"26 May 2009" Archive

Disallowance of Excise duty, if any, to be made under section 145A

DCIT Vs Hitech Plast Containers (I) Ltd. (ITAT Mumbai)

6. We have verified the orders and heard:the rival contentions. There is no dispute that there was a qualification in the auditors report whereby the auditors had mentioned Rs.27,47,258/ - as the adjustment required u/s. 145A of the Act for the purpose of valuing the closing stock. Copy of the computation statement for the relevant Assess...

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CBI arrested excise Inspector accepting bribe

THE CBI has arrested an Inspector of Customs & Central Excise posted in the office of Commissioner, Central Excise, CR Building, ITO, New Delhi for demanding and accepting a bribe of Rs. 8,000/- from the complainant. The complainant, an Accountant in a private firm had deposited a bank guarantee of Rs.1,00,000/ – with Central Ex...

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Posted Under: Income Tax |

ICAI asked banks to hire qualified auditors instead of chartered accountants who render ‘compilation engagement’ services

Accounting regulator, Institute of Chartered Accountants of India (ICAI) has asked the private and public-sector banks to hire the services of qualified auditors instead of chartered accountants who render ‘compilation engagement’ services. In a compilation engagement, a chartered accountant uses his accounting expertise as opposed to...

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Posted Under: Income Tax |

Public Notice No. 182 (RE-2008)/2004-2009, Dated: 26.05.2009

Public Notice No. 182 (RE-2008)/2004-2009 (26/05/2009)

In Public Notice No.165 (RE 2008)/2004-09 dated 27.3.2009, the date of the Public Notice No.65 (RE-2008)/2004-09 referred in the second paragraph which was erroneously mentioned as 19.8.2009 stands corrected to read as 19.8.2008....

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Public Notice No. 181 (RE-2008)/2004-09, Dated: 26.05.2009

Public Notice No. 181 (RE-2008)/2004-09 (26/05/2009)

For supply of High Speed Diesel / Furnace Oil from Depots of domestic oil Public Sector Undertakings under para 8.2(b) of FTP, Terminal Excise duty shall be refunded on the basis of duty paid certificate issued by concerned domestic oil Public Sector Undertaking in the format given in Annexure I to ANF 8. Duty refund will be allowed for q...

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Regarding anti-dumping duty on import of Compact Fluorescent Lamps (CFL) originating in, or exported from China PR, Sri Lanka and Vietnam

Notification No. 55/2009-Customs (26/05/2009)

Rate of exchange applicable for the purposes of calculation of such anti-dumping duty shall be the rate which is specified in the notification of the Government of India, in the Ministry of Finance (Department of Revenue), issued from time to time, in exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962) an...

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