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Friday , January 30, 2015 | Updated : Jan 30, 10:41 IST
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NEWS FLASH
 
Not considering precedent orders by CESTAT - Cryptic orders lacking in reasoning and precision are passed day in and day out - Fault lies either in process of selection and appointment or because there is no review and appraisal of performance of Tribunal Members from time to time: HC (See 'Breaking News') Resurrected Anti Dumping - Board Clarifies its own Confusion - Contempt of Court? (See 'DDT' Column) CX - Too late in day for Revenue to urge that refund application was not maintainable - Interest u/s 11AB is payable only in respect of clearances post 28.09.1996 irrespective of date of passing of adjudication order - Revenue appeal dismissed: HC (See 'Breaking News') Getting ready for GST - The immediate do's (See 'ST se GST tak') I-T - Whether when except advances shown against current asset for fiscal, there is no other evidence to prove that land was purchased for purpose of business, sale of such land attracts tax on capital gains - YES: ITAT (See 'Breaking News') Anomalous Duty in respect of Sedans & SUVs needs to be set right (See 'Budget Run-Up') I-T - Whether where assessee is executing an infrastructure development fixed price contract, provision made in respect of foreseeable losses of future years recognized on basis of AS-7 issued by ICAI, is an allowable deduction: ITAT (See '2015-TIOL-100') Tax Donations to Political Parties (See 'DDT') Hyderabad University bags 'Visitor's Award' for Best University in India PM owes explanation to nation on issue of 'summary' of sacking of Foreign Secretary: Congress CBEC clarifies on collection of anti-dumping duty beyond validity period (See Cir 5 in 'What's New') Justice N Nadar Paul Vasanthakumar of Madras HC appointed as Chief Justice of J&K High Court Maharashtra Govt to accord 'State Guest' status of all retired CJs of Bombay HC if they had min tenure of three years After India it's USA turn to invite Indian Cos to invest in America Voda case - Modi Cabinet shows courage but must protect India's 'taxing right' (See 'The Cob(Web) Column) Cus - Assessment on shore tank quantity or Transaction value - Board Circular is to be considered retrospective as same is not contradictory to earlier Circular - Rule of unjust enrichment to apply even in provisional assessments: CESTAT (See 'Breaking News') Service Tax - Value of goods and materials supplied free of cost outside taxable value or gross amount charged? (See 'DDT' Column) I-T - Whether for purpose of computing depreciation, only written down value of transferred assets of demerged company as per books maintained shall constitute WDV of block of assets of resulting company - YES: ITAT (See 'Breaking News') ICEGATE should allow simultaneous availment of exemption notifications (See 'Budget Run-Up') Central Excise and Service Tax Awards + Babus No Premium Trains for LTC (See 'DDT') Service Tax - 'Commercial Training and Coaching' - Mandatory Training of Insurance Agents - not liable to pay Service Tax: CESTAT (See 'Breaking News') Appeals Why difference in provisions in Service Tax and Central Excise (See 'DDT') I-T - Whether disallowance of interest paid to bank u/s 40(a)(ia) is warranted when the assessee had paid interest to co-op. Bank and co-op. bank was not entitled for deduction u/s.80P(4): HC (See '2015-TIOL-89') Indian Ambassador to USA Mr S Jaishankar appointed as New Foreign Secretary two days before retirement for two years Union Cabinet decides to accept Bombay HC decision in Vodafone TP adjustment case (See 'Breaking News') CCEA okays HDFC Bank 74% foreign holding proposal worth Rs 10,000 Cr + also approves FIIs investment limit in Lupin Ltd for investment of Rs 6099 Cr Cabinet okays Spectrum Auction for 2100 MHz band in Feb 2015; Reserve Price pegged at Rs 3705 Crore Union Cabinet reconstitues panel to set up Semiconductor Wafer Fabrication projects; Dr V K Saraswat appointed as Chairman RRBs with less than USD 175 mn worth of assets exempted from registration under FATCA: RBI (See 'What's New') IGI Airport Customs busts gold smuggling racket; seized yellow metal worth Rs 42 lakh and finds employee of Thomas Cook involved in racket After Obama tour India is high on US investors' list: FM Govt to announce much-delayed New Foreign Trade Policy soon: Sitharaman India appeals against WTO ruling against Govt ban on import of US poultry product Apple quarterly profits riding sale of iPhones turns out to be largest profit in corporate history
 
