CCE Vs M/s. Kalvert Foods India Pvt. Ltd. & Ors. (Supreme Court of India)- The statements were recorded by the Central Excise Officers and they were not police officers. Therefore, such statements made by the Managing Director of the Company and other persons containing all the details about the functioning of the company which could be made only with personal knowledge of the respondents and therefore could not have been obtained through coercion or duress or through dictation.
Royal En field (Unit of M/s. Eicher Ltd.) Vs CCE (Supreme Court of India)- In the decision of Government of India v. Madras Rubber Factory Ltd. reported at 1995 (77) ELT 433 (SC) a three-Judge Bench of this Court held that where the goods are delivered in a packed condition at the time of removal the cost of such packing shall be included.
Bombay High Court, while disposing a batch of writ petitions filed by The Retailers’ Association of India along with the Confederation of Real Estate Developers’ Association of India and Multiplex Association of India, upheld the constitutional validity of levy of service tax on renting of immovable property with its retrospective amendment. However, the operation of the order has been stayed for four weeks to enable the petitioners to move the Supreme Court.
The Income Tax Department takes several punitive and deterrent steps to unearth unaccounted money and curb tax evasion. These include scrutiny of tax return; surveys, search and seizure actions; imposition of penalty and launching of prosecution in appropriate cases. Information Technology has also been used in a big way in collection, collation and dissemination of taxpayer information. Tax Information Network (TIN) has been set up as a depository of important tax related information which can be accessed by the Department. The basic components of TIN are information relating to Tax Deduction at Source (TDS), payment of taxes and high value transactions reported in Annual Information Returns (AIR).
Saraswati Sugar Mills Vs Commissioner Of Central Excise, Delhi- III (Supreme Court of India)- The question which arose before the Tribunal was that whether these items used for fabricating structures to support and install various machinery of the sugar plant are capital goods in terms of the Rule 57Q. The Tribunal while allowing the MODVAT credit found that these items, except MS sections and shapes, used for raising structure to support the various machines, parts of machinery of the plant would be covered by the explanation to Rule 57Q as a capital goods.
Idea Mobile Communication Ltd. Vs C.C.E. & C., Cochin (Supreme Court of India)- Amount received by the cellular telephone company from its subscribers towards SIM Card will form part of the taxable value for levy of service tax, for the SIM Cards are never sold as goods independent from services provided.
Rajendra G. Shah V/s Maharashtra State Electricity Distributiohn Company Limited (Bombay High Court) -The petitioner had thus admitted even in the plaint in the suit that the premises were used exclusively for the purpose of office not only by him but were shared with another advocate principally practicing in Mumbai. In view of the fact that the suit premises are exclusively used for the purpose of office, the petitioner is not entitled to claim that he should be charged for electricity consumed at the rate meant for domestic use, i.e. LT I – Residential use. The user of the suit is clearly a non-domestic and non-residential. The executing Court below therefore did not commit any error in holding that the decree which was passed in RCS No. 194 of 2000 was non-executable in view of the fact that the revised tariff had been fixed by the MERC which make the classification of the tariff only on the basis of domestic and non-domestic uses and not on the basis of residential use as opposed to commercial use.
In order to give an opportunity to the defaulting companies to enable them to make their default good by filing such belated documents and to become a regular compliant in future, the Ministry, in exercise of the powers under Section 611(2) and 637B (b) of the Companies Act, 1956 has decided to introduce a Scheme namely, ‘Company Law Settlement Scheme, 2011,’ condoning the delay in filing documents with the Registrar, granting immunity from prosecution and charging additional fee of 25 percent of actual additional fee payable for filing belated documents under the Companies Act, 1956 and the rules made there under. The scheme shall come into force on the 12th Aug, 2011 and shall remain in force up to 31st Oct, 2011. General Circular No.59 /2011
All the members of Institute of Chartered Accountants of India (ICAI), who are in practice, are hereby informed that the Council has formulated the following Know Your Client Norms (KYC norms) at it’s 307th Meeting held on 13th July, 2011, which shall be recommendatory in nature, and apply only in case of attest function.
1. Last date for submission of applications on the website www.meficai.org is 27th August, 2011.(5.30 PM.) 2. Members are advised to fill MEF well in advance to avoid last minute rush and technical problems. 3. The information filled in by the applicant in MEF can be edited/modified any number of times before online submission of MEF. 4. All correspondence, acknowledgement, discrepancy letters, etc. will preferably be through e-mail only. Please fill up e-mail id correctly and ensure that it is active.
