TIOL-DDT 1151 · the untouched capture
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<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><font color="#663399">TIOL-DDT 1151 </font><br>
10.07.2009 <br>
Friday </strong></font></p>
<p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><font color="#006600">WITH EFFECT FROM .... </font></strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>NORMALLY</strong> the Finance Bill which we usually call the Budget comes into effect on it receiving the assent of the President. But it is not all that simple. Now with every Budget having its usual quota of retrospective amendments, many provisions of the Budget come into effect many many years before the Budget is presented. Can you imagine an Additional Commissioner being given the power to search with effect from 1.6.1994? – Yes, a full 15 years before the budget was presented.</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">We have been getting calls from Netizens about the effective dates of various provisions. In the Income Tax side, most of the provisions of the Finance Bill will come into force with effect from 01.04.2010; here is a list of some important provisions and their effective dates.</font></p>
<p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>INCOME TAX</strong></font></p>
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<td width="35" valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Sl. No.</strong></font></p></td>
<td width="112" valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>With effect from</strong></font></p></td>
<td width="277" valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Subject</strong></font></p></td>
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<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1. </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">01.04.2011</font></p></td>
<td valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Amendment to Section 44AA – Maintenance of Accounts </font></p></td>
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<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">2. </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">01.04.2011 </font></p></td>
<td valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Amendment to Section 44AB – Audit of Accounts </font></p></td>
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<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">3. </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">01.04.2011 </font></p></td>
<td valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Section 44AD Substituted – Presumptive Income </font></p></td>
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<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">4. </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">01.04.2011 </font></p></td>
<td valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Amendment to Section 44AE – Income from goods Transport. </font></p></td>
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<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">5. </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">01.10.2009 </font></p></td>
<td valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Amendment to Section 50C – Value of Capital asset transferred </font></p></td>
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<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">6. </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">01.10.2009 </font></p></td>
<td valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Amendment to Section 56 – Transactions without consideration of more than Rs. 50,000/- </font></p></td>
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<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">7. </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">01.04.2003 </font></p></td>
<td valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Amendment to Section 80A – Deductions </font></p></td>
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<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">8. </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">01.10.2009 </font></p></td>
<td valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Amendment to Section 80G – Charitable Institutions </font></p></td>
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<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">9. </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">01.04.2008 </font></p></td>
<td valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Amendment to Section 80IA – Power Generation </font></p></td>
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<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">10. </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">01.04.2000 </font></p></td>
<td valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Section 80IB – Tax Holiday </font></p></td>
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<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">11. </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">01.10.2009 </font></p></td>
<td valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Section 90 Substituted – DTAA – <a href="http://www.taxindiaonline.com/RC2/inside2.php3?filename=bnews_detail.php3&newsid=9343" target="_blank"><strong>See Cobweb </strong></a></font></p></td>
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<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">12. </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">01.10.2009 </font></p></td>
<td valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Amendment to Section 92C – Transfer Pricing – Arm's Length Price </font></p></td>
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<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">13. </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">01.04.1998 </font></p></td>
<td valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Amendment to Section 115JA – Deemed Income </font></p></td>
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<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">14. </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">01.04.2001 </font></p></td>
<td valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Amendment to Section 115JB </font></p></td>
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<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">15. </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">01.10.2009 </font></p></td>
<td valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Amendment to Section 131 – Discovery, Inspection etc – “Dispute Resolution Panel” included </font></p></td>
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<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">16. </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">01.06.1994 </font></p></td>
<td valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Amendment to Section 132 – Search and Seizure – Additional Commissioner Empowered </font></p></td>
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<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">17. </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">01.10.2009 </font></p></td>
