TIOL-DDT 761 · the untouched capture
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<p><font size="2"><strong><font color="#663399" size="3" face="Verdana, Arial, Helvetica, sans-serif">TIOL-DDT 761 </font><font size="3" face="Verdana, Arial, Helvetica, sans-serif"></font><font face="Verdana, Arial, Helvetica, sans-serif"><br>
13.12.2007 <br>
Thursday </font></strong></font></p>
<p align="center"><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Sub-Commission on Illicit Drug Traffic and Related Matters in the Near and Middle East </strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The Central Bureau of Narcotics ( CBN ) on behalf of Government of India hosted the 42nd Session of the Sub-Commission on Illicit Drug Traffic and Related Matters in the Near and Middle East at Agra from 3rd to 7th December, 2007. The Central Bureau of Narcotics is the oldest specialized agency in the field of control over narcotic drugs and psychotropic substances. The Conference was organized jointly by the CBN and the United Nations Office on Drugs and Crime ( UNODC ), Vienna , Austria . The objective of the Conference was to assess the drug scenario and to promote regional and sub-regional coordination against illicit drug traffic. The Sub-commission has 23 member countries besides observer countries from Europe, USA , Australia and relevant intergovernmental organizations like Interpol as well as United Nations bodies. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The 42nd Session of the Sub commission was inaugurated by K. Mohandas , Additional Secretary (Revenue) , Ministry of Finance at Hotel Jay Pee Palace Agra. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">He threw light on the global efforts to put in place some uniformity among the laws of different nations around the world in the form of the three International Conventions which provides member countries to establish a mechanism to regulate licit trade in narcotic drugs, psychotropic substances and identified sensitive precursor chemicals, and institutionalized mechanisms for cooperation between nations. Among the mechanisms so established is the Commission on Narcotic Drugs- one of the functional bodies of the Economic and Social Council of the United Nations. As the subsidiary body of the CND , this sub-Commission shoulders the onerous responsibility of enhancing international cooperation in the field of drug control. He highlighted the importance of the sub-commission being held on the verge of the 10 year review of the UNGASS goals by the CND assumes a special significance as the review of the UNGASS goals was one of the topics proposed for discussion during this sub-commission. He also outlined the global drug abuse scenario and affect of the problem on member nations of sub-commission and hoped that the topics proposed for discussions by the working group of the sub-commission would come out with some positive deliberation to resolve the issue. He hoped that during this sub-commission, deliberations will be on what has been achieved and how far in pursuance of the resolutions and the Action Plan of the United Nations General Assembly Special Session 1998. These deliberations will provide valuable inputs to the next session of the CND . </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">In his address to the Session, Gary Lewis , Representative to Executive Director, UNODC , also outlined the issues related to global and regional drug trafficking scenario. He also stressed the need for strategy formulation by the governments to tackle the problem in an effective manner. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Jagjit Pavadia , Narcotics Commissioner, Central Bureau of Narcotics India was elected as Chairperson to the Session while Fahed Bin Affas Al- Qtaibi of Saudi Arabi and Lt. Col. Ibrahim Issa Mubarak Alboanain of Qatar were elected as Vice-Chairman. During the five days, detailed deliberations on various aspects of drug related problems were discussed. Participants were invited to inform the Subcommission of their respective countries' efforts as regards regional and sub-regional cooperation in areas such as joint investigations, law enforcement training and sharing of information and experience in taking measures to counter drug trafficking. Participants are requested to indicate in particular any practical problems impeding regional and subregional cooperation and measures to overcome those problems. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The representative from the countries also presented their country papers on these issues and apprised the meeting of the strategy and actions taken by their governments to tackle the problem and achieved the desired targets. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Suggestions and views of the representative were incorporated in the report of the meeting which was adopted by the meeting for submission to the meeting of Commission on Narcotic Drugs to be held at Vienna for ratification. The representatives from UNODC thanked the Government of India for successful hosting and providing necessary assistance in organizing the conference. </font></p>
<p align="center"><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>FTP - port of registration - Ghojadanga added </strong></font></p>
<p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">As per Para 4.19 of the Handbook Of Procedures to the FTP, </font></p>
<p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Advance Authorisation shall be issued for purpose of import and export through one of sea ports or airports or ICDs or LCS specified. Authorisation holder shall register authorisation at the port specified in authorisation and thereafter all imports against said authorisation shall be made only through that port, unless the authorisation holder obtains permission from customs authority concerned to import through any other specified port. However, exports may be made through any of the specified ports. </font></p>
<p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The Land Customs Stations ( LCS ) mentioned in the para are </font></p>
<p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">LCS : Ranaghat , Singhabad , Raxaul , Jogbani , Nautanva, ( Sonauli ), Petrapole , Mahadipur , Hilly, Chengrabanda , Dawki , Atari, Nepalganj Road , Agartala , Sutrakhandi , Amritsar Rail Cargo and Atari Road . </font></p>
<p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Now Ghojadanga is added to the list. </font></p>
<p><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=47&filename=notification/dgft/2007/dgft07pn089.htm" target="_blank">PUBLIC NOTICE NO 89 (RE-2007)/2004-2009, Dated: December 10, 2007 </a></font></p>
<p align="center"><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>RCMC for exporters from Orissa </strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">As per Para 2.67 of the HOP, </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">A status holder has option to obtain RCMC from Federation of Indian Exporters Organization ( FIEO ). </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Exporters of minor forest produce and their value added products shall obtain RCMC from SHEFEXIL , EPC . </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Software exporters shall register themselves with Electronic and Software EPC . Exporters of 13 specific services as listed in Sl. No. 34 of Appendix 2 of HBP v1 , are required to register themselves with Services EPC . Other service exporters shallregister themselves with FIEO . </font></p>
