"05 April 2013" Archive

If assessee failed to comply with stay order, appeal liable to be dismissed for such non-compliance

Gurjar Enterprises Vs Commissioner of Central Excise, Jaipur (CESTAT Delhi)

Notice of dismissal was issued on 29-2-2012 to show cause as to the reason why appeal of the appellant should not be dismissed for non-compliance with the stay order....

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Abatement available on GTA service even if consignment note not mentions about non-availment of credit

Eastern Coalfields Ltd. Vs Commissioner of Central Excise & Service Tax, Bolpur (CESTAT Kolkatta)

In absence of any particular format prescribed under the respective notifications, the department insisting for declaration on each consignment note for allowing the abatement under the said Notifications is un-sustainable in law. In these circumstances the declarations filed by the Goods Transport Agencies (GTA) in their letter-heads or ...

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Services for installation of storage tank outside factory are input services

M/s. Deepak Fertilizers and Petrochemicals Corporation Ltd. Vs The Commissioner of Central Excise (Bombay High Court)

Rule 3(1) allows a manufacturer of final products to take credit inter alia of service tax which is paid on (i) any input or capital goods received in the factory of manufacturer of the final product; and (ii) Any input service received by the manufacturer of the final product. The subordinate legislation in the present case makes a disti...

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In winding up hearing Counter claim by way of unliquidated sum in damages is no defence to petitioner’s claim which had been admitted by company

Re. Brand Value Communications Ltd. (Calcutta High Court)

Since the company's counterclaim is by way of an unliquidated sum in damages, and the company has no defence to the petitioner's claim herein, the company is permitted to furnish security to the extent of the petitioner's claim of Rs.1,41,38,347/- within a fortnight from date whereupon this petition will remain permanently stayed. The com...

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Due Dated Extended for bar-coding on Primary level packaging on export consignment

Public Notice No. 54 (RE-2012)/2009-2014, (05/04/2013)

In exercise of the powers conferred under Paragraph 2.4 of the Foreign Trade Policy, 2009-14, as amended from time to time, Director General of Foreign Trade hereby makes following amendments in Public Notice No. 59(RE-2010)/2009-14 dated 30.06.2011 read with Public Notice No. 10 (RE-2010)/2009-2014 dated 11.07.2012....

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Public Notice No. 53 (RE-2012)/2009-2014, Dated: 05.04.2013

Public Notice No. 53 (RE-2012)/2009-2014 (05/04/2013)

In exercise of the powers conferred under Paragraphs 2.1, 2.4 and 2.29 of the Foreign Trade Policy, 2009-14, the Director General of Foreign Trade hereby allocates a total quantity of 8,587 MTs(raw value) of raw cane sugar (at 98 degree Pol), out of non-levy(free sale) quota for export under tariff rate quota(TRQ) to USA for the US fiscal...

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SEBI : (Stock Brokers and Sub-Brokers) (Amendment) Regulations, 2013

Notification No. LAD-NRO/GN/2013-14/01/8129 (05/04/2014)

In exercise of the powers conferred by section 30 of the Securities And Exchange Board of India Act, 1992 (15 of 1992), the Board hereby makes the following regulations to further amend the Securities and Exchange Board of India (Stock Brokers and Sub-brokers) Regulations, 1992....

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Circular 1 of 2013 – Consolidated FDI Policy (Effective from 5-4-2013)

Circular 1 of 2013 (05/04/2013)

The present consolidation subsumes and supersedes all Press Notes 'Press Releases' Clarifications' Circulars issued by DIPP, which were in force as on April 4, 2013 and reflects the FDI Policy as on April 5 2013. This Circular accordingly will take effect from April 5, 2013. Reference to any statute or legislation made in this Circular sh...

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Stay on transfer of Judicial Member by CAT valid as transfer not been made by a proper collegium

Sunil Kumar Yadav Vs Union of India (Allahabad High Court)

The interim order makes a mention about the guidelines laid down by Hon'ble Apex Court in its judgment dated 5.1.2004 in Ajay Gandhi v. B. Singh [2004] 134 Taxman 537 providing for a Collegium comprising the President, ITAT and two Senior Most Vice Presidents. A reference has also been made to a D.O letter dated 2.11.2012 (Annexure-4)from...

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Prior to AY 1992-93, interest receipts not to be excluded from ‘Profit of the Business’ for Sec. 80HHC calculations

Commissioner of Income-tax Vs Anil Chanana (Delhi High Court)

Supreme Court in the case of P. R. Prabhakar v. CIT [2006] 284 ITR 548 where the order of the Special Bench cited (supra) stands approved. It was clarified that the amendment made to clause (baa) of the Explanation below Section 80HHC which defines "profits of the business" in such a manner as to exclude receipts like interest, commissio...

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