<td valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Amendment to Section 139A – PAN – “Quarterly” removed </font></p></td>
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<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">18. </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">01.04.1989 </font></p></td>
<td valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Amendment to Section 147 – Reassessment – Scope enhanced </font></p></td>
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<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">19. </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">01.10.2009 </font></p></td>
<td valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Section 194C Substituted – TDS – Payment to Contractors </font></p></td>
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<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">20. </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">01.10.2009 </font></p></td>
<td valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Amendment to Section 194I – TDS – Rent </font></p></td>
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<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">21. </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">01.10.2009 </font></p></td>
<td valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Amendment to Section 200 – Quarterly Returns gone – Periodicity to be prescribed </font></p></td>
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<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">22. </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">01.10.2009 </font></p></td>
<td valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Amendment to Section 201 – TDS failure </font></p></td>
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<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">23. </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">01.10.2009 </font></p></td>
<td valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Amendment to Section 203A – Quarterly Statement is no more quarterly </font></p></td>
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<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">24. </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">01.10.2009 </font></p></td>
<td valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Amendment to Section 206A & 206C – Quarterly to unspecified period </font></p></td>
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<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">25. </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">01.10.2009 </font></p></td>
<td valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Amendment to Section 246A – Dispute Resolution Panel </font></p></td>
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<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">26. </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">01.10.2009 </font></p></td>
<td valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Amendment to Section 253 – Appeal to ITAT – Dispute Resolution Panel </font></p></td>
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<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">27. </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">01.06.2007 </font></p></td>
<td valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Amendment to Section 271 – Concealment of Income </font></p></td>
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<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">28. </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">01.04.1988 </font></p></td>
<td valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Amendment to Section 271B – Provisional Attachment </font></p></td>
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<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">29. </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">01.10.2009 </font></p></td>
<td valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Substitution of Section 282 – Service of Notice – Courier and Email recognized </font></p></td>
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<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">30. </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">01.10.2010 </font></p></td>
<td valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">New Section 282B – Allotment of Document Identification Number </font></p></td>
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<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">31. </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">01.10.2009 </font></p></td>
<td valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">New Section 293C – Power to Withdraw approval </font></p></td>
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<p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>CUSTOMS</strong></font></p>
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<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Sl. No. </strong></font></p></td>
<td valign="top" width="105"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>With effect from </strong></font></p></td>
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Subject </strong></font></p></td>
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<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1.</font></p></td>
<td valign="top" width="105"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">01.07.2003</font></p></td>
<td valign="top" width="244"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Amendmentto Section 130 – High Court's Power to condone delay </font></p></td>
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<td valign="top" width="75"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">2. </font></p></td>
<td valign="top" width="105"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">01.07.1999 </font></p></td>
<td valign="top" width="244"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Amendment to Section 130A - High Court's Power to condone delay </font></p></td>
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<td valign="top" width="75"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">3. </font></p></td>
<td valign="top" width="105"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Date of enactment of Finance Bill 2009 </font></p></td>
<td valign="top" width="244"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Insertion of Section 26A – Refund of import duty in certain cases </font></p></td>
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<td valign="top" width="75"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">4. </font></p></td>
<td valign="top" width="105"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">A date to be notified </font></p></td>
<td valign="top" width="244"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Amendment to Section 28F – Merger of AAR for Customs, Excise & Service Tax with AAR for Direct taxes </font></p></td>
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<td valign="top" width="75"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">5. </font></p></td>
