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Archive: 17 December 2013

Posts in 17 December 2013

CBDT allows issue of Refund Intimation U/s. 143(1) beyond time

December 17, 2013 8521 Views 0 comment Print

Several instances have come to the notice of the Board Where due to certain technical or other reasons (which inter-alia included wrong migration of PAN and delayed release of returns by the Centralized Processing Cell to the jurisdictional authorities), intimation in refund cases could not be sent to the concerned assessees within the time-frame

Decision taken by FM on Indirect Tax Related Issues or Disputes

December 17, 2013 687 Views 0 comment Print

1. Pending Service Tax refunds/rebates for export of services – Issue: The prescribed procedure demands documents from other departments, particularly matching of FIRCs with export invoices by banks, on which the taxpayer does not have control.

Centre’s approval not required in court-monitored probe: SC

December 17, 2013 459 Views 0 comment Print

The Supreme Court today held in the case of Manohar Lal Sharma Versus The Principal Secretary and Ors. that no approval from the Centre is required by CBI to prosecute senior bureaucrats in court-monitored corruption cases, strengthening the arms of the agency to go ahead against the officials without taking prior sanction from government.

CBEC website diplays list of Defaulters of Customs and Central Excise

December 17, 2013 4867 Views 0 comment Print

Recently while visiting home page of CBEC website I have noticed that on the page CBEC has placed a link titled ‘ Defaulters of Customs & Central Excise ‘ . When I clicked on this link I observed that the link is displaying list of defaulters area wise and covers defaulters from Major Cities of India.

CBI arrest a JCIT and ITO in bribery case

December 17, 2013 936 Views 0 comment Print

The Central Bureau of Investigation has arrested a Joint Commissioner of Income Tax (IRS:2003 Batch), Bhubaneswar and an Income Tax Officer, Ward-1, Dhenkanal (Odisha) in a bribery case of Rs.Five Lakh.

India signs DTAA with Macedonia

December 17, 2013 1379 Views 0 comment Print

Republic of India and Republic of Macedonia signed the new Agreement for the avoidance Of Double Taxation and the prevention of fiscal evasion (DTAA) with respect to taxes on income . The Salient features of this agreement are as under:

Ratio decidendi of a judgment prevails upo the contrary obiter dicta of another judgment

December 17, 2013 1759 Views 0 comment Print

Having heard the rival submissions and perused the relevant material on record, there is no dispute in principle that the amount is otherwise disallowable on merits as has been accepted by the ld. AR in response to the second ground of the Revenue’s appeal.

Regarding monetary limits for filing appeals by Department before CESTAT/HC and SC

December 17, 2013 1466 Views 0 comment Print

Sub-Section 3 of Section 35R and Section 131BA provides that if an appeal has not been filed by the Department following Instructions issued for not filing appeal below the monetary limit, no person, being a party in appeal, shall contend that the Department has acquiesced in the decision on the disputed issue by not filing appeal.

Simplification of provisions relating to distribution of input service credit by Input Service Distributor -Reg.

December 17, 2013 492 Views 0 comment Print

Comments/views/suggestions invited on simplification of provisions relating to distribution of input service credit by Input Service Distributor in CENVAT Credit Amendment Rules – Last date of submission is 27th December, 2013. The same may also be emailed to jayaprahasam@gmail.com

Amendments to the Company Secretaries Act, 1980

December 17, 2013 1707 Views 0 comment Print

The Council in its meeting held on November 22, 2013 unanimously decided to approach Central Government seeking the following amendments to the Company Secretaries Act, 1980 on priority: a. While the name of the Institute remains ICSI, its members may be named as governance professionals;

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