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Cus - When there is nothing on record to show that appellant had connived with other three persons to import AA batteries under the guise of declaring goods as Calcium Carbonate, penalty imposed on appellant are set aside: HCCongress fields Rahul Gandhi from Rae Bareli and Kishori Lal Sharma from AmethiCus - The penalty imposed on assessee was set aside by Tribunal against which revenue is in appeal is far below the threshold limit fixed under Notification issued by CBDT, thus on the ground of monetary policy, revenue cannot proceed with this appeal: HCGST -Since both the SCNs and orders pertain to same tax period raising identical demand by two different officers of same jurisdiction, proceedings on SCNs are clubbed and shall be re-adjudicated by one proper officer: HCFormer Jharkhand HC Chief Justice, Justice Sanjaya Kumar Mishra appointed as President of GST TribunalSale of building constructed on leasehold land - GST implicationI-T - If assessee is not charging VAT paid on purchase of goods & services to its P&L account i.e., not claiming it as expenditure, there is no requirement to treat refund of such VAT as income: ITATBengal Governor restricts entry of State FM and local police into Raj BhawanI-T - Interest received u/s 28 of Land Acquisition Act 1894 awarded by Court is capital receipt being integral part of enhanced compensation and is exempt u/s 10(37): ITATCops flatten camps of protesting students at Columbia UnivI-T - No additions are permitted on account of bogus purchases, if evidence submitted on purchase going into export and further details provided of sellers remaining uncontroverted: ITATTurkey stops all trades with Israel over GazaI-T- Provisions of Section 56(2)(vii)(a) cannot be invoked, where a necessary condition of the money received without consideration by assessee, has not been fulfilled: ITATGirl students advised by Pak college to keep away from political eventsI-T- As per settled position in law, cooperative housing society can claim deduction u/s 80P, if interest is earned on deposit of own funds in nationalised banks: ITATApple reports lower revenue despite good start of the yearI-T- Since difference in valuation is minor, considering specific exclusion provision benefit is granted to assessee : ITATHome-grown tech of thermal camera transferred to IndustryI-T - Presumption u/s 292C would apply only to person proceeded u/s 153A and not for assessee u/s 153C: ITATECI asks parties to cease registering voters for beneficiary-oriented schemes under guise of surveys
 
Paying taxes should not be painful process for taxpayers; FM asks IRS probationers to retain their idealism

By TIOL News Service

NEW DELHI, JAN 03, 2016: WHILE addressing the 67th Batch of Officer Trainees (OTs) of the IRS (Customs & Central Excise) yesterday the Union Finance MInister, Mr Arun Jaitley, said that the taxation should not be a painful process for the people. Ideally, the Minister said that the Government should collection taxes like a honeybee, which sucks just the right amount of honey from the flower so that both can survive.

Mr Jaitley also mentioned that the starting point of any activity is investment and the purpose of investment is to yield profitability. And in this process, he said that the investors work out the element of taxability and this tax content which is generated as revenue is used for infrastructure and for fulfilling the social responsibilities of the State as well as to yield more economic activity. And for this, the Finance Minister indicated the road map for the future. He wanted the officers to retain the idealism which they inculcated at the time of joining the service to be retained with the same enthusiasm at the time when they are retiring from Service. For this, the Finance Minister said that they need to have the basic cardinal principle of striving for excellence.

The Finance Minister calls upon the young officers to maintain absolute standards of ethics and 100% integrity; asks them to emulate the Gandhian principle that even in moments of struggle, they should be in a position to maintain the position of ethics and morality on their side.

Their training includes class room training in Customs, Central Excise, Service Tax and Narcotics besides Public Finance and Policy, Foreign Trade Policy, International Conventions, Administrative Law and other related laws including those relating to protection of the environment, heritage of India, national security etc. Besides they are exposed to on the job training in the various field formations of Customs, Excise and Service Tax and also training with para military forces, like BSF, ITBP, Coast Guard, Indian Navy to learn the finer aspects of Border Management and National Security. They are also sent to a leading university abroad for a week’s training on leadership and public policy and to acquaint with international best practices.


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