<td valign="top" width="105"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Date of enactment of Finance Bill 2009 </font></p></td>
<td valign="top" width="244"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Amendment to Sections 137 & 156 – Amendment to provisions related to compounding of offences </font></p></td>
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<td valign="top" width="75"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">6. </font></p></td>
<td valign="top" width="105"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">09.05.2000 </font></p></td>
<td valign="top" width="244"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Investing Officers of DGCEI with powers of Officers of Customs </font></p></td>
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<td valign="top" width="75"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">7. </font></p></td>
<td valign="top" width="105"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">01.05.2006; 19.02.2009 etc for various provisions in the proposed amendments to the notification </font></p></td>
<td valign="top" width="244"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Exemption for imports against DFIA – Retrospective amendments to Notification 40/2006- Cus dated May 1, 2006 </font></p></td>
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<td valign="top" width="75"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">8. </font></p></td>
<td valign="top" width="105"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Date of enactment of Finance Bill 2009 </font></p></td>
<td valign="top" width="244"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Amendment to Section 3 of Customs Tariff Act, 1975 – Assessment of CVD based on tariff value for certain goods </font></p></td>
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<td valign="top" width="75"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">9. </font></p></td>
<td valign="top" width="105"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">14.05.1997 </font></p></td>
<td valign="top" width="244"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Amendment to Section 8B of Customs Tariff Act, 1975 – Applicability of provisions of Customs Act for the purpose of determination of duty rate, assessment, refund, interest etc for Safe guard Duty </font></p></td>
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<td width="75" height="127" valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">10. </font></p></td>
<td valign="top" width="105"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">11.05.2002 </font></p></td>
<td valign="top" width="244"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Amendment to Section 8C of Customs Tariff Act, 1975 – Applicability of provisions of Customs Act for the purpose of determination of duty rate, assessment, refund, interest etc for Specific Safe guard Duty </font></p></td>
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<td valign="top" width="75"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">11. </font></p></td>
<td valign="top" width="105"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">01.01.1995 </font></p></td>
<td valign="top" width="244"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Amendment to Section 9 of Customs Tariff Act, 1975 – Applicability of provisions of Customs Act for the purpose of determination of duty rate, assessment, refund, interest etc for Countervailing Duty on subsidized articles </font></p></td>
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<td valign="top" width="75"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">12. </font></p></td>
<td valign="top" width="105"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">01.01.1995 </font></p></td>
<td valign="top" width="244"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Amendment to Section 9A of Customs Tariff Act, 1975 – Provisions related to Antidumping duty </font></p></td>
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<td valign="top" width="75"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">13. </font></p></td>
<td valign="top" width="105"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Date of enactment of Finance Bill 2009 </font></p></td>
<td valign="top" width="244"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Amendment to Section Note 2 of Section XI of Customs Tariff Act, 1975 – Classification of textile articles containing mixture of two or more materials </font></p></td>
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<p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Central Excise</strong></font></p>
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<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Sl. No. </strong></font></p></td>
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>With effect from </strong></font></p></td>
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Subject </strong></font></p></td>
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<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1. </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">01.07.2003 </font></p></td>
<td valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Amendment to Section 35G – High Court's Power to condone delay </font></p></td>
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<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">2. </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">01.07.1999 </font></p></td>
<td valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Amendment to Section 35H - High Court's Power to condone delay </font></p></td>
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<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">3. </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Date of enactment of Finance Bill 2009 </font></p></td>
<td valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Amendment to Section 9A & 37 of Central Excise Act, 1944– Amendment to provisions related to compounding of offences </font></p></td>
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<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">4. </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Date of enactment of Finance Bill 2009 </font></p></td>
<td valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Amendments to Sections 14A & 14AA – Amendments related to Special Audit provisions </font></p></td>
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<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">5. </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">A date to be notified </font></p></td>
<td valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Amendment to Section 23A - Merger of AAR for Customs, Excise & Service Tax with AAR for Direct taxes </font></p></td>
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<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">6. </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">01.08.1997 & 10.03.1998 </font></p></td>
<td valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Amendment to provisions related to Compounded levy scheme for Steel induction furnaces </font></p></td>
