015-TIOL-1191') 12.14 lakh consumers voluntarily surrender subsidised LPG Cylinders (See 'Mixed Buzz') ST - Appeal is dismissed only on ground that amount i.e Rs 47,590 is below threshold limit of Rs 50,000 - mentioned in s 35B of CEA, 1944 without going into the merit of case: CESTAT (See 'Breaking News') Fall in Tobacco Price - Govt making efforts to help growers (See 'Mixed Buzz') PM reviews distribution of Rs 6000 Cr package given to sugar sector (See 'Mixed Buzz') Cyclone Komen causes massive destruction in Manipur, Orissa & West Bengal PM for export of surplus sugar; favours ethanol blending Compliance Window - Declaration not admissible as evidence: Minister (See 'Mixed Buzz') CBDT promotes 3 CCITs as Principal CCITs; Dinesh Verma is New Principal CCIT in Bengaluru (See 'Promotion'in 'Pitara') Govt promises SEBI's black eye to black money (See 'Mixed Buzz') CX - Valuation - Transaction Value - whether transportation and insurance cost to be included in value - What is to be determined is 'place of removal' and that depends on facts of each case; - perfunctory manner in which appeal of assessee is allowed by Tribunal, cannot be countenanced: Supreme Court (See 'Breaking News') Manual - Scrutiny of returns - Are Executive Commissionerates usurping powers of Audit Commissionerates? (See 'ST se GST tak') Customs - Exempted Imports - Export Obligation - Even if DGFT holds that export obligation is fulfilled, it is not binding on Customs: Supreme Court (See 'Breaking News') CBDT simplifies procedures for e-filing, e-payment and online application for PAN (See 'Mixed Buzz') Cus - There is no provision for filing ROM application against order of Tribunal deciding ROM application - Application not maintainable, hence dismissed: CESTAT (See 'Breaking News') Latin America and Caribbean economies slowing down: UN Forum (See 'Mixed Buzz') I-T- Whether when time limit for investment in shares is six months from date of transfer and even if such investment falls under two financial years,benefit claimed by assessee cannot be denied - YES: ITAT (See '2015-TIOL-1188-ITAT') OMCs reduce petrol price by Rs 2.43 per litre & Diesel by Rs 3.60 per litre AP and Karnataka urge Centre to hike import duty on raw silk to at least 15% Anusha Khurana, IRS, 97 batch, goes to Competition Commission as Joint DG DoP&T empanels 74 IRS officers for JS-level posts under Central Staffing Scheme (See 'Service News' in Pitara) Two IRS Officers posted as OSDs in CBEC (See 'Transfer' in Pitara) CBEC reduces Tariff Value of Silver, all oils & brass scrap (See 'What's New') Imbroglio continues in RS; No business transacted ST - Appellant collects toll & deposits same with NHAI and either retains part of sum which was collected as toll or gets fixed amount by NHAI - collection of toll is not to be considered as BAS provided to NHAI: CESTAT (See 'Breaking News') ST - Commission for promoting of auto loans - Appellant admitted that in case of HDFC Bank they had raised debit notes for ST but bank did not pay - This is no excuse for not paying tax - extended time period is invokable: CESTAT (See 'Breaking News') CBDT Notifies new ITR Forms (See 'DDT' Column) Exemption certificate can be signed by CEO of PSU - Notfn. 39/96-Cus amended (See 'What's New') Exemption to Anti-Tuberculosis Drugs, Diagnostics & Equipments extended till 01.04.2016 (See 'What's New') I-T - Whether if assessee was originally claiming Sec 10B benefits, it can claim Sec 10A benefits once it acquires a running business having entitlement for claiming deduction u/s 10A - YES: ITAT (See 'Breaking News') CENVAT Credit on M.S.Plates, M.S.Angles, M.S.Channels and H.R. Plates used for construction of plant - High Court sets aside order of Tribunal denying credit prior to 07.07.2009 (See 'Breaking News') Reduction of CENVAT credit on Intangible Services + Consultant pocketing Service Tax and giving forged challans to assessee (See 'DDT') Is there rampant misuse of Notification Nos 49 & 50/2003-CX? (See 'Guest' Column) Whether when the assessee has accepted assessment order, correctness of which can also be agitated before revisional authority, cannot directly challenge consequential recovery notice before HC - YES: HC (See '2015-TIOL-1730-HC') Tribunal to correct its approach so as to ensure such lapses do not recur (See 'DDT') I-T- Whether profit on cancellation of forward marketing contract is to be treated as export turnover within the meaning of Section 80HHC - YES: HC (See '2015-TIOL-1733-HC') World's population - India projected to surpass China in 7 years; Nigeria to surpass USA for third place (See 'Mixed Buzz') CBDT notifies New Forms - ITR-3, ITR-4, ITR-5, ITR-6 & ITR -7 Indians dying due to antibiotic resistance - Govt admits it does not collect data (See 'Mixed Buzz')
 
