TIOL-DDT 1848 · the untouched capture
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<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><font color="#663399" size="2" face="Verdana, Arial, Helvetica, sans-serif"><a href="http://www.taxindiaonline.com/RC2/inside2.php3?filename=bnews_detail.php3&newsid=14276"><img src="http://www.taxindiaonline.com/RC2/image/ddt/ddt_1794.jpg" alt="DDT in Limca Book of Records" width="175" height="120" hspace="5" border="0" align="right"></a></font></strong></font><font color="#663399" size="3">TIOL-DDT 1848 </font><br>
</strong></font><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>02.05.2012 <br>
</strong></font><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Wednesday </strong></font></p>
<p align="center"><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Customs - SAD - Exemption </strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>AS</strong> per the Proviso in the Notification No. 21/2012-Cus dated 17.03.2012, importers of specified goods imported on after <strong>1st May 2012 </strong> are required to declare: </font></p>
<blockquote>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1. the State of Destination where the goods are intended to be sold for the first time after the import and </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">2. the VAT registration number in that State. </font></p>
</blockquote>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Now this is required only for imports made on or after 1st June 2012. </font></p>
<p align="justify"><a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=23&filename=notification/custom/2012/ctariff12_029.htm" target="_blank"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Notification No. 29/2012-Customs, Dated: April 30, 2012 </strong></font></a></p>
<p align="center"><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>FTP - Clarification regarding withdrawal ofprovision of revalidation of RCs by RAs for export of cotton and cotton yarn</strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>DGFT</strong> clarifies that the revalidation provision of Policy Circular No. 51(RE-2010)/2009-14 dated 28.12.2011 stands withdrawn as stated in Para 3 of Public NoticeNo. 102 dated 16.03.2012.<strong> Accordingly, no revalidation will be granted to RCs for cotton and cotton yarn. </strong></font></p>
<p align="justify"><a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=46&filename=notification/dgft/2010/dgft10cir061.htm" target="_blank"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>DGFT Policy Circular No. 61(RE-2010)/2009-14, Dated: May 01, 2012 </strong></font></a></p>
<p align="center"><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>FTP - Export - Casein now Restricted, not Prohibited </strong></font></p>
<p align="justify"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">GOVERNMENT</font></strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif"> has amended Sl. No. 174 in chapter 35 of Schedule 2 of ITC(HS) Classification of Export & Import items. </font></p>
<p align="justify"> </p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Export of Casein and Casein products has been moved from "Prohibited" to "Restricted" category. Export of casein is now permitted under licence. </font></p>
<p align="justify"><a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=45&filename=notification/dgft/2010/dgft10not112.htm" target="_blank"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>DGFT Notification No. 112 (RE-2010)/2009-14, Dated: May 01, 2012 </strong></font></a></p>
<p align="center"><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>FTP - SION - E-1A renumbered as E-131 </strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>THE</strong> DGFT has renumbered SION E-1A asE-131 for the export product, "Assorted Confectionery (Sugar Free)" in the Handbook of Procedure V.2 (2009-14) There is no change in the Import Items (either in description or in quantity permitted). </font></p>
<p align="justify"><a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=47&filename=notification/dgft/2010/dgft10pn107.htm" target="_blank"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>DGFT Public Notice No. 107/(RE-2010)/2009-14, Dated: April 30, 2012 </strong></font></a></p>
<p align="center"><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>FTP - SION - E-129A renumbered as E-130 </strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>THE</strong> DGFT has renumbered SION E-129A as E-130 for the export product, "Instant Fruit Juice Powder/Crystals (Sugar Free)"in the Handbook of Procedure V.2 (2009-14). There is no change in the Import Items (either in description or in quantity permitted). </font></p>
<p align="justify"><a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=47&filename=notification/dgft/2010/dgft10pn106.htm" target="_blank"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>DGFT Public Notice No. 106/(RE-2010)/2009-14, Dated: April 30, 2012 </strong></font></a></p>
<p align="center"><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Indian Income Tax - Figures Speak </strong></font></p>
<table width="90%" border="1" align="center" cellpadding="5" cellspacing="0">
<tr bordercolor="#999999">
<td colspan="7" valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"> <strong>(Rs In crore) </strong></font></p></td>
</tr>
<tr bordercolor="#999999" bgcolor="#999999">
<td width="42" valign="top"><p align="center"> </p></td>
<td width="120" valign="top"><p align="center"> </p></td>
<td width="80" valign="top"><p align="center"><strong><font color="#663399" size="2" face="Verdana, Arial, Helvetica, sans-serif">2006-07 </font></strong></p></td>
<td width="80" valign="top"><p align="center"><strong><font color="#663399" size="2" face="Verdana, Arial, Helvetica, sans-serif">2007-08 </font></strong></p></td>
<td width="80" valign="top"><p align="center"><strong><font color="#663399" size="2" face="Verdana, Arial, Helvetica, sans-serif">2008-09 </font></strong></p></td>
<td width="77" valign="top"><p align="center"><strong><font color="#663399" size="2" face="Verdana, Arial, Helvetica, sans-serif">2009-10 </font></strong></p></td>
<td width="89" valign="top"><p align="center"><strong><font color="#663399" size="2" face="Verdana, Arial, Helvetica, sans-serif">2010-11 </font></strong></p></td>
</tr>
<tr bordercolor="#999999">
<td width="0" valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1. </font></p></td>
<td width="0" valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Gross Collection </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">2,67,416 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">3,53,498 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">3,72,915 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">4,35,164 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">5,22,103 </font></p></td>
</tr>
<tr bordercolor="#999999" bgcolor="#999999">
<td width="0" valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">2. </font></p></td>
<td width="0" valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Refunds </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">37,235 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">41,285 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">39,097 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">57,101 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">75,169 </font></p></td>
</tr>
<tr bordercolor="#999999">
<td width="0" valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">3. </font></p></td>