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<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">7. </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Immediate Effect </font></p></td>
<td valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Amendment to Chapter Notes 8 and 21 of Central Excise Tariff Act, 1985 </font></p></td>
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<p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Service Tax </strong></font></p>
<div align="justify">
<table width="450" border="1" align="center" cellpadding="3" cellspacing="0">
<tr>
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Sl. No. </strong></font></p></td>
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>With effect from </strong></font></p></td>
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Subject </strong></font></p></td>
</tr>
<tr>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1. </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Date of enactment of Finance Bill 2009 </font></p></td>
<td valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The Intaxication – beer effect – amendment to Section 65(19) </font></p></td>
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<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">2. </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">16.05.2008 </font></p></td>
<td valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><em>providing </em> instead of <em>Acquiring </em> - amendment to clause zzzze – Information Technology </font></p></td>
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<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">3. </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">A date to be notified </font></p></td>
<td valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><em>New services </em></font></p></td>
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<tr>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">4 </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">01.01.2005 </font></p></td>
<td valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Exemption to services provided to GTAs </font></p></td>
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<tr>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">5. </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Date of enactment of Finance Bill 2009 </font></p></td>
<td valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Amendment to Section 84 of Finance Act, 1994 – Appeals to Commissioner (Appeals) and deletion of Review provisions </font></p></td>
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<tr>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">6. </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Date of enactment of Finance Bill 2009 </font></p></td>
<td valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Amendment to Section 94 – Power to make rules for determination of rate of tax and place of taxable services </font></p></td>
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<tr>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">7. </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Date of enactment of Finance Bill 2009 </font></p></td>
<td valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Amendment to Section 95 – Power to remove difficulties – Removal of difficulties in classification and assessment of taxable services </font></p></td>
</tr>
<tr>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">8. </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">A date to be notified </font></p></td>
<td valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Amendment to Section 96A - Merger of AAR for Customs, Excise & Service Tax with AAR for Direct taxes </font></p></td>
</tr>
</table>
</div>
<p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><font color="#006600">PSU Performance – CAG's Report</font></strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The Comptroller and Auditor General has presented his report to Parliament on the performance of PSUs.</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Government of India had invested Rs. 1 ,47,126 crore directly in the equity capital of 281 government companies and corporations and three deemed government companies. Loans amounting to Rs. 75,799 crore had also been received by the PSUs from the Government of India as on 31 March 2008.</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Return on Investment</strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Out of the 281 government companies and corporations where data has been analysed in this Report, 185 government companies and corporations earned profits during the year and 70 government companies suffered losses excluding Food Corporation of India and Inland Waterways Authority of India where deficits are reimbursed by the Government of India as subsidy/grant. The remaining 24 companies were not in operation. The total profit earned by 185 government companies and corporations was Rs.97,919 crore of which, as much as 76.03 per cent ( Rs.74,446 crore ) was contributed by 48 government companies and corporations under five sectors viz., Petroleum, Power, Coal & Lignite, Steel and Minerals & Metals. Out of the 185 government companies and corporations which earned profit, 117 government companies and corporations declared dividend for the year 2007-08 amounting to Rs.29,308 crore . Out of this, Rs.20 ,761 crore were paid/ payable to the Government of India. The dividend paid to Government of India represented 14.12 <em>per cent </em>return on the total investment by the Government of India (i.e. Rs.1 ,47,033 crore ) in all government companies and corporations.</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Government companies under the Ministry of Petroleum and Natural Gas, operating partially under the administered/ regulated prices, contributed Rs.10 ,015 crore representing 34.17 per cent of the total dividend declared by all government companies.</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The Chairman of the Audit Committee of eight companies did not attend Annual General Meeting of the respective company. Further, no system of preparation of Annual Report on the working of Audit Committee and providing training to the members of Audit Committee was noticed in 14 companies.</font></p>
<p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><font color="#006600">Posting of officers and staff to LTU - Clarification on rotation of Group 'A' officers – CBEC Clarifies</font></strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The Chief Commissioner of Central Excise, Mumbai –I had sought a clarification on posting of IRS officers in LTU.</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Board clarifies</font></p>
<div align="justify">
<blockquote><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1. Officers will, as far as possible, be rotated between the Customs and Central Excise branches every two years and adequate experience in Service Tax branch will also be ensured as far as possible.</font></blockquote>
</div>
