TIOL-DDT 2118 · the untouched capture
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<p><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="#663399" size="2" face="Verdana, Arial, Helvetica, sans-serif"><a href="http://www.taxindiaonline.com/RC2/inside2.php3?filename=bnews_detail.php3&newsid=17063"><img src="http://www.taxindiaonline.com/RC2/image/stories/limca_book2013.jpg" alt="DDT in Limca Book of Records" width="175" height="120" hspace="5" border="0" align="right"></a></font></strong></font></strong></font></strong></font></strong></font></strong></font></strong></font></strong></font></strong></font><font color="#663399" size="2" face="Verdana, Arial, Helvetica, sans-serif"></font></strong></font></strong></font></strong></font></strong></font><font color="#663399" size="3">TIOL-DDT 2118 </font><br>
03.06.2013 <br>
Monday </strong></font></p>
<p align="center"><strong><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif">Income Tax - TDS on interest paid by Banks - Form 15G/15H to be acknowledged </font></strong></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>AS</strong> Per Section 194A of the Income Tax Act, Banks and Financial Institutions are mandatorily required to deduct TDS on payment of interest exceeding Rs. 10,000/- in a year. However depositors can claim an exemption from Tax Deducted at Source, if they are not liable to pay any Income Tax. Individuals whose income tax liability will be ‘NIL' can file a declaration in Form 15G and senior citizens (above the age of 60) can file the declaration in Form 15H. These forms/self declarations are to be filed with the Banks and once a declaration is so filed, the banks need not deduct TDS for the interest payment. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">It is brought to the notice of the RBI that despite submission of Form 15-G/15-H by customers, banks are deducting tax at source, at times, causing inconvenience to customers resulting in a number of complaints. Such instances arise because either the forms are misplaced or a track is not kept of forms received in the branches. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">With a view to protect interest of the depositors and for rendering better customer service, RBI has advised banks to give an acknowledgment at the time of receipt of Form 15-G/15-H. This will help in building a system of accountability and customers will not be put to inconvenience due to any omission on part of the banks. </font></p>
<p align="justify"><a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=347&filename=notification/rbi/2013/rbi013noti015.htm" target="_blank"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">RBI/2012-13/516;
DBOD.No.Leg.BC.100 /09.07.005/2012-13, Dated: May 31, 2013 </font></strong></a></p>
<p align="center"><strong><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif">Income Tax (Fourth Amendment) Rules, 2013</font></strong></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>THE</strong> Central government has framed the IT (Fourth Amendment) Rules, 2013 and in terms of which in the Income-tax Rules, 1962, after rule 6AAC, rule 6AAD titled "<strong>Guidelines for approval of agricultural extension project under section 35CCC</strong>" is inserted. Consequently, in Appendix - II of the said IT Rules, 1962, after Form No. 3CN, a new form 3C-O makes its appearance. </font></p>
<p><a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=35&filename=notification/cbdt/2013/it13not038.htm" target="_blank"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Income Tax Notification 38/2013 dated 30 May, 2013 </font></strong></a></p>
<p align="center"><strong><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif">Tariff Values for Gold increased & Silver decreased </font></strong></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>THE</strong> Central Government has increased the Tariff Value (USD) of gold and reduced that of Silver. The tariff values of various Palm oils, Palmolein have been increased. Tariff value of Crude Soyabean oil and Poppy seeds remain stationary and that of Brass scrap looks south wards. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The marriage season is about to end and the appeal made to the ‘common man' by the Finance Minister to<font color="#FF0000"><em> contain their passion for gold </em></font>seems to have made no dent. </font></p>
<p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The rates as on 21.05.2013 and 31.05.2013 are as under: </font></p>
<p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Table 1 </strong></font></p>
<table width="86%" height="484" border="5" align="center" cellpadding="3" cellspacing="0" bordercolor="#FF0000">
<tr>
<td height="474"><table width="94%" height="438" border="1" align="center" cellpadding="3" cellspacing="0" bordercolor="#FF0000">
<tr>
<td width="28" valign="top"><p align="center"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">S. No. </font></strong></p></td>
<td width="107" valign="top"><p align="center"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Chapter/ heading/ sub-heading/tariff item </font></strong></p></td>
