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3. Precious stones, semi-precious stones and pearls whether real or cultured but excluding those to which entry 3A of this SCHEDULE applies, when sold on or after the 1st April 2013.
On 27 July, 2009, Notification No.24/2009-Service Tax, the Central Government in the Ministry of Finance issued a Notification under section 93(1) of the Finance Act, 1994 exempting the Notification No.24/2009-Service Tax taxable service referred to in section 65(105)(zzg) provided to any person by any other person in relation to management, maintenance or repair of roads, from the whole of the service tax leviable thereon. The earlier Notification was amended on 21 January, 2010 to expand the scope of the exemption to cover, inter alia, the management, maintenance or repair of roads, bridges, tunnels, dams, airports, railways and transport terminals.
The argument of the learned counsel for the respondent-assessee that merely participation of the assessee will not validate the reassessment proceeding if the notice is invalid, is of no help, in view of the fact that the question of validity of notice under Section 147 of the Act is not in issue. The only defect which could be pointed out is that the assessment year was not mentioned in the reasons recorded by the Assessing Officer.
There is another aspect of the matter. The purport of unearned increase is to, in addition to the premium charged by the appellant DDA at the time of granting the lease, entitle the appellant DDA to share 50% of the increase in value of the leasehold rights from the date when the lease was given and till the date of transfer. The transfer of the leasehold rights in the present case, as aforesaid, is under the aegis of this Court. There is no doubt as to the consideration for the said transfer. It is not in dispute that the matter has throughout been pending in this Court on the issue of unearned increase. We are of the opinion that it would be highly unjust and unfair to ask the respondent M/s Aeroshine who though has purchased the leasehold rights at the rates of the year 1983-85, to pay unearned increase to the appellant DDA of the year 2004 or of today.
These regulations may be called the Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) Amendment Regulations, 2013.
The Unique Identification Authority of India (UIDAI) created to issue a unique identification number (“Aadhaar”) to residents of India authorize/recognize “Registrars’ to enroll individuals for Aadhaar. We note that currently UIDAI has primarily engaged with State Governments, Central Ministries and public sector organizations to act as Registrars. As per the information available with the Authority, in the insurance sector only Life Insurance Corporation of India (LIC) is registered as Registrar with UIDAI.
Service Tax Evasion Case Booked by Directorate General of Central Excise Intelligence (DGCEI) Against M/S Shiv Vani Oil and Gas Exploration Services Ltd. and Sub- Contractors of L&T; Total Evasion of Service Tax Estimated at More than Rs. 300 Crore On the basis of aspecific information, officers of the Directorate General of Central Excise Intelligence […]
CA Final students may note that in the January, 2013 edition of Vol. I of the CA Final Paper 5: Advanced Management Accounting Study Material- In pages 14.23 and 14.25 of Chapter 14: Program Evaluation and Review Technique – Illustration 10 has some printing errors. The errors have been rectified and updated Illustration10 has been […]
Corrigendum: Advanced Management Accounting, Revision Test Papers, May 2013 Final students may note that in the January 2013 print of the publication “Revision Test Papers” relevant for May 2013 Final Examination, In pages 32 and 33 − Solution to the Illustration 4 has some printing errors. The errors have been rectified and updated version has […]
In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in super session of the notification of the Government of India in the Ministry of Finance (Department of Revenue) No.31/2013-CUSTOMS (N.T.), dated the
