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Customs – Amend forms for filing appeal in CESTAT (C.A.-3, C.A.-4, C.A.-5)

April 10, 2013 3370 Views 0 comment Print

Form of appeal or application to the Appellate Tribunal. — (1) An appeal under sub-section (2) of section 129A or an application under sub-section (4) of section 129D of the Act to the Appellate Tribunal shall be made in Form No. C.A.- 5.

Exchange Rate of Japanese Yen WEF 10.04.2013

April 10, 2013 1037 Views 0 comment Print

In exercise of the powers conferred by Section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs hereby makes the following further amendments in the Notification of the Government of India, Ministry of Finance

Limited revisions to AS 20 – Earnings per Share – Exposure Draft

April 10, 2013 1943 Views 0 comment Print

Exposure Draft Limited revisions to Accounting Standard 20: Earnings per Share  The following is the Exposure Draft of the limited revisions to Accounting Standard (AS) 20, Earnings Per Share. The limited revisions are proposed primarily to address the conceptual lacuna in arriving at earnings for computing EPS. Section 78 of the Companies Act, 1956 allows […]

Direct Entry Scheme – Requirements for commencement of practical training & Eligibility criteria for IPC Exam

April 10, 2013 1652 Views 0 comment Print

Direct Entry Scheme – Requirements for commencement of practical training and Eligibility criteria for appearing in the Intermediate (IPC) Examination. In order to give overall information to the students who have registered for the Intermediate (Integrated Professional Competence) Course under Direct Entry Scheme and their eligibility to commence practical training and eligibility to appearing in […]

No addition based on rough document seized during search if explained satisfactorily

April 10, 2013 1420 Views 0 comment Print

Mr. Vimal Gupta, Advocate for appellant revenue contends that the amount of Rs. 8.65 lacs being the difference between Rs. 80.00 lacs shown in the seized document and Rs. 71.35 lacs shown in the document evidencing to purchase of Candy House property represents unexplained cash paid by the respondent for purchase of the Candy House and has to be added as her undisclosed income. It is his submission that it was for the respondent to discharge the onus on her to explain the noting found during the search of the premises which indicated Rs. 80.00 lacs as the value of the Candy House property. In view of the failure of the respondent to discharge the burden an amount of Rs. 8.65 lacs has to be added as undisclosed income of the respondent Mr. Subhash Shetty learned counsel for the respondent supports the order.

DVAT 51 reconciliation return Qtr 1 to 4 of 2011-12 extended to 10/05/2013

April 10, 2013 1412 Views 0 comment Print

Sub-rule (1) of Rule 67 of the Delhi Value Added Tax Rules, 2005 and Rule 4 of the Central Sales Tax(Delhi) Rules, 2005 for furnishing of reconciliation return in Form DVAT-51; and,

DVAT – Filing of application in Form WC 01 under new Composition Scheme

April 10, 2013 2183 Views 0 comment Print

In the trade circles, there is some confusion with regard to the last date for filing of application in Form WC 01 under the new Composition Scheme, by the dealers who were not under composition scheme and were paying tax under Section 3 of the DVAT Act, 2004, during the last financial year.

3 Years Jail to Excise Superintendent from Thane

April 10, 2013 1171 Views 0 comment Print

THREE YEARS RIGOROUS IMPRISONMENT TO THEN SUPERINTENDENT OF CENTRAL EXCISE IN A BRIBERY CASE             The Special Judge for CBI, Mumbai has convicted Shri Vilas Prabhakar Narkar, then Superintendent (Preventive) Central Excise, Thane-I Commissionerate Dadar, Mumbai and sentenced him to undergo three years Rigorous Imprisonment with fine of Rs. 10,000/- in a bribery case.

Regarding anti-dumping duty on imports of ‘Sulphur Black’ from China

April 10, 2013 769 Views 0 comment Print

seeks to extend the levy of anti-dumping duty imposed vide notification No. 127/2008-Customs, dated the 3rd December, 2008 on imports of ‘Sulphur Black’, originating in, or exported from, People’s Republic of China for a further period of one year i.e. upto and inclusive of 10th April, 2014

Regarding anti-dumping duty on imports of ‘Sodium Nitrite’ from European Union

April 10, 2013 790 Views 0 comment Print

Whereas, the designated authority vide notification No. 15/1009/2012-DGAD, dated the 23 rd March, 2013, published in the Gazette of India, Extraordinary, Part I, Section 1 dated the 23 rd March, 2013, has initiated review

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