<td width="0" valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Net Collection </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">2,30,181 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">3,12,213 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">3,33,818 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">3,78,063 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">4,46,934 </font></p></td>
</tr>
<tr bordercolor="#999999" bgcolor="#999999">
<td width="0" valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">4. </font></p></td>
<td width="0" valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Tax-GDP Ratio </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">5.6 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">6.6 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">6.3 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">6.1 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">5.7 </font></p></td>
</tr>
<tr bordercolor="#999999">
<td width="0" valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">5. </font></p></td>
<td width="0" valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Buoyancy </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">2.5 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">2.6 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">0.5 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">0.8 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">0.7 </font></p></td>
</tr>
<tr bordercolor="#999999" bgcolor="#999999">
<td width="0" valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">6. </font></p></td>
<td width="0" valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">No. of effective assessees (in lakh) </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">312.9 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">336.6 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">326.5 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">340.9 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">335.8 </font></p></td>
</tr>
<tr bordercolor="#999999">
<td width="0" valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">7. </font></p></td>
<td width="0" valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Pre-assessment collection </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">2,05,741 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">2,83,986 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">3,02,341 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">3,51,660 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">4,18,094 </font></p></td>
</tr>
<tr bordercolor="#999999" bgcolor="#999999">
<td width="0" valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">8. </font></p></td>
<td width="0" valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Post-assessment collection </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">50,891 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">52,865 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">56,188 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">73,053 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">95,804 </font></p></td>
</tr>
<tr bordercolor="#999999">
<td width="0" valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">9. </font></p></td>
<td width="0" valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">No. of scrutiny assessments due for disposal </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">5,27,005 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">9,97,813 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">9,53,767 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">8,70,620 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">8,47,196 </font></p></td>
</tr>
<tr bordercolor="#999999" bgcolor="#999999">
<td width="0" valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">10. </font></p></td>
<td width="0" valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">No. of scrutiny assessments completed </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">2,41,983 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">4,07,239 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">5,38,505 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">4,29,585 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">4,55,212 </font></p></td>
</tr>
<tr bordercolor="#999999">
<td width="0" valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">11. </font></p></td>
<td width="0" valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">No. of officers deployed for assessment duty </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">3,954 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">3,218 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">3,106 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">3,605 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">3,687 </font></p></td>
</tr>
<tr bordercolor="#999999" bgcolor="#999999">
<td width="0" valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">12. </font></p></td>
<td width="0" valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Direct refund claims pending (in lakh) </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">4.4 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">8.3 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">15.5 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">19.4 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">19.5 </font></p></td>
</tr>
<tr bordercolor="#999999">
<td width="0" valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">13. </font></p></td>
<td width="0" valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Interest on refunds </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">3,693 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">4,444 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">5,778 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">6,876 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">10,499 </font></p></td>
</tr>
<tr bordercolor="#999999" bgcolor="#999999">
<td width="0" valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">14. </font></p></td>
<td width="0" valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Demand pending </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1,17,370 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1,24,274 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">2,01,276 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">2,29,032 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">2,91,629 </font></p></td>
</tr>
<tr bordercolor="#999999">
<td width="0" valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">15. </font></p></td>
<td width="0" valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">No. of appeals pending with CIT(A) </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1,07,841 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1,30,358 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1,58,031 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1,80,991 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1,87,182 </font></p></td>
</tr>
<tr bordercolor="#999999" bgcolor="#999999">
<td width="0" valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">16. </font></p></td>
<td width="0" valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Certified demand recovered </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">8,521.4 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">8,612.6 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">4,035.8 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">3,322.3 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">4,074.6 </font></p></td>
</tr>
<tr bordercolor="#999999">
<td width="0" valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">17. </font></p></td>
