GOODS AND SERVICE TAX REPORTS (GSTR) HIGHLIGHTS
F Where no reason or justification for unexplained delay in implementation of refund order by Department, assessee entitled to interest from grant of approval for refund to date of payment : Vishnu M. Harlalka v. Union of India . . . 82
F When complete waiver of pre-deposit granted by Tribunal, obligation cast on Tribunal to dispose of appeal within 180 days : Commissioner of Central Excise v. HML Agencies P. Ltd. . . . 86
F On a question whether appeal would lie to High Court against interim order of Appellate Tribunal pertaining to pre-deposit and stay, matter referred to appropriate bench : Metal Weld Electronics v. Customs, Excise and Service tax Appellate Tribunal . . . 88
F Settlement Commission in its discretion may allow time to applicants to remove defects or may direct applications be returned : Order rejecting application for non-deposit of admitted duty with interest would amount to administrative or technical order and would not bar second valid application filed by assessee : Vadilal Gases Ltd. v. Union of India . . . 104
F Cenvat credit cannot be claimed on duty paid on welding electrodes used for repairs and maintenance of plant and machinery : Sree Rayalaseema Hi-Strength Hypo Ltd. v. Commissioner of Customs and Central Excise . . . 118
F Where assessee availing of Cenvat credit without entitlement which amounts to contravention of rule with intention to evade payment, extended period of limitation available notwithstanding decision not to impose penalty : Sree Rayalaseema Hi-Strength Hypo Ltd. v. Commissioner of Customs and Central Excise . . . 118
F Wrong provision in show-cause notice or order not to render proceedings illegal : Gokal Steel Rolling Mills v. Commissioner of Central Excise . . . 124
F Where mens rea in not declaring increased capacity apparent, penalty of 100 per cent. of shortfall in amount of duty imposed proper : Gokal Steel Rolling Mills v. Commissioner of Central Excise . . 124
F Activity of pre-fabricated structural components manufactured at specified yards and transferred to site for utilisation fulfils conditions in notification and assessee entitled to exemption : CP Meier v. Commissioner of Central Excise . . . 129
F Inputs used for repair and maintenance of plant and machinery which is essential for smooth manufacturing operations, eligible for Cenvat credit : Panipat Co-operative Sugar Mills Ltd. v. Commissioner of Central Excise . . . 134
F Only issues specified in show-cause notice can be decided and authorities cannot go beyond scope of show-cause notice : N. D. Metal Industries Ltd. v. Commissioner of Central Excise . . . 137
F Cenvat credit rightly taken cannot be denied on presumptions and surmises : N. D. Metal Industries Ltd. v. Commissioner of Central Excise . . . 137
F Cenvat credit admissible in respect of inputs such as welding electrodes used in repair and maintenance of plant and machinery necessary for smooth manufacturing operation : Commissioner of Central Excise v. Oudh Sugar Mills Ltd. . . . 143
F Where assessee attempts to evade duty on coating charges, extended period of limitation invokable and assessee liable to pay penalty : Man Industries v. Commissioner of Central Excise . . . 148
F Excise duty exemption only if vehicles manufactured out of duty-paid chassis and equipment : Kooverji Devshi and Co. P. Ltd. v. Commissioner of Central Excise . . . 155
F Condition that components entitled to Cenvat credit should be in manufacturer's possession in subsequent financial year not applicable to components and assessee entitled to avail of 50 per cent. of credit in subsequent financial year : Owens Corning (India) P. Ltd. v. Commissioner of Central Excise . . . 160
F Notifications :
F Customs Act, 1962 :
Notification under section 14(2) :
Rates of basic customs duty on specified goods : Amendments 24, 25, 26, 28, 29, 30, 31
F Customs Tariff Act, 1975 :
Notification under section 9A(1) :
Anti-dumping duty on import of soda ash from Russia and Turkey . . . 17
Notification under section 9A(1) and (5) :
Anti-dumping duty on import of carbon black used in rubber applications from China, Thailand, Russia and Australia . . . 21
| COMPANY LAW INSTITUTE OF INDIA PVT. LTD. No. 2, Vaithyaram Street, T.Nagar, Chennai - 600017. Phone: (044) 24350752 - 55 Fax: (044) 24322015 info@cliofindia.com |
INCOME TAX REPORTS (ITR) HIGHLIGHTS
F Housing project including commercial units entitled to deduction : Deduction can be given pro rata to units fulfiling conditions laid down in section 80-IB(10) : CIT v. Arun Excello Foundations P. Ltd. (Mad) p. 82
F Unpaid liability on account of employees' dues : Confirmation only in respect of three employees, out of one hundred and seventy : Section 41(1) applicable : CIT v. Chipsoft Technology P. Ltd. (Delhi) p. 106
F Industrial undertaking : Expenses relating to printing work deductible from job charges for purposes of sections 80-IA and 80-IB : CIT v. Delhi Press Patra Prakashan Ltd. (No. 1) (Delhi) p. 1
