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CENTRAL EXCISE NOTIFICATION NO -28NT - Non-reversal allowed only for the CENVAT credit taken upto the 8 th of July, 2004. on wires drawn from wire rods notwithstanding that the process of drawing of wires from wire rods was held as not amounting to manufacture by the Supreme Court | 2010-ITS-3142-ITAT - The transferee of the business should be eligible to claim the deduction in respect of the liability taken over from the transferor for which the payment was made by the transferee subsequently. | 2010-ITS-3126-ITAT - Statement made in TDS certificate alone cannot be a determinative factor to determine the nature of receipt of the assessee. | 2010-ITS-3070-HC - Software is goods and whether the transaction would amount to sale or service would depend upon the individual transaction | 2010-ITS-3069-HC - Merely because a judgment has been rendered, the same cannot be a ground for reopening the assessment u/s 147 as it amounts to a change of opinion. | CBDT PRESS RELEASE - Time limit for filing ITR-V for assessment year 2009-10 extended | SERVICE TAX NOTIFICATION NO -47 - Govt exempts the taxable service of outdoor catering provided by a Non Government Organisation registered under any Central Act or State Act, under the Centrally assisted Mid-Day Meal Scheme | CUSTOM NOTIFICATION NO -90 - Exemption on import against a Served From India Scheme scrip : CBEC amends various notification to effect change in the scheme | 2010-ITS-3058-ITAT - Sale of software cannot be treated as income from royalty either under the IT Act | 2010-ITS-3046-ITAT - Fluctuation on account of foreign exchange rate is an allowable deduction and is not capital in nature. | 2010-ITS-3065-HC- - Face value of the duty entitlement passbook realized on the transfer of the entitlement is chargeable to tax under Section 28(iiib). | BREAKING NEWS - FM Exhorts CBEC and CBDT to Set-Up Standing Committee at CCs Level for Litigation Management | CUSTOM NOTIFICATION NO -85 - Final anti-dumping imposed on imports of Acrylic  originating in, or exported from, the Japan and Belarus | CBEC CIRCULAR NO -32 - No export of sugar should be permitted against raw sugar imported under the Advance Authorization Scheme from 17.2.2009 to 30.9.2009 without the release order of the Directorate of Sugar. | CUSTOM NOTIFICATION NO -78NT - Tariff value Brass Scrap (all grades) &Poppy seeds revised to US $ 3924 |

 

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“Since we could not place the Bill in the last session, it may not be possible to introduce GST from April 1, 2011.” – Mr Pranab Mukherjee

FM Exhorts CBEC and CBDT to Set-Up Standing Committee at CCs Level for Litigation Management

Direct tax code gets Cabinet nod - I-T exemption limit to be Rs 2 lakh

The Income-Tax Act is a special Act. Section 147 of the Act does not contemplate review of the order, but it contemplates reopening and reassessment.

Merely maintaining a separate account under a heading given by the assessee would not alter the nature of the receipt if it is actually a trading receipt.

Once the issue gets settled, the Department would be entitled to levy both penalty and interest - SC

Tribunal has no jurisdiction to hear the appeal in respect of claim of drawback hence appeal not maintainable

Assessees are liable to pay interest only from the date of utilization of credit.

Failure on the part of the department due to long time gap to verify the transporters copy in original cannot lead to denial of substantive benefit of credit to the assessees

Benefit of abatement under Notification No.32/20004 cannot be denied to the assessees

It is settled law that the Commissioner(Appeals) has no power to condone the delay beyond 30 days.

Mere admission about shortages and reversal of the credit cannot lead to the conclusion that there was clandestine removal of the said goods in the absence of any corroborative evidence.

If no option to pay duty along with penalty within a period of 30 days has been given by the lower authorities, the same is required to be given by the appellate authority.

When different interpretations were possible, extended period cannot be invoked and penalty cannot be levied.

The burden of proving that the assessees were guilty of suppression lies upon the Revenue.

While there is justification to impose penalty under Rule 15 of Cenvat Credit Rules, 2004, there is no justification for imposition of penalty under Rule 25 of Central Excise Rules, 2002 and Section 11AC of Central Excise Act, 1944.

Tribunal was not justified in invoking provision of section 120(2) of the Customs Act to confiscate the seized silver to the extent it was confiscated in exercise of that power in absence of show cause notice and opportunity of being heard

Where no statutory period has been prescribed for initiating proceedings for imposition of penalty under Section 96 ZO3, then the proceedings should be initiated within a period of 5 years and not later than that.

"Boomer Tattoo" is not primary packing material nor can it be termed as primary packing material.

CBDT clarification on security of e-filing portal

Capital goods could be cleared as such for export under bond

Payment of duty after taking into account the depreciation to the extent allowed

Garden maintenance services are input services and credit on such service is admissible

Credit of service tax paid on services of Rent a Cab used for picking up and dropping staff from the residence to the factory premises

FM Announces Additional Relief Package in his reply to the debate on Finance Bill-2010

A simple computational error can be resolved by rectifying an order of assessment under Section 154(1).

For the purpose of computing deduction u/s 80HHC, excise duty and sale tax cannot form part of total turnover as well as export turnover

Where the assessee did not have a permanent establishment in India, its business profits cannot be brought to tax, but for hire for barges is concerned, the taxability under section 44BB attracted

The mere theoretical possibility of the product being sold is not sufficient but there should be commercial capability of being sold-SC

Section 35F opens with the words "where in any appeal under this Chapter". The order of deposit is thus an order made in appeal.


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