<td width="108" valign="top"><p align="center"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Description of goods </font></strong></p></td>
<td width="77" valign="top"><p align="center"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Tariff value USD(Per Metric Tonne) <br>
from 21.5.2013 </font></strong></p></td>
<td width="102" valign="top"><p align="center"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Tariff value USD(Per Metric Tonne) <br>
from 31.5.2013 <br>
</font></strong></p></td>
</tr>
<tr bgcolor="#F2E1D0">
<td valign="top"><p align="center"><font color="#0000FF"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">(1) </font></strong></font></p></td>
<td valign="top" bgcolor="#F2E1D0"><p align="center"><font color="#0000FF"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">(2) </font></strong></font></p></td>
<td valign="top"><p align="center"><font color="#0000FF"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">(3) </font></strong></font></p></td>
<td valign="top"><p align="center"><font color="#0000FF"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">(4) </font></strong></font></p></td>
<td valign="top"><p align="center"><font color="#0000FF"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">(5) </font></strong></font></p></td>
</tr>
<tr>
<td valign="top"><p><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1</font></strong></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1511 10 00 </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Crude Palm Oil </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">831 </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">843 </font></p></td>
</tr>
<tr bgcolor="#F2E1D0">
<td valign="top"><p><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">2 </font></strong></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1511 90 10 </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">RBD Palm Oil </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">836 </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">854 </font></p></td>
</tr>
<tr>
<td valign="top"><p><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">3 </font></strong></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1511 90 90 </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Others - Palm Oil </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">834 </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">849 </font></p></td>
</tr>
<tr bgcolor="#F2E1D0">
<td valign="top"><p><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">4 </font></strong></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1511 10 00 </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Crude Palmolein </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">840 </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">860 </font></p></td>
</tr>
<tr>
<td valign="top"><p><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">5 </font></strong></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1511 90 20 </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">RBD Palmolein </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">843 </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">863 </font></p></td>
</tr>
<tr bgcolor="#F2E1D0">
<td valign="top"><p><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">6</font></strong></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1511 90 90 </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Others - Palmolein </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">842 </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">862 </font></p></td>
</tr>
<tr>
<td valign="top"><p><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">7 </font></strong></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1507 10 00 </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Crude Soyabean Oil </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1075 </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1075 (No change) </font></p></td>
</tr>
<tr bgcolor="#F2E1D0">
<td valign="top"><p><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">8 </font></strong></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">7404 00 22 </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Brass Scrap (all grades) </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">3910 </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">3859 </font></p></td>
</tr>
<tr>
<td valign="top"><p><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">9 </font></strong></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1207 91 00 </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Poppy seeds </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">4395</font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">4395 (No change) </font></p></td>
</tr>
</table></td>
</tr>
</table>
<p align="center"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Table 2</font></strong></p>
<table width="90%" border="4" align="center" cellpadding="3" cellspacing="0">
<tr>
<td><table width="97%" height="432" border="1" align="center" cellpadding="3" cellspacing="0">
<tr bgcolor="#FFFF00">
