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Wednesday , May 22, 2013 | Updated : May 22, 15:56 IST
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NEWS FLASH
 
Import of De-oiled soya extract & Oil cake, Oil cake meal of Groundnut, Sunflower, Canola, Mustard to attract Nil Customs duty till 30th September, 2013 (See Tariff 30 in 'What's New') Ponzi Scam: FM admits regulatory gaps; says efforts on to tailor New Law Court extends police custody of CBI SP arrested in bribery case ST - Flying Institutes providing training for Pilot Licence and on Engineering Institutes for obtaining Basic Maintenance Licence - Not liable to pay ST - Board Instruction quashed: HC (See 'Breaking News') Negative list services - Are they exempted for the purpose of ST 3 Return? (See 'DDT' Column) I-T - Whether exemption u/s 54 is restricted to a 'residential unit' and is not available to a 'residential house' having multiple floors with independent entrace - NO, it is available: ITAT (See 'Breaking News') Business and Welfare in India: A Historical Perspective (See 'Guest' Column) ST - as data being retrieved or accessed by applicant is their own prima facie it cannot be said that applicant have received service of 'Online information and database access or retrieval' - stay granted: CESTAT (See 'Breaking News') TDS rate cut on interest payment may help Indian debt market, hopes MoF (See 'Mixed Buzz') TNVAT - Whether when assessee has paid 12.5% VAT instead of actual rate of 4%, it cannot have benefit of total refund merely because it is purchaser of capital goods: HC (See '2013-TIOL-HC-MAD') Can proceedings against co-noticees be deemed to be concluded if main assessee pays duty, interest and penalty - YES: CESTAT (See'DDT') CX - All 3 SCNs which raise demand are for period beyond 1 year - since there is no difference of opinion that demand is liable to be set aside on ground of revenue neutrality, appeal allowed: CESTAT by Majority (See 'Breaking News') Tariff Values for Gold reduced (See NT 55 in 'What's New') I-T - Whether conversion of warrants into shares by paying remaining 90% amount is neither an extinguishment nor relinquishment of any rights in assets (See '2013-TIOL-377-ITAT') President appoints Defence Secy Shashi Kant Sharma as New CAG; Mr Sharma to take over on Thursday Hardwork pays; CBDT issues fresh notices to non-filers; collects Rs 600 Cr from notices issued earlier (See 'Breaking News') SC agrees to hear PIL to stay IPL matches on ground of spot-fixing ACC appoints Anil Swarup as Addl Secy in Ministry of Labour + Vinod Kr Thakral as Addl Secy in Ministry of Steel Justice K J Sengupta of Uttarakhand HC is promoted as Chief Justice of AP High Court (See 'Mixed Buzz') I-T - Whether submission of audited accounts per se would oust jurisdiction of AO to pass a direction for special audit u/s 142 - NO: HC (See 'Breaking News') Service Tax - Pre-deposit - Bharti Airtel gets relief of Rs 55 Cr from High Court (See 'DDT' Column) CBEC allows filing of revised return for the period July to September 2012 (See 'DDT') DVAT - Whether multifunctional printers are to be taxed as per unclassified rate of 12.5 per cent (See '2013-TIOL-424-HC') Transaction Cost - Constitution of 2nd Task Force (See 'DDT') I-T - Whether an assessment can be reopened on basis of valuation relating to another assessee (See '2013-TIOL-417-HC') FM's word of wisdom for Competition Commission - Beware of predatory behaviour (See 'Mixed Buzz') India, China resolve to take measures to overcome trade imbalance (See 'Mixed Buzz') DGCEI Hqs books Bhushan Steels for excise duty evasion (See 'Mixed Buzz') Sahar Airport Customs seizes 26 kg of methaqualone worth Rs 13 Cr; arrests South African pax India, UK ink pact to promote Health Sector (See 'Mixed Buzz') Relevance of relevant date for refund under Rule 5 for export of services (See 'DDT' Column) Notfn 5(RE-2013) - Import policy of cars - A National security concern (See 'Guest' Column) Whether interlocutory orders passed by CESTAT are appealable to High Court - Matter referred to Larger Bench (See 'Breaking News')
 

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