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NEWS FLASH
 
CCEA okays proposal to supply gas at uniform price to all fertiliser plants through a pooling mechanism + approves amendment to guidelines for financial support to PPP in infra sector Justice Rajendra Dhirajlal Kothari + Justice Abdullah Gulamahmed Uraizee appointed as full-fledged Judge of Gujarat HC + President appoints four Addl Judges in Bombay HC + two Addl Judges in Gujarat HC Lucknow CBI nabs Income Tax Officer accepting bribe of Rs 2 lakhs CBEC assigns addl charge of Mumbai II Zone to CC, Vizag; DG (ST) to CC, Mumbai I Zone; Nagpur Zone to CC, Bhubaneshwar and DG (Safeguard) to DGEP (See 'Service News') India's external debt rises by 3.5% by December-end (See 'Mixed Buzz') WB okays USD 500 mn funds for SIDBI for MSME growth innovation APA - CBDT extends deadline for filing roll back application to June 30, 2015 (See 'Mixed Buzz') Ease of Doing Business - Commerce Ministry to empower SEZ Development Commissioner to reduce paper work Cus - Multifunction machines are different and distinct from photocopying machines and,therefore, during period prior to amendment of FTP w.e.f 5.6.2012, import of these goods did not require any import licence: CESTAT by Majority (See 'Breaking News') Non-stop service to facilitate trade between India & Qatar: First Direct Container vessel reaches Doha CII Business Confidence Index marginally improves in Q4 Import of old photocopier - for determining value of used capital goods, NIDB data is not relevant as no two consignments of used goods would be comparable - enhancement of value rejected: CESTAT by Majority (See 'Breaking News') FTP - Tomorrow? + FTP - Guidelines for processing of online IEC applications (See 'DDT') Income tax - Whether if assessee-club sells complimentary liquor for a price, such activity is to be construed as commercial in nature - YES: ITAT (See 'Breaking News') Refund under Rule 5 - Implications of amendment in Budget 2015 (See 'ST se GST tak') ST - Amount paid in excess during investigation - Merely because adjudicating authority had appropriated amount paid towards tax demand, refund cannot be denied when Commr(A) reduced tax liability by holding that excess amount is not deposit & claim is hit by bar of limitation: CESTAT (See 'Breaking News') Company Law - Amounts received by private companies from their members, directors or their relatives before 1st April 2014 - Clarification (See 'DDT') Whether final order of re -assessment passed without giving opportunity of hearing to assessee is void ab initio (See '2015-TIOL-772') Pension Cut for CRPF Commandant using an official vehicle while on leave (See 'DDT') India about to enter into high trajectory growth orbit, says President Mumbai CBI nabs Income Tax Officer accepting bribe Election Commission organises consultation on 'Political Finance & Law Commission Measures' (See 'Mixed Buzz') TRAI seeks feedback on over-the-top services (See 'Mixed Buzz') President confers Bharat Ratna on Madan Mohan Malviya posthumously Service tax e-payment can be made till midnight of March 31; RBI extends banking hours till 8 pm tomorrow (See Cir 182 in 'What's New') 14 % Service Tax not with effect from 1st April 2015 – Nagpur Commissioner’s Clarification (See 'DDT') CX - while incorporating provision into existing statute, Legislatures are fully aware of position of law - Pre-deposit mandatory even in respect of orders passed prior to 06.08.2014 and appeals filed thereafter: CESTAT (See 'Breaking News') DRI alone seizes over 200 kg gold on All India basis in past 72 hours CX - Digital Records - Board Proposes to issue Notification and Circular - Invites Feedback (See 'DDT') I-T - Whether insertion of Explanation to Sec 80-IB(9) vide Finance Act, 2009 with retro effect explaining meaning of term 'undertaking' is unconstitutional and ultra vires to Article 14 of Constitution - YES: HC (See 'Breaking News') Interest on differential duty consequent to final assessment (See 'Guest' Column) ST - Work undertaken is harvesting & transporting sugarcane to factory for which labour is employed - Service brought under tax net under Manpower Recruitment envisages supply of labour per se - Demand not sustainable: CESTAT (See 'Breaking News') Registration - Netizens frustrated by ACES (See 'DDT') I-T - Whether sec 127(2)(a) is a machinery provision and CIT is having power of transfer even without assigning any reason: HC (See '2015-TIOL-767')
 
   
corner UNION BUDGET 2015-16

UNION BUDGET 2015-16

DDT (Daily Dose of Taxation)

FTP -Tomorrow?

With VIJAY KUMAR

FTP -Tomorrow?
Published: March 31, 2015

View previous DDTs »

WHAT'S NEW
CUS
:
Not 13 NT 33 Cir 08
ADD
:
Not 07 SG: 01  
EX
:
Not 05-17 NT 03-11 Cir 1000
S.TAX
:
Not 03-09 Cir 182  
I-T
:
Not 23 Cir 04 itinst 02
DGFT
:
Not 115-117 PN 88 Cir16,17
RBI
:
Cir 89 Notif  
BREAKING NEWS

New Delhi, March 31
Cus - Multifunction machines are different and distinct from photocopying machines and,therefore, during period prior to amendment of FTP w.e.f 5.6.2012, import of these goods did not require any import licence: CESTAT by Majority

New Delhi, March 31
Import of old photocopier - for determining value of used capital goods, NIDB data is not relevant as no two consignments of used goods would be comparable - enhancement of value rejected: CESTAT by Majority

Mumbai, March 31
Income tax - Whether if assessee-club sells complimentary liquor for a price, such activity is to be construed as commercial in nature - YES: ITAT

Ahmedabad, March 31
ST - Amount paid in excess during investigation - Merely because adjudicating authority had appropriated amount paid towards tax demand, refund cannot be denied when Commr(A) reduced tax liability by holding that excess amount is not deposit & claim is hit by bar of limitation: CESTAT

Kolkata, March 30
CX - while incorporating provision into existing statute, Legislatures are fully aware of position of law - Pre-deposit mandatory even in respect of orders passed prior to 06.08.2014 and appeals filed thereafter: CESTAT

MIXED BUZZ
XCuSE Updates
XCuSE
PUZZLE TO DAZZLE
Punit Vedby PUNIT PAVAN VED CA

Can AO refer case to special audit u/s 142(2A) in course of remand proceedings by CIT(A)or ITAT?

Published: March 30, 2015

Post Answer »
THE COB (WEB)
Black Money Bill - Compliance Window - Is it a Gamble?by SHAILENDRA KUMAR

Black Money Bill - Compliance Window - Is it a Gamble?
Published: March 26, 2015

View previous 'The COB(Web)s'»
TIOL EDITORIAL
Tax Reforms can serve as adrenalin for accelerating growth by TIOL EDIT TEAM

CAG gives another wake-up call on tax expenditure
Published: March 24, 2015

View previous Editorials»

ICE CUBES
by NARESH MINOCHA Don't use monetary policy as magic wand to tame inflation

Don't use monetary policy as magic wand to tame inflation
Published: March 27, 2015

View previous ICE CUBEs »

GUEST COLUMN

Interest on differential duty consequent to final assessment by CS D KALIRAJAN

Interest on differential duty consequent to final assessment
Published: March 30, 2015

View previous Guest Column(s);

ST se GST tak

Refund under Rule 5 - Implications of amendment in Budget 2015 by DEEPAK SUNEJA

Refund under Rule 5 - Implications of amendment in Budget 2015
Published: March 31, 2015

View previous ST se GST tak(s)»

View 'ST - New Law +VE or -VE' Articles»

 
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