<td valign="top"><p align="center"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">S. No. </font></strong></p></td>
<td valign="top"><p align="center"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Chapter/ heading/ sub-heading/tariff item </font></strong></p></td>
<td valign="top"><p align="center"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Description of goods</font></strong></p></td>
<td valign="top"><p align="center"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Tariff value <br>
(USD) from 21.5.2013 </font></strong></p></td>
<td valign="top"><p align="center"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Tariff value <br>
(USD) from 31.5.2013 </font></strong></p></td>
</tr>
<tr bgcolor="#FFFF00">
<td valign="top"><p align="center"><font color="#0000FF"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">(1) </font></strong></font></p></td>
<td valign="top"><p align="center"><font color="#0000FF"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">(2) </font></strong></font></p></td>
<td valign="top"><p align="center"><font color="#0000FF"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">(3) </font></strong></font></p></td>
<td valign="top"><p align="center"><font color="#0000FF"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">(4) </font></strong></font></p></td>
<td valign="top"><p align="center"><font color="#0000FF"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">(5) </font></strong></font></p></td>
</tr>
<tr bgcolor="#FFFF00">
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1 </font></p></td>
<td valign="top"><p align="center"><font color="#FF0000" size="2" face="Verdana, Arial, Helvetica, sans-serif">71 or 98</font></p></td>
<td valign="top"><p><font color="#FF0000" size="2" face="Verdana, Arial, Helvetica, sans-serif">Gold, in any form in respect of which the benefit of entries at serial number 321 and 323 of the Notification No. 12/2012-Customs dated 17.03.2012 is availed </font></p></td>
<td valign="top"><p align="center"><font color="#FF0000" size="2" face="Verdana, Arial, Helvetica, sans-serif">440 per 10 grams </font></p></td>
<td valign="top"><p align="center"><font color="#FF0000" size="2" face="Verdana, Arial, Helvetica, sans-serif">459 per 10 grams </font></p></td>
</tr>
<tr bgcolor="#FFFF00">
<td height="158" valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">2 </font></p></td>
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">71 or 98 </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Silver, in any form in respect of which the benefit of entries at serial number 322 and 324 of the Notification No. 12/2012-Customs dated 17.03.2012 is availed </font></p></td>
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">761 per kilogram </font></p></td>
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">737 per kilogram </font></p></td>
</tr>
</table></td>
</tr>
</table>
<p align="left"><a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=24&filename=notification/custom/2013/cnt13_057.htm" target="_blank"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Notification No. 57/2013-Cus (NT), Dated: May 31, 2013</font></strong></a></p>
<p align="center"><strong><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif">UN Sanctions - Import/export of luxury goods from/to Korea Prohibited </font></strong></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>THE</strong> United Nations Security Council had recently passed a Resolution 2094 (2013) strengthening and expanding the scope of United Nations sanctions against the Democratic People's Republic of Korea by targeting the illicit activities of diplomatic personnel, transfers of bulk cash, and the country's banking relationships, in response to that country's third nuclear test. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Under the Resolution, Member States are required to inter alia ; </font></p>
<blockquote>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">• enhance their vigilance over the diplomatic personnel of the Democratic People's Republic of Korea, in a provision aimed at halting any activities that could contribute to the country's weapons programme, or which would violate any prohibited activities. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">• prevent the provision of financial services or the transfer of any financial or other assets or resources, including "bulk cash", which might be used to evade the sanctions. They are also called on to prohibit in their territories the opening of new branches or offices of "DPRK" banks and to prohibit such banks from establishing new joint ventures. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">• prevent the direct or indirect supply, sale or transfer to or from the Democratic People's Republic or Korea or its nationals of any banned items. </font></p>
</blockquote>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Following this resolution, India has prohibited direct or indirect export and import of Luxury goods, including but not limited to the items specified in Annex IV to UN Security Council resolution 2094 (2013). </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The UN Security Council's resolution has the following goods (including but not limited to) as luxury goods: </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1. Jewelry: </font></p>
