TIOL-DDT 462 · the untouched capture
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<p> <b><font color="#663399" size="3" face="Verdana, Arial, Helvetica, sans-serif">TIOL-DDT
462</font><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><br>
04 10 2006<br>
Thursday</font></b></p>
<p align=center><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><font color="#006600">Tariff
value for brass scrap enhanced</font></strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Tariff
value for brass scrap has been increased from </strong>4629 to 4826 US Dollars.
There is no change in the Tariff Values of other items. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><u><a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=24&filename=notification/custom/2006/cnt06_108.htm">NOTIFICATION
No.108/2006-CUSTOMS (N.T.), Dated: October 1, 2006</a></u></font></p>
<p align=center><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><font color="#006600">Anti
dumping </font></strong><font color="#006600"><b>ParaHydroxy Phenyl Glycine
Base</b></font></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">After
a mid term review the government has decided to continue the anti dumping duty
imposed on D (-) Para Hydroxy Phenyl Glycine Base (PHPG Base), by Notification
No. 122/2002,originating in, or exported from, Singapore</st1:country-region>.
Consequently the entries relating to Singapore</st1:country-region> are deleted
from the notification. This will continue till 14th February, 2007.</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Similarly
the anti dumping duty on of D(-) Para Hydroxy Phenyl Glycine Methyl Potassium
Dane Salt (PHPG Dane Salt), imposed by Notification No. 117/2003 is re imposed
valid up to 10<sup>th</sup> November 2007. Consequential amendments are made
in this notification too</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><u><a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=23&filename=notification/custom/2006/ctariff06_100.htm">NOTIFICATION
NO.</a></u><a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=23&filename=notification/custom/2006/ctariff06_100.htm"><u>
100</u></a><u>, <a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=23&filename=notification/custom/2006/ctariff06_101.htm">101</a>,
<a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=23&filename=notification/custom/2006/ctariff06_102.htm">102<strong>
</strong></a><strong>and</strong> <a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=23&filename=notification/custom/2006/ctariff06_103.htm">103/2006-CUS,
Dated: September 29, 2006</a></u></font></p>
<p align=center><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><font color="#006600">ICAI</font></strong><font color="#006600"><strong>
guidance note on audit of fringe benefit tax</strong></font></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The
Institute of Chartered Accountants of India (ICAI) on Tuesday issued a guidance
note on audit of the fringe benefit tax (FBT). The note is aimed at ensuring
compliance of tax assessees with the FBT provisions and simplifying the complexities
in these provisions. Releasing the guidance note, revenue secretary KM Chandrasekhar
said the government was taking initiatives in simplifying tax laws. He was happy
with ICAI for training of service-tax officers in understanding financial statements.
He said FBT collection this fiscal was expected to show a substantial increase.
</font></p>
<p align=center> <font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><font color="#006600">Income
Tax nets 81000 Crores</font></strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Revenue
Secretary Chandrasekhar said that Income tax collections comprising both personal
and corporate income tax stood at Rs 81,000 crore till September, accounting
for 39 per cent of the budget estimate for the entire fiscal. While total revenue
collections are growing by 30 per cent, excise duty mop up is rising marginally.
On the indirect tax side, service tax and customs duty collections are growing
at a good pace. Service tax collections are growing by 30-40 per cent.</font></p>
<p align=center><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><font color="#006600">Why
Maxwell when we have our own Mimansa? </font></strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Justice
Markandey Katju of the Supreme Court is an authority on ancient Indian legal
theories. His scholarship in Sanskrit is so well acknowledged that he was invited
to deliver the convocation address of a Sanskrit University. In a landmark judgement
on customs valuation, which we are carrying today, Justice Katju laments that
“It is deeply regrettable that in our Courts of Law, lawyers quote Maxwell and
Craies but nobody refers to the <i>Mimansa</i> Principles of Interpretation.”
What is Mimansa? See our <a href="http://www.taxindiaonline.com/RC2/inside2.php3?filename=bnews_detail.php3&newsid=4341">Special
Column</a> today. Justice Katju had elsewhere explained the theory as :-</font></p>
<blockquote>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">++
The Mimansa system is ritualistic. Its entire emphasis is on performance
of the Yagya for spiritual or worldly benefit. The central belief in the
Mimansa system was that on the performance of a particular Yagya in accordance
with the rules prescribed in the Brahmanas a potency or power called 'apurva'
would be created resulting in the fulfilment of the object of the Yagya,
either immediately or after an interval of time. Some Yagyas known as
nityayagyas such as darshapurnamasi, agnihotra, etc., and had to be performed
as a religious duty regularly throughout one's life for spiritual benefits.
The <i>darshapurnamasiyagya</i> had to be performed on every moonless
and full moon day, while <i>agnihotra</i> had to be performed daily. Certain
other yagyas known as kamyayagyas were conducted for some worldly benefits
and were optional</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">++ The
<i>Mimansa</i> principles are highly rational and equitable. The <i>Mimansaks</i> were not
too much obsessed with technicalities, and they aimed at finding the intention
of the legal text and sought to breathe reason and equity into it to the extent
possible. This is precisely what the modern method of interpretation strives
to achieve.</font></p>
</blockquote>
<p><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>Application
of Mimansa</b></font></p>
<blockquote>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">++
The facts in the case were that the petitioner had been elected Chairman of
a Town Area in U.P. He was removed by the Collector after giving him a hearing,
and the Collector's order was confirmed by the State Government. But the State
Government had not given an opportunity of hearing to the petitioner. The
question before the court was whether the State Government, too, had to give
an opportunity of hearing before it confirmed the order of the Collector.
After a great deal of consideration Justice Katju answered it in the affirmative,
utilising the anusunga principle of Mimansa. This interpretation was resorted
to by invoking the anusunga principle of Mimansa according to which an expression
occurring in one clause is often meant also for a neighbouring clause. It
is generally said that for economy of words that it is mentioned only in the
former.</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">++
Under the Terrorist and Disruptive Activities (Prevention) Act, 1987 only
the Designated Courts are empowered to grant bail. And Section. 9 provides
that Designated Judge means the judge nominated by the Govt. after consulting
the Chief Justice. Though the U.P. Government nominated District Judges to
be Designated Judges there had been no District Judges and hence no Designated
Judges in several Districts as selection had not been made. Several persons
had therefore been languishing in jail for more than a year without even an
opportunity to apply for bail. Mimansa Rule of Substitution for Jateshtinyaya
was commended to solve this problem. By invoking this rule the High Court
could rule that the seniormost Additional District Judge could grant bail
in the absence of the District Judge</font></p>
</blockquote>
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<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> <font size="2" face="Verdana, Arial, Helvetica, sans-serif"><a href="mailto:vijaywrite@taxindiaonline.com">vijaywrite@taxindiaonline.com</a>
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