<blockquote>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">2. It is not mandatory that an officer will be transferred to Customs formation immediately on completion of tenure in the Central Excise, nor can an officer claim it as a matter of right to transfer him to Customs as soon as he completes two years tenure in the Central Excise. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">3. The administrative requirements have to be kept in mind while considering transfers from one formation to the other. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">4. it is not necessary that each and every officer should be posted both in the Central Excise as well as in the LTU. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">5. Posting in an LTU is an important assignment and, therefore, once an officer is posted there, he must serve there at least two years before being considered for rotation in other field formations, irrespective of his tenure immediately preceding his posting in the LTU. </font></p>
</blockquote>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">If you think these are trivial matters, you are wrong. Posting is the ultimate thing that matters – budgets and revenue collections really don't matter. Every day we are flooded with calls from <em>victims </em> of <em>unfair </em> and unjust <em>postings </em> by autocratic bosses. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=70&filename=pitara/sernews/order/posting_ltu.htm" target="_blank">CBEC F.No.A -22011/06/2009- Ad.II Dated 7th July, 2009 </a></strong></font></p>
<p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><font color="#006600">Subscription fee collected for accessing database located outside India – Not Royalty – computer database falls within the scope of ‘literary work - Business Income taxable in India only if there is a PE; No withholding Tax; no returns – AAR </font></strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The subscription fee is not taxable in India as royalty. It is liable to be taxed only as business income if at all it is found by the Department that an agency PE exists. At present, on the facts stated by the applicant, it is held that PE is not in existence and therefore the income is not liable to be taxed in India. The customers are not required to withhold the tax, until and unless the Department finds the existence of PE after due enquiry. At present, there is no obligation to file the return in view of the finding that there is no royalty income and on the facts stated by the applicant, there is no PE. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">We bring you this AAR order today – Please see <strong><a href="http://www.taxindiaonline.com/RC2/inside2.php3?filename=bnews_detail.php3&newsid=9351" target="_blank">Breaking News</a> </strong></font></p>
<p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><font color="#006600">Jurispruden</font><font color="#FF6633" size="5">tiol</font><font color="#006600">–Monday's cases</font></strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><font color="#FF6633" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><strong><strong><strong><strong><strong><strong><b><img src="http://www.taxindiaonline.com/RC2/image/stories/ddt_hammer.jpg" alt="Legal Corner Icon" width="100" height="84" hspace="5" border="0" align="left"></b></strong></strong></strong></strong></strong></strong></strong></font></strong></font></strong></font></strong></font></strong></font></strong></font></strong></font></strong></font></strong></font></strong></font></strong></font></strong></font></strong></font></strong></font></strong></font></strong></font><font color="#663399">Central Excise/Service Tax</font></strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><font color="#FF6600">CENVAT Credit – Outward Transport – CESTAT does not consider the binding Precedents of High Court order in <em>Ambuja Cements </em> - <em>2009-TIOL-110-HC- P&H -ST </em> and the Tribunal Larger Bench in <em>2009-TIOL-830-CESTAT-BANG-LB </em>both of which are binding; Tribunal has failed to address itself to the applicability and binding effect – High Court </font></strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>THE</strong> tribunal has to maintain a balance between the interest of revenue and rights and interests of an individual and should not refrain itself from exercising the discretionary powers conferred by the Statute, if the facts and circumstances of the case so justify, merely on the pretext that interest of revenue cannot be jeopardized.</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><font color="#663399">Income Tax</font> </strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><font color="#FF6600">penalty - where assessee <em>bonafidely </em> believes a sum as not chargeable to tax and subsequent orders of appellant authority show that such a stand was a justifiable one, it cannot be deemed as a case of concealment or furnishing inaccurate particulars: ITAT</font></strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>NO</strong> doubt, as per law laid down by the Apex Court in <em>Dharmendra Textile Processors </em> case levy of penalty is a culmination of civil proceedings and such penalty is only compensatory in nature, and there is no question of any element of <em>mens rea </em>. But where an assessee <em>bona fide </em> believes a sum as not chargeable to tax and subsequent orders of the appellant authority show that such a stand was a justifiable one, it cannot be deemed as a case of concealment or furnishing inaccurate particulars. Just because an assessee could not offer explanation referring to the concerned case laws in an exact manner, it would not make any significant difference in the state of law as it existed at the time of filing the return.</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><font color="#663399">Customs</font></strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><font color="#FF6600">Imported ‘Socket female' & ‘Cable connector male 4p ' come under the category of ‘other connectors' classifiable under 8536 69 90 – Eligible for exemption under S.No.244 of Notification 21/2002- Cus – CESTAT by majority </font></strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>THE </strong>appellants imported ‘Socket female' and ‘Cable connector male 4p' claimed exempted under S. No. 244 of Notification 21/2002- Cus by classifying them as ‘connectors' under Chapter 8536 69 90. The lower authorities disputed the classification adopted by the importer and denied the exemption benefit. On appeal, the Commissioner (Appeals) allowed the appeals and hence the Revenue is before the CESTAT</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><font color="#663399">See our columns Monday for the judgements</font></strong></font></p>
<p align="justify"><font color="#FF6600" size="2" face="Verdana, Arial, Helvetica, sans-serif">Until Monday with more <strong>DDT</strong></font></p>
<p align="justify"><font color="#FF6600" size="2" face="Verdana, Arial, Helvetica, sans-serif">Have a nice weekend.</font></p>
<p align="justify"><font color="#FF6600" size="2" face="Verdana, Arial, Helvetica, sans-serif">Mail your comments to</font> <font size="2" face="Verdana, Arial, Helvetica, sans-serif"><a href="mailto:vijaywrite@taxindiaonline.com">vijaywrite@taxindiaonline.com</a></font></p>
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