<blockquote>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">(a) Jewelry with pearls; </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">(b) Gems; </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">(c) Precious and semi-precious stones (including diamonds, sapphires, rubies, and emeralds); </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">(d) Jewelry of precious metal or of metal clad with precious metal. </font></p>
</blockquote>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">2. Transportation items, as follows: </font></p>
<blockquote>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">(a) Yachts; </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">(b) Luxury automobiles (and motor vehicles): automobiles and other motor vehicles to transport people (other than public transport), including station wagons; </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">(c) Racing cars.</font></p>
</blockquote>
<p align="justify"><a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=45&filename=notification/dgft/2013/dgft13not014.htm" target="_blank"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">DGFT Notification No.14/(RE-2013)/2009-2014, Dated : May 31, 2013 </font></strong></a></p>
<p align="center"><strong><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif">Several Posts of Under-Secretary/ Technical Officer vacant in CBEC </font></strong></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>ELEVEN</strong> posts of Under-secretary, ten posts of Senior Technical Officer, fourteen posts of Technical Officer and two posts of Senior Analyst are lying vacant in the CBEC under the Revenue Headquarters and some of these posts are vacant for the last five years! They have four vacancies in the all-important TRU. Now, the Board is asking Chief Commissioners and Commissioners to nominate eligible officers for these posts. With so many posts vacant, how were they managing the show all these days? Obviously officers are now not interested in working in the Board which used to be a post of honour once upon a time. There should be some special incentive for working in the Board! </font></p>
<p align="justify"><a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=70&filename=pitara/deputation/under_secretaries.htm" target="_blank"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">CBEC F. No. A.35017/26/2013-Ad.II Dated: May 09, 2013 </font></strong></a></p>
<p align="center"><strong><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif"><em>Prima facie</em> putting electrolytes and charging battery of two-wheeler does not amount to manufacture of TWO-WHEELERS </font></strong></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>WHEN </strong>we reported the case <strong><a href="http://www.taxindiaonline.com/RC2/caseLawDet.php?QoPmnXyZ=ODgyNjY=" target="_blank"><font size="1">2013-TIOL-762-CESTAT-MUM</font></a> </strong>in <strong><a href="http://www.taxindiaonline.com/RC2/NewsDesc.php?MpoQSrPnM=MTc4MDM=" target="_blank">DDT 2109</a></strong>, we received many calls asking what the case was all about. We had a hard time explaining that the case was what was mentioned in the caption and nothing more. Then we had a call asking whether we had a copy of the Order-in-original or for that matter the SCN. We expressed inability on both counts but curiosity lead us to asking the caller as to what purpose would the SCN/O-in-O serve. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The sonorous voice on the other end answered - <font color="#FF0000"><em>I am in the Headquarters (Preventive) and would like to book a similar case against such "dealers" in my jurisdiction! </em></font></font></p>
<p align="justify"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Let aside that we wouldn't have shared even if we had it! </font></strong></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Be that as it may, one more similar case came to our notice and this too owes its origin to the fluidic pen of the <em>CCE, Nagpur</em>. It seems he started the New Year 2013 by confirming a demand alleging the same deemed ‘manufacture' concept and he started with a BANG - the demand confirmed is of Rs.2.15 Crores, interest and penalty. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">And when the application filed by the dealer was heard, the same Division Bench had no hesitation in allowing the Stay petition by taking the prima facie view that ‘<em>charging the battery by putting electrolyte cannot be considered as manufacture of motorcycle'.</em> </font></p>
<p align="justify"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">We hope that the Board reads this, at least!</font></strong></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>See</strong> </font><font size="1" face="Verdana, Arial, Helvetica, sans-serif"><strong><a href="http://www.taxindiaonline.com/RC2/caseLawDet.php?QoPmnXyZ=ODg0MjY=" target="_blank">2013-TIOL-818-CESTAT-MUM </a></strong></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"> - Tuesday's cases</font></strong></font></strong></font></p>