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RECRUITMENT IN REVENUE BOARDS : A CASE OF LOST OPPORTUNITY FOR FM!

By Taxindiaonline News Service

NEW DELHI, MARCH 4: 'INDIA SHINING' is the latest buzzword among the stalwards of the NDA Government. Though the Opposition, as a matter of habit, sees chinks in it but there is no denying that India is shining and, it would have been shining much brighter, had the Finance Minister, Mr Jaswant Singh, been slightly more sensitive to the needs of the revenue and also adequately poll-savvy to fill up the vacancies in the Grades of Group B, C & D in the income tax and Customs & Central Excise Department.

Any guess, how many vacancies exist in these two departments? A whopping 10,000 posts! Had Mr Singh been advised properly by his political-cum-economic advisors, credit would have gone to the NDA Government not only for being sensitive to the intrests of the revenue but also creating a huge pool of at least 25-30 lakh well-wishers. How?

Given the fact that the government jobs have completely gone dry except for the Indian Railways, an average of 25-30 applicants could have applied for these 10,000 posts. This clearly means an application of about three lakh. And, going by the acute employment-crunch theory for highly-educated but non-technical growing population, it would have involved at least 10 family members talking about the welfarist dimesion of the NDA Government. But, it is a case of lost opportunity.

More so, as it was decided by none but Mr Singh himself that until a Cabinet clearance is taken, one-third of the vacancies could be filled up by both the departments as it has evidently been adversely affecting the working and performance of the revenue gatherers! How? There is an acute shortage of Inspectors, Stenoes, Tax Assistants, sepoys, drivers and many more in both the departments. And, as one can very well predict without these necessary assistants, how much delay must be taking place in finalisation of Show Cause Notices and typing of important documents. At present, one steno is being shared by at least three officers turn-by-turn and, since there is a legal obligation to finalise the SCN if a case is made, there is no incentive to officers to go for more than they could at persent chew! Though automation is taking place in both the departments but the skills are missing in most cases and, then the issue is that certain types of jobs are meant for certain types of officers.

So, why was nothing done even after the Finance Minister's decision? Plain lackadaisical attitude and gloriously penny wise and pound foolish approach of the IFU in the Ministry of Finance. Instead of implementing the decision of the Minister, it continued to think more in terms of making an extraordinarily poor saving of Rs 25 cr which both the departments would have incurred by hiring these 3000 employees!

Even the CBDT and CBEC bosses cannot escape from their own quota of blame for poor-handling as Member (P &V) who is the link between the problems of the field formations and the solutions sanctioned at the Minister-level, continued to be more engrossed in routine transfer than any ground-level problem-solving! Worse, something which could have earned tonnes of goodwill for the Government, the Chairman and others in the Board, were simply ignored at the cost of momentum which could have been given to revenue generation campaign.

Worse, the Staff Selection Commission which could have been approached for the selection of Inspectors is yet to receive any formal communication from both the Boards and has already finalised its schedule for 2004. Why none took the initiative is not yet clear and, Mr Singh has nobody but himself to blame for forfeiting a golden opportunity to enrich the political fortune of the party in the forthcoming polls!


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