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NEWS FLASH

Applications invited for post of Registrar of Appellate Tribunal for Forfeited Property (See 'Deputation' in Pitara)

Nitish Govt wins Trust Vote; BJP walks out

Kolkata Airport Customs seizes 6 gold bars worth about Rs 28 lakh from pax coming from Bangkok

EU Anti-Trust Regulator imposes fine on Ranbaxy & others for impeding supply of cheaper drugs

I-T - Sec 10AA - Whether a roadmap to guillotine tax exemption is not a condition precedent for Parliament to introduce sunset clause - NO: HC (See 'Breaking News')

CESTAT Summons CE Superintendent - Tables Turned - Costs of Rs 10,000/- imposed on assessee (See 'DDT' Column)

CX - Inputs used in process not considered as manufacture by Department - Duty paid - Credit cannot be denied and duty cannot be again demanded under Section 11D: CESTAT(See 'Breaking News')

Mid Career Training Program (MCTP) 2013 - The value of Training (See 'Guest' Column)

ST - Market fee collected from licencees by APMC is classifiable under BAS and same is exempted under notification 14/2004 - however, ST payable on renting of shops - since appellant has paid ST with interest, no penalty imposable: CESTAT (See 'Breaking News')

DGFT extends ban on import of milk and milk products from China for one more year (See Notification 23 in 'What's New')

CBEC invites applications for JS (TRU) (See 'DDT')

VAT - Whether names of defaulting companies which are published on official website of Revenue department, can cause a stigma for defaulter or its merely a cautionary exercise: HC (See '2013-TIOL-483')

Review of Orders passed by Commissioner(A) - Strange Ways? (See 'DDT')

Export of edible oils: DGFT grants conditional permission to certain types of exports (See Notification No 22 in 'What's New')

India Air Force receives first batch of 10 Boeing C17 Globemaster III aircraft from US Air Force

FM launches maiden infra debt fund Scheme (See 'Mixed Buzz')

Ahmedabad DRI seizes controlled substances worth Rs 10 Crore

Indian-American Srinivasan sworn in as Judge in US top court

CBEC quickly 'cooks' Commissioners' transfer order - 28 officers transferred at All-India level + 15 locally rotated (See 'Transfer' in Pitara)

'Finance Minister' includes any Minister - 'Govt of India (Allocation of Business) Rules' not to apply to Parliament (See 'DDT' Column)

CX - CENVAT Credit - Transfer of credit to different registered premises of Large Taxpayer - No ISD Registration required - Transfer of credit different from distribution: CESTAT (See 'Breaking News')

CBEC Commissioners' order still 'Cooking'!! 'Third Member' resigns from Placement Committee? (See 'Insider' in Pitara)

I-T - Whether if shareholders choose to transfer lands to purchaser of shares it would be valid transaction in law even if it avoids paying capital gains tax on such transaction - YES: HC (See 'Breaking News')

Board's Draconian Circular 967 - Madras HC clarifies that Circular is directory and not mandatory (See 'DDT')

Service Tax - HSBC's Rs 200 Cr case goes back for de novo adjudication from CESTAT (See 'Breaking News')

Construction of complex service - some debatable issues (See 'ST se GST tak' Column)

I-T - Whether if shareholders choose to transfer lands to purchaser of shares it would be valid transaction in law: HC (See '2013-TIOL-479')

Believe me, I believe you ... Sudha Sharma, CBDT Chief (See 'DDT')

Import - Misdeclaration of quantity - Undervaluation - Old and Used clothing - Relevant date for passing Review Order - Matter remanded (See '2013-TIOL-919')

Service Tax - FTP-related amendments with respect to computation of incremental growth (See'What's New')

Jesudasu Seelam is New Minister of State for Finance; to get Revenue charge

Cabinet Reshuffle: Eight Congress leaders inducted as new Ministers; Mallikarjun Kharge gets Railways; Sis Ram Ola, Oscar Fernandes, Girija Vyas & K S Rao figure in List

IGI Airport Customs seizes 6.5 kg gold bars worth Rs 1.67 crore from pax coming from Dubai

In her first Message to Department, CBDT Chairperson urges every fellow officer to make every Indian proud of their services

TRAI reduces roaming tariff ceilings; Permits customised tariffs (See 'Mixed Buzz')

India needs to increase production of oil and coal to contain CAD: FM (See 'Mixed Buzz')

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Bangalore, June 19, 2013 I-T - Sec 10AA - Whether a roadmap to guillotine tax exemption is not a condition precedent for Parliament to introduce sunset clause - NO: Karnataka HC

Bangalore, June 19, 2013 CX - Inputs used in process not considered as manufacture by Department - Duty paid - Credit cannot be denied and duty cannot be again demanded under Section 11D: CESTAT

Mumbai, June 19, 2013 ST - Market fee collected from licencees by APMC is classifiable under BAS and same is exempted under notification 14/2004 - however, ST payable on renting of shops - since appellant has paid ST with interest, no penalty imposable: CESTAT

Bangalore, June 18, 2013 CX - CENVAT Credit - Transfer of credit to different registered premises of Large Taxpayer - No ISD Registration required - Transfer of credit different from distribution: CESTAT

Bangalore, June 18, 2013 I-T - Whether if shareholders choose to transfer lands to purchaser of shares it would be valid transaction in law even if it avoids paying capital gains tax on such transaction - YES: HC

Bangalore, June 18, 2013 Service Tax - HSBC's Rs 200 Cr case goes back for de novo adjudication from CESTAT

Bangalore, June 17, 2013 Whether when assessee holds securities as investment as per RBI norms, but shows same as stock-in-trade, deduction for loss from such stock at FY-end can be denied merely because it was shown as investment - NO: HC

New Delhi, June 17, 2013 ST - Term PE in Sec 66A would cover branch of foreign Co, which is set up to do business on long term basis - this term would not cover project office – prima facie it is to be treated as service provided to itself – Stay granted: CESTAT

Ahmedabad, June 17, 2013 Even if Revenue pleas are accepted that appellant has entered into unwanted high sea sales, fact is that appellant has got exemption & benefit of notification cannot be denied - Stay granted: CESTAT

New Delhi, June 16, 2013 ICIJ exposes names of 498 Indians and Indian companies making good use of tax havens; Official residences of two Govt officials figure in List