<p><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">Service Tax </font></strong></p>
<p align="justify"><strong><font color="#FF6633" size="2" face="Verdana, Arial, Helvetica, sans-serif">Commercial Training or Coaching Service - CBEC Circular dated 20.06.2003 restricting exemption under Notification No 12/2003 ST only to standard text books is illegal and unauthorized: CESTAT</font></strong></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>THE</strong> clarification in the Board Circular dated 20.06.2003 is misconceived, clearly illegal and contrary to the statutory exemption Notification dated 20.06.2003. Where the legislature has spoken or in exercise of its statutory power exemption is granted by the Central Government under Section 93 of the Act, the CBEC has no manner of power, authority or jurisdiction to deflect the course of an enactment or the exemption granted. Grant of exemption from the liability to tax is a power exclusively authorised to the Central Government under Section 93 of the Act. This statutory provision accommodates no participatory role to the Board. In seeking to engraft restrictions on the generality and plenitude of the exemption granted by the Central Government, the CBEC transgressed into the domain of the Central Government under Section 93 of the Act, a course of action clearly prohibited. </font></p>
<p align="justify"><strong><font color="#663399" size="2" face="Verdana, Arial, Helvetica, sans-serif">Income Tax </font></strong></p>
<p align="justify"><strong><font color="#FF6633" size="2" face="Verdana, Arial, Helvetica, sans-serif">Whether merely because AO order does not contain reasons as to why he accepted assessee's claim, his order becomes susceptible for revision u/s 263 - NO: AP HC </font></strong></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>THE</strong> assessee is a private limited company and registered as NBFC with the RBI. Initially, it was a franchisee of M/s Coca-Cola Company and was engaged in the Bottling business. In December, 1997, the business of the assessee was taken over by the said Company as a going concern and the assessee received Rs.56.23 Crores as consideration/compensation. This amount received by the assessee was invested by it in stages in shares of Companies quoted on the Stock Exchange and in units of Mutual Funds. The assessee also owns a Kalyanamandapam at Vijayawada from which it gets rental income by letting it out for various functions. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">THE issues before the Bench are - Whether merely because the order of the AO does not contain reasons as to why he accepted the assessee's claim, his order becomes susceptible for revision u/s 263; Whether it is open to the Commissioner to reopen the assessment on the ground that a different view is possible; Whether merely because of large frequency and volume of transactions, a conclusion that an assessee is a trader cannot be drawn without considering the period of holding of those shares by the assessee; Whether merely because of large frequency and volume of transactions, a conclusion that an assessee is a trader can be drawn without considering the period of holding of those shares by the assessee and Whether the fact that the assessee has an administrative set up and incurs considerable administrative expenditure can be a factor to hold that the assessee is a trader. And the verdict goes against the Revenue. </font></p>
<p align="justify"><strong><font color="#663399" size="2" face="Verdana, Arial, Helvetica, sans-serif">Customs </font></strong></p>
<p align="justify"><strong><font color="#FF6633" size="2" face="Verdana, Arial, Helvetica, sans-serif">Customs Valuation - Strictures against the Deputy Commissioner, GATT Valuation Cell, Mumbai - HC remands matter with a direction to Commissioner to assign the job to some other officer for adjudication.</font></strong></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>DEPUTY</strong> Commissioner of Customs has a closed mind and treats a compliance with the principles of natural justice as a mere formality. Hence, while we are inclined to set aside the impugned order and remit the matter back for fresh decision after complying with the requirements of Rule 12, we direct the Commissioner of Customs to assign the case to some other officer, other than the officer by whom the impugned order is passed. We record our disapproval of the manner in which the affidavit in reply has been drafted. </font></p>
<p align="justify"><strong><font color="#663399" size="2" face="Verdana, Arial, Helvetica, sans-serif">See our Columns Tomorrow for the judgements </font></strong></p>
<p align="justify"><font color="#FF6666" size="2" face="Verdana, Arial, Helvetica, sans-serif">Until Tomorrow with more <strong>DDT</strong></font></p>
<p align="justify"><font color="#FF6666" size="2" face="Verdana, Arial, Helvetica, sans-serif">Have a Nice Day. </font></p>
<p><font color="#FF6666" 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"><strong>vijaywrite@taxindiaonline.com </strong></a></font></p>
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