"23 January 2013" Archive

PVAT – e-Filing of VAT 15 to start from 23rd January 2013

NA (23/01/2013)

This is to inform all concerned that the e-Filing of VAT 15 for 3rd quarter of Financial Year 2012-13 is likely to start from 23rd January 2013. Sufficient time of 1 month would be provided to e-file VAT 15 for the above mentioned quarter....

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Regarding increase in basic custom duty on all types of crude edible oil

Notification No. 02/2013-Customs (23/01/2013)

In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the ...

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Sec 50C Not Apply to Transfer of FSI & TDR

Income-tax Officer Vs Shri Prem Rattan Gupta (ITAT Mumbai)

In this case, the matter was not referred by the A.O. to the DVO. We, therefore, set aside the order of the Ld. CIT (A) and restore the issue of valuation to the file of the A.O. with the direction to refer the same to the DVO in the light of our above observations....

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Notification No. 08/2013 – Customs (N. T.), Dated- 23rd January, 2013

Notification No. 08/2013-Customs (N.T.) (23/01/2013)

In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs, being satisfied that it is necessary and expedient so to do, hereby makes the following amendment in the ...

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NSDL have no jurisdiction to adjudicate claim of title in respect of demated shares

National Securities Depository Ltd. Vs Kamlesh Shah (Delhi High Court)

NSDL is not empowered to decide and/or adjudicate the claim of title in respect of demated shares. Any dispute with regard to the ownership and/or title of any share including demated, the proper forum is somewhere else. Unless the title and/or any objection regarding transfer of shares is decided finally in case of dispute and in case t...

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Warranty provisions made on scientific & Reasonable basis is allowable

Textronix India (P.) Ltd. Vs Deputy Commissioner of Income-tax (ITAT Bangalore)

It is seen from the methodology that the assessee takes into account the warranty liability for the accounting period after bifurcating the likely cost on account of labour, material etc. The summary of the provision also shows that wherever excess provision was made in an earlier year, the same was reversed in the subsequent period....

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S.194H TDS not deductible on charges for of utilization of credit card facilities

M/s. Tata Teleservices Ltd. Vs. Deputy Commissioner of Income-tax (TDS) (ITAT Bangalore)

Commission paid to the credit card companies cannot be considered as falling within the purview of S.194H. Even though the definition of the term commission or brokerage used in the said section is an inclusive definition, it is clear that the liability to make TDS under the said section arises only when a person acts behalf of another pe...

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Income of non-resident co., from admin & support services to oil and gas field projects of Indian company outside India is not taxable in India

Commissioner of Income-tax Vs J. Ray Mc. Dermott Middle East Inc. (Uttarakhand High Court)

Assessee is a non-resident company. It entered into a contract with an Indian Company, but agreed to provide administrative and personnel support outside India. It noticed that the payment, pursuant to the contract, was received outside India. The Tribunal held that the said contract did not show that the administrative and the support se...

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Cenvat Credit cannot be denied for procedural defects of minor nature

BSNL Vs Commissioner of Central Excise (CESTAT Chennai)

We have considered arguments on both sides. Firstly, we notice that if the DGM (Projects), Salem followed the procedure of getting registered as "input service distributor" and then distributed the credit to SSA Salem there was nothing wrong in the credit availed by the appellant. Basically the issue involved is one of procedures and not ...

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Compounding application can be rejected on ground of suppression of facts if omitted fact was material to relief claimed by applicant

Girish B. Mishra Vs Commissioner of Central Excise, Ahmedabad (CESTAT Ahmedabad)

The question that is to be examined is whether it can be said that appellant has failed to disclose any material facts or tried to mislead the Chief Commissioner. I have already reproduced the contradictions observed by the Chief Commissioner. Before the compounding of offence takes place, the penalty imposed is liable to be paid and the ...

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