Haleema Zubair, Tropical Traders Vs. State of Kerala (Supreme Court of India)- The business activities relating to transaction of M/s. Poseidon Food Company unless otherwise proved cannot bring the appellant within the purview of definition of `dealer’. If she was not a dealer, the professional fees earned by her would not be exigible to payment of sales tax; only because the appellant happens to be the proprietress of M/s. Tropical Traders also.
NOTIFICATION NO 32/2008-Service Tax – Refund application can now be filed within six months from the end of the relevant quarter during which the said goods have been exported. earlier itwas only sixty days.the amending notification no. 32/2008-ST dated 18-11-2008 is appendedherewith for info.
In exercise of the powers conferred by Section 5 read with Section 3(2) of the Foreign Trade (Development & Regulation) Act, 1992 (No.22 of 1992) and also read with Para 1.3 and Para 2.1 of the Foreign Trade Policy, 2004-2009, the Central Government hereby makes the following amendments to Notification No.93(RE-2007)/2004-2009 dated 1st April, 2008 read with Notification No. 37 (RE-2008)/2004-09 dated 3rd September, 2008.
The principal notification No. 21/2002-Customs, dated the 1st March, 2002 was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 118 (E), dated the 1st March, 2002 and was last amended vide notification No. 120/2008, dated the 4th November, 2008, which was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 769(E) of the same date.
n exercise of the powers conferred by Section 14 of the Customs Act, 1962 (52 of 1962), the Board hereby makes the amendment in the Notification of the Government of India, Ministry of Finance (Department of Revenue) No. 115/2008-CUSTOMS (N. T.), dated the 29th October, 2008 vide number S. O. 2546 (E), dated the 29th October, 2008.
The Principal notification was published in the Gazette of India, Extraordinary, vide Notification No.36/2001 – Customs (N.T.), dated, the 3rd August, 2001 (S.O.748 (E), dated, the 3rd August, 2001) and was last amended vide Notification No. 116/2008-Customs (N.T.), dated, the 31st October, 2008 (S.O. 2577 (E) dated 31st October, 2008).
We undertake to submit a self certified copy of ‘Drug Manufacturing Licence’ in case of export of Pharmaceutical Product(s) within a period of three years from the date of issue of EPCG Authorization failing which the Bank Guarantee /Legal Undertaking executed/furnished at the time of clearance of Capital Goods with Customs authorities/Regional Authorities of DGFT, as the case may be, is liable to be forfeited/invoked and I/We would be liable to pay Customs Duty saved amount together with applicable interest thereon from the date of first import till the date of final payment.
Representations have been received from trade and industry seeking clarification on the issue whether proportionate credit should be reversed in cases where a manufacturer avails credit of the amount of duty paid by supplier as reflected in the excise invoice, but subsequently the supplier allows some trade discount or reduces the price,
Income tax – DTAA – Assessee is incorporated in Netherlands – engaged in airlines business of carrying passengers as well as cargo – gets licence from Airport Authority of India for cargo space – enters into a contract with a company to take care of cargo-booking and handling service on commission basis – While making payments to the outsourced company the assessee adjusts the rent payable to AAI – AO treats the rent deducted from the payments made to the outsourced company as income taxable to tax in India – Tribunal finds it inextricably linked to the cargo handling business for which licence was issued and such rent adjustment cannot be treated as ‘income from other sources – Tribunal has correctly understood the law – Revenue’s appeal dismissed.
PNB Finance Ltd. v. CIT – Where the Banking Undertaking, inter alia, included intangible assets like goodwill, tenancy rights, manpower and value of banking licence, it was not possible to compute capital gains and, therefore, the amount of compensation received by the Banking Undertaking on its transfer was not taxable under section 45 of the Income-tax Act.