<p align="justify"><font color="#FF0000" size="2" face="Verdana, Arial, Helvetica, sans-serif">In respect of exporters having their head office / registered office in State of Orissa , RCMC may be obtained from FIEO office in Bhubaneshwar irrespective of product being exported by them. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Now
this sentence is added, "However, exporters of minor forest produce from
the State can also obtain RCMC from SHEFEXIL, EPC". </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">RCMC = Registration-cum-Membership Certificate </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">SHEFEXIL
= Shellac and Forest Products Export Promotion Council </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=47&filename=notification/dgft/2007/dgft07pn90.htm" target="_blank">PUBLIC NOTICE NO 90 (RE-2007)/2004-2009, Dated: December 11, 2007 </a></font></p>
<p align="center"><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Online trading of drugs - Paper Anabolics (Steroids )- easy to pass through Customs? </strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The website <a href="http://www.bodybuildingpro.com/paperanabolics.html">http://www.bodybuildingpro.com/paperanabolics.html </a> says, </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Paper Anabolics are an excellent chemical alternative to their tablet counterparts not only by virtue of the fact that delivery is virtually guaranteed, but because many reports suggest that users will experience greater gains with less negative side effects, e.g. stomach complaints, etc. We attribute this latter factor to our not using any binders or fillers, as you will find in tablets. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">You have in the Paper Anabolics primarily high-grade raw chemical, i.e. Methandienone , Oxymetholone , Stanazol , etc., as you would expect to find in the tablet form. <br>
<br>
The primary reason for our pursuing and developing the Paper Anabolics concept was to counter customer concerns for ordering overseas (e.g. from Amazing Thailand) certain forms of anabolic steroids. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Now, 8 months down the line with countless envelopes having been posted we <strong><font color="#663399">can report a 99% success rate through Customs</font> </strong> to date. Furthermore, a good number of those sent have been received in countries usually considered a real challenge to get into, e.g. Canada, Australia, New Zealand, South Africa, Sweden, to name but a few. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">But the Australian Customs was smarter when they caught a 36 year old Perth teacher importing a cardboard package embedded with the steroids Stanozolol and Methenolone Acetate. Customs officers in Perth intercepted the parcel from the UK , leading them to execute a search warrant on a property at Inglewood , in the city's north. At least Australian Customs has proved the website's claim of 99% success through Customs to be false. Or is it only the one percent caught? </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Though India is not in the main list of difficult countries to get into mentioned by the website, our Customs should be a little more careful while examining those innocent packages. </font></p>
<p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><font color="#006600">Jurispruden</font><font color="#663399" size="5">tiol</font><font size="5"></font><font color="#006600">- Tomorrow's cases</font></b></font></p>
<p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><strong><b><img src="http://www.taxindiaonline.com/RC2/image/stories/ddt_31.gif" alt="Legal Corner Icon" width="191" height="160" hspace="5" border="0" align="left"></b></strong></b></font></b></font></b></font></b></font></b></font></b></font></p>
<p align="justify"><font color="#663399" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Central Excise </strong></font></p>
<p align="justify"><font color="#FF6633" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Amount paid by the EOU after de-bonding is Cenvatable , rules Tribunal </strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">TO add to the long list of frivolous appeals being filed by the Revenue throwing to the wind the Board clarifications, and which, but naturally, are dumped by the Tribunal, here is a classic example. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The issue involved is whether the appellant after de-bonding himself from EOU to DTA is eligible to avail the credit of the amount of duty paid on indigenously procured capital goods or not. </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>Deductions - Transfer to reserve to be worked out on gross total income before making deduction u/s 36 as well as under Chapter VI-A of Act : Rajasthan HC Larger Bench </strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">THE issue before the High Court of Rajasthan was </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">"Whether, on the facts and in the circumstances of the case, the Tribunal was right in confirming the Commissioner of Income-tax (Appeals)' view that deduction under section 36(1) (viii) of transfer of reserve at 40 per cent, was to be worked out on the gross total income before making deduction under this section as well as under Chapter VI-A of the Income-tax Act, 1961 ?" </font></p>
<p align="justify"><font color="#FF6633" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>It is the legal owner who is liable to the wealth-tax levy on the value of specified assets licensed/leased by him for a term of less than twelve years as laid down in section </strong>269UA <strong>(f) : ITAT Special Bench . </strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">THE issues before the Special Bench: </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1. Whether the value of the immovable asset owned by an assessee is includible in the net wealth of the owner/assessee or the lessee in terms of section 4(8 )( b) of the Wealth Tax Act read with section 269UA (f) of the IT Act where the term of the lease is ( i ) exceeding 12 months but less than 12 years; and / or (ii) exceeding 12 years. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">2. Whether the words in parenthesis in section 4(8)(b) of the W.T. Act "(excluding any rights by way of lease from month to month or for a period not exceeding one year)" in fact relate to the nature of the lease agreement, which will not qualify for applying the provisions of section 4(8)(b) of the W.T. Act. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">3.
Whether lease agreement for a period for less than one year with an extension
clause which is normally an agreement of Leave and Licence, will not be covered
by section 4(8)(b) of the W-T Act and section 269UA (f) of the I.T. Act. </font></p>
<p align="justify"><font color="#663366" 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><font color="#FF6666" size="2" face="Verdana, Arial, Helvetica, sans-serif"></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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