<td width="0" valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Certified demand pending </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">26,703.9 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">27,444.9 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">27,461.0 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">95,122.4 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">106,990.8 </font></p></td>
</tr>
<tr bordercolor="#999999" bgcolor="#999999">
<td width="0" valign="top" bgcolor="#999999"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">18. </font></p></td>
<td width="0" valign="top"><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Cost of collection </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1,343 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1,713 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">2,286 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">2,774 </font></p></td>
<td width="0" valign="top"><p align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">2,698 </font></p></td>
</tr>
</table>
<p align="justify"><font color="#FF0000" size="2" face="Verdana, Arial, Helvetica, sans-serif"><em>Source: CAG's Audit Report </em></font></p>
<p align="center"><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Vodafone CEO Meets Pranab </strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>VODAFONE</strong> CEO Vittorio Colao met Finance Minister Parnab Da, maybe to find a settlement for the Vodafone tax issue. 12000 and odd Crores is a lot of money even for Vodafone - even in Indian rupees. While so much noise is made about the fairness of retrospective legislation, what really matters is money. But since there is apprehension all over the world, can't we just drop this idea of retrospective legislation to collect some money from people who have come to invest in India? </font></p>
<p align="center"><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Pakistan Dues - Can we collect? </strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>FOR</strong> the last 62 years, every Indian Budget has a heading "Amount Due from Pakistan on account of share of Pre-partition debt - Rs. 300 Crores. In 1948, Pakistan owed us an amount of Rs. 300 Crores. With a small interest of 6%, this would amount to around to Rs. 12000 Crores, of which we are not able to collect even the original amount of Rs. 300 Crores. </font></p>
<p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><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"> - Thursday's cases</font></strong></font></strong></font></p>
<p align="justify"><font color="#663399" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><font color="#663399" size="2" face="Verdana, Arial, Helvetica, sans-serif"><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"></font>Central Excise </strong></font></p>
<p align="justify"><font color="#FF6633" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Lacquered Metalised Polyester film is cleared to job worker for conversion to Zari which is finally cleared from factory under exemption - appellant paying 8% price of exempted product/reversing credit contained in inputs - no cause for payment of duty on Lacquered metalized Polyester film when cleared for job work - facts in knowledge of department - Demand time barred - Appeal allowed: CESTAT </strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>THE </strong>appellant are engaged in the manufacture of Lacquered Metalised Polyester Film as well as Imitation Zari. The appellants were clearing Lacquered Metalised Polyester film on payment of appropriate duty. The appellants were also clearing Lacquered Metalised Polyester film to the job worker under Rule 57F(4) challans for further processing in the manufacture of Imitation Zari. Imitation Zari was received by the appellant and after packing the same were cleared at nil rate of duty as Imitation Zari is exempted. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The case of the revenue is that clearance of Lacquered Metalised Polyester film to job worker should have been on payment of duty as the same are finished goods. </font></p>
<p align="justify"><font color="#663399" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Customs </strong></font></p>
<p align="justify"><font color="#FF6633" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Set Top boxes imported and supplied to the consumers on right to use basis - Sales tax was paid by treating such right to use as sale - Refund of SAD cannot be denied on the ground that there was no sale: CESTAT</strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>THE</strong> issue involved is whether the importer is entitled for refund of additional duty (SAD) paid at the time of import of the goods in terms of Notification No 102/07Cusdated 14.09.2007. The said Notification provides exemption from additional duty of customs levied under Section 3(5) of the Customs Tariff Act, 1975 when the imported goods are sold subsequently. In the instant case, the importer supplied the set top boxes to the consumers on right to use basis and there is no absolute sale of the goods. </font></p>
<p align="justify"><font color="#663399" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Income Tax </strong></font></p>
<p align="justify"><font color="#FF6633" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Whether when there is neither concealment nor furnishing of inaccurate particulars, even then mere erroneous claim would attract penal provisions u/s 271(1)(c) - NO: ITAT </strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>THE </strong>assessee is a Multi Specialty Hospital and Nursing Institute which had claimed depreciation @ 4O% on the block of assets of life saving equipment which included on addition of Rs.55 lakhs. The AO noted that as per the depreciation table relevant to the assessment year 2005-06 provided in the appendix of Income Tax Rules 1962, among the list of life savings medical equipment eligible for depreciation @ 40%, the name of CT Scan Machine is not mentioned. Hence, the AO held that CT Scanner machine purchased during the year is not eligible for depreciation @ 40% under the block of life saving medical equipment. The assessee did not offer any explanation in this regard and submitted that depreciation @ 40% was claimed under the bonafide belief that it is covered under 'lifesaving medical equipment' just like Magnetic Resonance Imagine System ("MRI") on which it has been claiming depreciation @ 40% since A.Y. 2003-04. The A.O., however, noted that the assessee reduced the amount of Rs.5 lakh on account of sale of old CT scan machine from the WDV of the block of assets under the head 'plant & machinery' eligible for depreciation @ 40% and not from the WDV of block of assets under the head 'life saving medical equipment' eligible for depreciation @ 40%. </font></p>
<p align="justify"><font color="#663399" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>See our columns Tomorrow for the judgements </strong></font></p>
<p align="justify"><font color="#FF6666" size="2" face="Verdana, Arial, Helvetica, sans-serif">Until Tomorrow with more DDT </font></p>
<p align="justify"><font color="#FF6666" size="2" face="Verdana, Arial, Helvetica, sans-serif">Have a Nice Day </font></p>
<p align="justify"><font color="#FF6666" size="2" face="Verdana, Arial, Helvetica, sans-serif">Mail your comments to</font><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif"> <a href="mailto:vijaywrite@taxindiaonline.com">vijaywrite@taxindiaonline.com </a></font></strong></p>
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