Untitled Document

TIOL PROFILE

Taxindiaonline.com ("TIOL"), established in May 2000, is a reputed and FIRST Govt of India (Press Information Bureau) recognised ONLINE MEDIA and resource company providing business-critical information, analyses, expert viewpoints, editorials and related news on developments in fiscal, foreign trade, and monetary policy domains.  Our business has enabled our growing audience and subscriber-base, comprising of multinational and domestic corporations; service providers such as lawyers, consultants, and accounting firms; Governmental ministries and departments; officials connected to revenue, taxation, and commerce; and a growing number of foreign users who are active or keen to do business with India, to have access to accurate, and understandable analyses of essential but otherwise complicated and difficult-to-obtain information. 

TIOL’s salient feature has been its ability to bridge ongoing communication gaps that exist between policymaking, policy interpretation, and policy application.  We interpret, simplify, and effectively disseminate in-depth analyses of not only policies and notifications from the various fiscal departments of the Government, but also of precedent-setting tax and trade case judgments from the various courts and tribunals in the country. Due to the widening net of taxation and compliance, ongoing modifications in trade policies, and onerous penalties for non-compliance, the durability of our core business proposition continues to be strengthened. Our business is positioned to grow in tandem with the urgent requirements of a rapidly enlarging audience not only in India, but abroad as well.

We are the acknowledged pioneers in our field, regarded as the legitimate online resource provider in our domain. Our credibility and leadership position has been steadily earned over almost one-and-half decade since we commenced operations, and has been achieved through our proven ability to deliver resource information on a timely basis, along with meaningful editorial content which includes commentaries by a number of high-ranked experts available on TIOL Panel. Our approach emphasizes good ethics, characterized by its neutrality and fairness; this key ingredient has contributed to our loyal viewer-ship, our growing base of customers, and our overall business reputation. Much of our audience and customers believe, on account of the wide compass and depth of our coverage and services, that we are a large corporate entity - our public perception is indeed larger than our actuality.

Underscoring the value of our business premise is the fact that we have amongst the active users of our services, the Ministry of Finance which sets the fiscal policies for the country, The Ministry of Commerce which sets the trade policies for the country, the Reserve Bank of India which tailors the Monetary Policy, and the Big accounting firms, including the 'Big Four' who subscribe to our information packages and use these as a critical resource tool in order to effectively provide their services.  Our services are used by key policy decision makers for inputs on policy-making; by corporate management for airing their grievances caused by flawed policies; and by journalists and other media companies as a research tool.

We pride ourselves as a dynamic, adaptive & learning organization. As individuals and as a company we operate within our values, on account of which we have enjoyed our ten-year journey, and have made an impact. Our values may be encapsulated as follows:

  • To build and maintain an environment of trust, everyone counts, everyone contributes;

  • To drive innovation to results through teamwork.

  • To form strategic relationships with partners who share our values, bring intellectual capital to support our vision and ideals;

  • Above all, always take the high road.

Editor-in-Chief: Vijay K. Kumar enjoys a substantial reputation in issues pertaining to indirect taxation. He has written several articles on Central Excise, Customs, Service Tax and allied matters for the Excise Law Times and for TIOL. He has also authored popular books in their field titled "Guide To Excise Valuation" and "Excise on Textiles". Prior to joining TIOL, his experience includes 22 years with the Central Board of Excise & Customs. He is a practicing tax lawyer and assists TIOL in handling client issues pertaining to legal tax consulting as well.  He holds a Master in Arts, and Degree in Law. He also authors a Daily column, popularly known as DDT (Daily Dose of Taxation). His DDT Column has found a place in the Limca Book of Records as the longest running Daily Column on Taxation.

