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Thursday , January 29, 2015 | Updated : Jan 29, 11:14 IST
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NEWS FLASH
 
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 Have to maintain certain level of civility with assesses FM at CBEC Function + Exchange Rates - Euro goes down (See 'DDT') Refund of SAD - refund rejected on ground that at time of filing claim VAT not paid - since law allows importer to pay VAT within 21 days of close of month, claim may be said to be premature - however, as claim filed within one year from payment of SAD, rejection is not sustainable: CESTAT (See 'Breaking News') 'Service' re-defined under proposed GST (See 'ST se GST tak') I-T - Whether for purpose of Sec 158BD, a satisfaction note is sine qua non and must be prepared by AO before he transmits records to other AO who has jurisdiction over such other person - YES: HC (See 'Breaking News') Is a Customs Broker an agent of the Importer? (See 'DDT' Column) ST - ROM - Revenue cannot take new ground and seek rectification of mistake in final order: CESTAT (See 'Breaking News') CBEC should clarify & help the 'Swachh Bharat Abhiyan'? (See 'Budget Run-Up') Whether due date for payment of employer's contributions to PF is to be reckoned with reference to date of actual payment of salaries or wages or with reference to close of concerned month to which salaries pertain (See '2015-TIOL-214') Documents to be submitted by First Time Importers in Mumbai Customs (See 'DDT')
 
   
BUDGET RUN-UP 2015-2016

ICEGATE should allow simultaneous availment of exemption notifications
By H S Prasad
Published: January 29, 2015

CBEC should clarify & help the 'Swachh Bharat Abhiyan'?
By Pritam Mahure
Published: January 28, 2015

DDT (Daily Dose of Taxation)

Service Tax - Value of goods and materials supplied free of cost outside taxable value or gross amount charged?

With VIJAY KUMAR

Service Tax - Value of goods and materials supplied free of cost outside taxable value or gross amount charged?
Published: January 29, 2015

View previous DDTs »

WHAT'S NEW
CUS
:
Not 03 NT 13 Cir 05
ADD
:
Not 02 SG: 04  
EX
:
Not 03 NT 01 Cir ins
S.TAX
:
Not 01 Cir 181  
I-T
:
Not 03 Cir 01  
DGFT
:
Not 107 PN 82 Cir15
RBI
:
Cir 67-68 Notif  
BREAKING NEWS

Mumbai, January 29
Cus - Assessment on shore tank quantity or Transaction value - Board Circular to be considered retrospective as same is not contradictory to earlier Circular - Rule of unjust enrichment to apply even in provisional assessments: CESTAT

Mumbai, January 29
Income tax - 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

New Delhi, January 29
Service Tax - 'Commercial Training and Coaching' - Mandatory Training of Insurance Agents - not liable to pay Service Tax: CESTAT

New Delhi, January 28
Union Cabinet decides to accept Bombay HC decision in Vodafone TP adjustment case

Mumbai, January 28
Refund of SAD - refund rejected on ground that at time of filing claim VAT not paid - since law allows importer to pay VAT within 21 days of close of month, claim may be said to be premature - however, as claim filed within one year from payment of SAD, rejection on technical ground is not sustainable: CESTAT

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

Whether it is necessary for AO to write words Yes I am satisfied on basis of above facts that income chargeable to tax has escaped assessment after factual narration of escapement of income; failing which reopening would be invalid.

Published: January 27, 2015

Post Answer »
THE COB (WEB)
Voda case - Modi Cabinet shows courage but must protect India's 'taxing right'by SHAILENDRA KUMAR

Voda case - Modi Cabinet shows courage but must protect India's 'taxing right'
Published: January 29, 2015

View previous 'The COB(Web)s'»
TIOL EDITORIAL
Resolve all issues resulting from disbanding of Planning Commissionby TIOL EDIT TEAM

Resolve all issues resulting from disbanding of Planning Commission
Published: January 19, 2015

View previous Editorials»

ICE CUBES
by NARESH MINOCHA For Every Reform; there is equal & opposite counter-reform

For Every Reform, there is equal & opposite counter-reform
Published: January 27, 2015

View previous ICE CUBEs »

GUEST COLUMN

Pre-deposit Blues - Erroneous drawback is not duty? by S MURUGAPPAN

Pre-deposit Blues - Erroneous drawback is not duty?
Published: January 27, 2015

View previous Guest Column(s);

ST se GST tak

'Service' re-defined under proposed GST by B N GURURAJ

'Service' re-defined under proposed GST
Published: January 28, 2015

View previous ST se GST tak(s)»

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

 
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