F Industrial undertaking : More than ten workers permanently involved in carrying on activities in second and third units of assessee : Assessee entitled to deduction : CIT v. Delhi Press Patra Prakashan Ltd. (No. 2) (Delhi) p. 14
F Industrial undertaking : Assessee acquiring raw material on job work basis entitled to deduction : CIT v. Delhi Press Patra Prakashan Ltd. (No. 2) (Delhi) p. 14
F Industrial undertaking : Printed paper produced in units of assessee not excludible from ambit of expression "article" or "thing" : CIT v. Delhi Press Patra Prakashan Ltd. (No. 2) (Delhi) p. 14
F Second and third units of assessee not formed by splitting up or reconstruction of business of existing unit : Assessee entitled to deduction : CIT v. Delhi Press Patra Prakashan Ltd. (No. 2) (Delhi) p. 14
F Denial of deduction on ground of non-fulfilment of condition in section 80-I(2) without disturbing earlier assessments not justified : CIT v. Delhi Press Patra Prakashan Ltd. (No. 2) (Delhi) p. 14
F Amendment in 2009 with retrospective effect from 1-4-2001, that provision for diminution in value of asset debited to profit and loss account to be added valid : Whirlpool of India Ltd. v. Union of India (Delhi) p. 51
F Deduction restored by Tribunal on basis of subsequent decision of High Court entitling assessee to deduction : Decision need not be of jurisdictional High Court : UB Global Corporation Ltd. v. Chief CIT (Karn) p. 87
F Business expenditure : Society acting as agent of assessee : No disallowance can be made : CIT v. Sri Shanmuga Ginning Factory (Mad) p. 96
F Reassessment : Omission to state a jurisdictional fact not a typographical error : Dynacraft Air Controls v. Smt. Sneha Joshi (Bom) p. 102
F Reopening of assessment for earlier years to deny deduction under section 80-IB held to be unsustainable : Reopening of assessment for relevant years amounts to change of opinion : Dynacraft Air Controls v. Smt. Sneha Joshi (Bom) p. 102
F Warrant of authorisation in names of assessees and third persons : Separate orders of assessment and assessee receiving refund of tax : Assessee entitled to return of seized cash with interest : Vijay Prakash Agrawal v. CIT (All) p. 114
F Sales promotion : Office for sales promotion need not be maintained by assessee himself : CIT v. Dey's Medical Stores Mfg. P. Ltd. (All) p. 126
F Original assessment allowing long-term capital loss accepting explanation of assessee : Reassessment after four years not valid : CIT v. Mysore Cements Ltd. (Karn) p. 136
F Assessment by changing method of accounting and no valid reasons given for changing method of accounting : Bypassing statutory appeal remedies : Writ will not issue : Kone Elevator India P. Ltd. v. Asst. CIT (Mad) p. 139
F Rules :
Income-tax (Fifth Amendment) Rules, 2013 p. 1
Income-tax (Sixth Amendment) Rules, 2013 p. 13
F Is corporate donation meant to gain local support and not for business purpose ?-Gopal Nathani, FCA p. 1
F Six month's time limit for section 12AA(2) applications is mandatory, not directory-T. N. Pandey, Retd. Chairman, CBDT p.6
| COMPANY LAW INSTITUTE OF INDIA PVT. LTD. No. 2, Vaithyaram Street, T.Nagar, Chennai - 600017. Phone: (044) 24350752 - 55 Fax: (044) 24322015 info@cliofindia.com |
----- Forwarded Message -----
From: CA. VMV SUBBA RAO <vmvsrao@gmail.com>
To: a_solanki@sify.com
Sent: Saturday, 6 July 2013 1:47 AM
Subject: CBDT Circulars-05-07-2013
From: CA. VMV SUBBA RAO <vmvsrao@gmail.com>
To: a_solanki@sify.com
Sent: Saturday, 6 July 2013 1:47 AM
Subject: CBDT Circulars-05-07-2013
The CBDT has issued Instruction No. 03/2013 dated 05.07.2013 with regard to the the directive issued by the Delhi High Court in Court on Its Own Motion vs. UOI 352 ITR 273 on the procedure to be followed on the receipt and disposal of rectification applications filed u/s 154 of the Act. The CBDT has set out a detailed procedure on where applications should be received, the maintenance of registers and their disposal.
The CBDT has also issued Instruction No. 04/2013 dated 05.07.2013 with regard to the directive issued by the Delhi High Court in Court on Its Own Motion vs. UOI 352 ITR 273 that the demand should not be enforced in cases where no intimation u/s 143(1) was sent by the field authorities in respect of returns which were processed prior to 31.03.2010.
--
Best Wishes
CA. V.M.V.SUBBA RAO
Chartered Accountant
Door No.24-2-1885,
I Floor, Flat No.5,
Siddivinayaka Residency, I Cross,
Central Avenue, MSR Nagar,
Magunta Layout,
Nellore-524 003
Andhra Pradesh
India
Mobile:+91 - 0 9390221100
+91 - 0 9440278412
e-Mail: vmvsr@rediffmail.com
vmvsr@yahoo.co.uk
http://pdicai.org/MyPage/203038.aspx
CA. V.M.V.SUBBA RAO
Chartered Accountant
Door No.24-2-1885,
I Floor, Flat No.5,
Siddivinayaka Residency, I Cross,
Central Avenue, MSR Nagar,
Magunta Layout,
Nellore-524 003
Andhra Pradesh
India
Mobile:+91 - 0 9390221100
+91 - 0 9440278412
e-Mail: vmvsr@rediffmail.com
vmvsr@yahoo.co.uk
http://pdicai.org/MyPage/203038.aspx
Member- IT Committee of SIRC of ICAI
__._,_.___
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