News Update

 
Page 687
New Delhi, June 06, 2013
I-T - Whether when an undertaking employs workers of sister concern and has total control over him regarding the work done, deduction u/s 80I can be availed by undertaking - YES: Delhi HC
 
Mumbai, June 06, 2013
CENVAT – In case commissioning of plant is done by different party, then prima facie assessee who undertakes maintenance activity cannot take credit for ST paid on commissioning – Pre-deposit ordered: CESTAT
 
New Delhi, June 06, 2013
Cus - Denial of Cross examination of witnesses – Unless exceptional circumstances exist, opportunity of cross examination cannot be denied – Delhi HC remits matter to Tribunal
 
New Delhi, June 05, 2013
Whether when certain income of an 'intimately connected' assessee is held to be taxable in hand of another assessee, reassessment beyond six years cannot be initiated without affording an opportunity to the another assessee - YES:HC
 
Mumbai, June 05, 2013
Appellant collecting ST from customers but not paying to govt - question of showing any leniency would not arise as appellant has played a fraud on exchequer and any leniency would send wrong signals - Pre-deposit ordered: CESTAT
 
Ahmedabad, June 05, 2013
CX – Valuation - Just because appellant has mentioned 'exclusively for industrial use' and 'not to be sold in loose', Rule 34 cannot be compulsorily applied - unless assessee claims exemption from printing MRP under Rule 34 of SWM Rules, MRP is required to be printed - Appeal allowed: CESTAT
 
Hyderabad, June 04, 2013
I-T - Whether merely because AO order does not contain reasons as to why he accepted assessee’s claim, his order becomes susceptible for revision u/s 263 - NO: AP High Court
 
New Delhi, June 04, 2013
ST - Commercial Training or Coaching Service - CBEC Circular restricting exemption under Notification No 12/2003 only to standard text books is illegal and unauthorized: CESTAT
 
Mumbai, June 04, 2013
Customs Valuation - Strictures against Deputy Commissioner, GATT Valuation Cell, Mumbai - High Court remands matter with a direction to Commissioner to assign job to some other officer for adjudication
 
New Delhi, June 03, 2013
FSDC reviews credit quality of banking system and addl capital needs under Basel III
 
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