TIOL-DDT 946 · the untouched capture
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<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><font color="#663399" size="3">TIOL-DDT 946</font><br>
08.09.2008<br>
Monday</strong></font></p>
<p align="center"><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Anti Dumping Duty on Hydrogen Peroxide</strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The Government has imposed anti dumping duty on Hydrogen Peroxide originating in, or exported from, the People's Republic of China, European Union, Indonesia, Korea ROK and Turkey.</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=23&filename=notification/custom/2008/ctariff08_102.htm" target="_blank">Notification No. 102/2008- Cus , Dated: September 4, 2008</a></font></p>
<p align="center"><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Export of PUSA -1121 variety of Non-basmati rice – allowed – with immediate effect</strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">As mentioned in <strong><a href="http://www.taxindiaonline.com/RC2/inside2.php3?filename=bnews_detail.php3&newsid=7817" target="_blank">DDT 944 – 04 09 2008</a></strong>, DGFT had by Notification 37 dated 02 09 2008, stipulated that,</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Export of PUSA -1121 variety of Non-basmati rice shall be allowed subject to the following conditions:-</font></p>
<p align="justify"><font color="#FF6633" size="2" face="Verdana, Arial, Helvetica, sans-serif">1. Export allowed subject to registration of contracts with APEDA , New Delhi, prior to shipment;</font></p>
<p align="justify"><font color="#FF6633" size="2" face="Verdana, Arial, Helvetica, sans-serif">2. Export permitted only if the minimum FOB price is US$ 1200 per ton or Rs. 48,000/- per ton;</font></p>
<p align="justify"><font color="#FF6633" size="2" face="Verdana, Arial, Helvetica, sans-serif">3. Export will be restricted through the following ports only:-</font></p>
<p align="justify"><font color="#FF6633" size="2" face="Verdana, Arial, Helvetica, sans-serif">i . Kandla</font></p>
<p align="justify"><font color="#FF6633" size="2" face="Verdana, Arial, Helvetica, sans-serif">ii. Kakinada</font></p>
<p align="justify"><font color="#FF6633" size="2" face="Verdana, Arial, Helvetica, sans-serif">iii. Kolkata</font></p>
<p align="justify"><font color="#FF6633" size="2" face="Verdana, Arial, Helvetica, sans-serif">iv. JNPT , Mumbai</font></p>
<p align="justify"><font color="#FF6633" size="2" face="Verdana, Arial, Helvetica, sans-serif">v. Mundra , and</font></p>
<p align="justify"><font color="#FF6633" size="2" face="Verdana, Arial, Helvetica, sans-serif">vi. Pipavav</font></p>
<p align="justify"><font color="#FF6633" size="2" face="Verdana, Arial, Helvetica, sans-serif">Export shall be allowed only with effect from 15 th October, 2008.</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Now this Notification is amended to stipulate that Export shall be allowed with immediate effect, out of paddy procured in KMS 2008-09 – that is one need not wait till 15th October.</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The Notification further stipulates that Export of Rice- seed quality will be free subject the conditions stipulated in Notification No. 32 Dated 19th August 2008. And what are they?</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1. Export will be allowed subject to submission of following documents to Customs at the time of export:</font></p>
<blockquote>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">( i ) A certificate of registration from authorized State Seed certifying Agency that it is a registered Seed producer/dealer; and</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">(ii) Declaration that the export consignment of seeds has been chemically treated and is not fit for human consumption; and</font></p>
</blockquote>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"> 2. Export packets will be labelled that seeds are treated with chemical insecticides and cannot be used for food or feed purposes.</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=45&filename=notification/dgft/2008/dgft08not038.htm" target="_blank">DGFT Notification No. 38 (RE-2008)/2004-2009, Dated: September 5, 2008</a></font><br>
<br>
</p>
<p align="center"><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>DRI arrests 80 year old man with six kgs of heroin</strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Age
does not whither nor do <strong>Customs </strong> stale
his infinite variety. An 80 year old man was arrested by DRI on Saturday
in Ludhiana with six kgs of heroin. Way back in 1979 his name figured for
the time time in more than 100 kg silver seizure case. Although he escaped
in that case but only to be arrested in 1994
with 50 gold biscuits and 12 kgs of heroin and was
released only last year.</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The
DRI sleuths could intercept the Indica in which the senior citizen smuggler
was travelling, only after a hot chase. The gentleman was not only 80 plus
but was on a pacemaker to keep life going! A DRI official told us, “Imagine
the anxiety the officers would have undergone handling him till he was safely
deposited in the jail on judicial custody”.</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">We agree. Had the pacemaker failed, DRI would have been in deep trouble and maybe even we would have written that the officers are cruel and have no concern for the life of an old man! It's still risky to be in DRI.</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Why should an 80 year old man just released from prison take the risk of again indulging in smuggling?</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">– Tomorrow's cases</font></strong></font></p>
<p align="justify"><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><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>Absolute confiscation should be an exception rather than a rule – Diana Air Gun although prohibited for import can be allowed to be redeemed on payment of redemption fine: Tribunal</strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>ONE</strong> Alfred Menezes and one Vithal Chopdekar imported Air guns of brand make “Diana” in their baggage and declared the same to the Customs authorities.</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The lower authority ordered confiscation of the impugned goods with an option to redeem the same on payment of redemption fine and personal penalty and appropriate duty. Both aficionados discharged the duty liability and also paid redemption fine, personal penalty and cleared the said air guns.</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Revenue was not pleased with this “firing” and took up the matter in appeal to the Commissioner(Appeals) arguing that these are prohibited items of import and hence the lower authority had erred in allowing them to be redeemed inasmuch as they ought to have been absolutely confiscated.</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>Claim for deduction of business expenses incurred by Managing Director on behalf of company not acceptable when expenses incurred by MD in initial stages were reimbursed by company in subsequent year: ITAT</strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>INCORPORATION</strong> of the company and appointment of the Managing Director for running the business alone are not sufficient to record a finding that business has been set up during the accounting period unless there is specific evidence that the activities for which the company is set up are undertaken by the company - Appellant s claim that business commenced in the year of incorporation and appointment of Managing Director not acceptable when expenses incurred by the Managing Director in the initial stages were reimbursed by the company in the subsequent year - Not entitled for claim of business expenses in the AY relevant to year of incorporation</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>Credit on Cast iron moulds – Amending notification 70/2003-CE(N.T) extending full CENVAT credit on moulds and dies not retrospective in nature: Tribunal</strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>CIRCULAR NO.</strong> 747/53/2003- CX dated 22.9.2003, only states that <strong>full CENVAT credit </strong> of duty paid on moulds and dies <strong>shall now be available </strong> to the manufacturer in the first year of acquisition itself, and the credit on moulds and dies received in the factory already, before this amendment (in September 2003), may be allowed as per the provisions existing earlier.</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="#FF6633" size="2" face="Verdana, Arial, Helvetica, sans-serif">Until Tomorrow with more <strong>DDT</strong></font></p>
<p align="justify"><font color="#FF6633" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Have a nice Day.</strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><font color="#FF6633">Mail your comments to</font> </strong><a href="mailto:vijaywrite@taxindiaonline.com">vijaywrite@taxindiaonline.com</a></font></p>
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