Limca Book of Records Limca Book of Records Limca Book of Records
TIOL Awarded WCO Certificate of Merit


CEO & Managing Editor: Shailendra Kumar, founder and CEO of TIOL started his career with The Indian Express Newspaper in 1990 and then moved on to The Economic Times where he worked for more than five years before taking the entrepreneurial route to launch TIOL, an idea based on business needs which he realized as a financial journalist. His vision was to create a knowledge-driven company which eased the burden on corporations & acted as a media watchdog for Indian tax and trade policies. He spearheads the business in all of its facets, including regular interactions with various policy makers and administrators, and managing the editorial and news gathering team at TIOL. Mr. Kumar holds a Bachelor of Economics Honours degree from the University of Delhi, and has a Post Graduate Degree in Mass Communication from the Indian Institute of Mass Communication. He was the recipient of the 2001 Outstanding Media Professional Award presented by the India International Professionals Forum. He is also the First Recipient of CERTIFICATE OF MERIT conferred by the World Customs Organisation headquartered at Brussels. He writes a much-awaited and widely-acclaimed weekly column for TIOL - The Cob(Web).

Consulting Editor: Sumit Dutt Majumder, one of our most respected tax experts, joins TIOL as Honorary Consulting Editor. He is former Chairman of the CBEC and a former Ombudsman of the CBEC. He had a distinguished service of 37 years in the Revenue Department and had added value to every post he held, be it the Additional Commissioner of Customs in Mumbai or the DG of DRI. He has represented India in several International Customs fora including the WCO. He has authored two scholarly books - one on Customs Valuation and one on GST. He has studied the GST extensively and is perhaps the best expert on the subject.

Consulting Editor: Sunil Achutan, a Chemistry Graduate with a Diploma in Business Management and a Law degree is a prolific writer and has contributed erudite articles for TIOL as well as ECR & ELT. As a faculty member at NACEN, Bhandup, Mumbai, he has delivered lectures on the intricacies of the Central Excise law for the past many years. He was also a prominent speaker at the workshops conducted by the Settlement Commission, Customs & Central Excise. With a deep understanding of the indirect tax law and more than two decades of experience in the department, Sunil brings with him immense analytical skills to add value to the editorial worth of TIOL.

Consulting Editor: R. Raghavendra Rao, a graduate in Engineering and worked for twenty years in the Central Excise Department before joining TIOL. He is a prolific writer and has contributed many thought provoking articles in ELT and TIOL. He is the co-author of the book "Guide to Excise Valuation" with Vijay.K.Kumar. Known for his incisive analysis and precise conclusions, he has in-depth understanding of Central Excise, Customs and Service Tax laws. He also heads our consulting wing at Hyderabad.

Consulting Editor: Naresh Minocha has about 25 years of experience in reporting, analysing and commenting on a wide range of economic, business and technological issues. He has worked with various print and electronic media organisations in different capacities. The organisations include Financial Express, Indian Express, Business India, Business Standard and Nimbus. He has vast experience in doing specialised writing for global readers and is currently associated with Chemical News & Intelligence, Asian Chemical News, Asiatele.com.

Technical Head: Shikher R. Singh has been with TIOL since its inception and manages the technology issues of the company, constantly interacting with external software and web designers to improve the interactivity of the taxindiaonline.com portal. He holds a Bachelor of Commerce degree from the University of Delhi and IBM certification in web design and programming. He has also attended several IT-related courses related to internet technologies and e-commerce.

Marketing Head: Richa Nigam has been with TIOL since 2005, and is responsible for coordinating marketing and sales for the company. She has contributed significantly to revenue growth by achieving sales through the development and implementation of focused marketing efforts. Previously she was with India Bulls where her responsibilities included providing investment advice to clients for their investment portfolios. She holds a Masters in Commerce from Kanpur University and has an MBA from The Indian Institute of Planning and Management  (IIPM), Delhi.

 
 
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