Monday, 11 August 2014
HC directs Tribunal to mention detailed facts and law in its order for finding out factual controver
Salary income declared after search proceedings would be undisclosed even if tax was deducted theref
Registration to a trust couldn’t be denied in absence of any adverse finding about its objectives
Amount paid under Rule 6(3) of CCR after recovering it from customers couldn’t be demanded again by
SEBI amends KYC norms; allows sharing of KYC information in the financial sector
Hydrogen gas cylinders eligible for credit as capital goods even if they were moved from factory for
CLB appointed administrator to oversee affairs Co. as its promoters were denied access into its affa
Sum received by assessee towards sharing of global telecommunication facility with NR agents wasn’t
Writ petition maintainable against pre-deposit order even when alternate remedy of filing appeal was
Revenue must prove what has been erected/commissioned/installed to demand ST under respective catego
Japan's June Polished Imports +7%
Japan’s polished diamond imports grew 7 percent year on year to $79.6 million in June 2014, Momozawa reported based on Japanese Finance Ministry data. However, by volume, polished imports declined 37 percent to 152,581 carats, while the average price of imported diamonds rose 71 percent to $522 per carat.
Polished diamond imports from India grew 8 percent to $36.2 million, while imports from Belgium fell 4 percent to $17.8 million and imports from Israel increased 86 percent to $7.4 million. Polished imports from Hong Kong declined 7 percent to $6.5 million while imports from Thailand fell 3 percent to $4.2 million. Imports from the United States more than doubled to $3 million – the largest percentage gain among the supplier countries.
During the first six months of the year, Japan's polished imports grew 8 percent to $444.9 million, while the volume of imports fell 14 percent to 1.006 million carats.
The largest gains by Japan's diamond trading partners during the first half of 2014 were registered by Thailand, from which imports by value rose 26 percent to $24.7 million. Polished imports from India increased 20 percent to $36.2 million during the half year.
Source:- diamonds.net
Tribunal can’t condone delay in passing of review order by Committee of Commissioners
Buyers commission paid for procuring export order is an allowable deduction under section 37(1)
SEBI approves norms of 'Real Estate Investment Trust' and 'Infrastructure Investment Trusts'
Sec. 54F benefit is available on purchase of multiple units if it constitutes one residential house
Revenue couldn’t plead for condoning delay in filing appeal before HC merely on ground of red tape
Compliance with all the conditions of section 220(2A) is a must to claim waiver of interest, rules H
Unloading of goods at notified customs airport is valid even if it isn’t notified by Commissioner as
Enforcement of duty of co. to file returns to Registrar can’t be invoked without duly servicing of n
[Indian Customs Non-Tariff Notification] : Appointment of Common Adjudicating Authority
[To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (ii)]
Government of India
Ministry of Finance
(Department of Revenue)
Notification No.58/2014-Customs (N.T.)
New Delhi, 8 th August, 2014
S.O. (E). – In exercise of the powers conferred by sub-section (1) of section 4 and subsection
(1) of section 5 of the Customs Act, 1962 (52 of 1962), the Board of Excise and
Customs hereby appoints the Additional Commissioner or Joint Commissioner of Customs,
Mundra Port and Special Economic Zone, Custom House, Port User Building, Mundra to act as
a common adjudicating authority to exercise the powers and discharge the duties conferred or
imposed on-
(i) the Additional Commissioner of Joint Commissioner of Customs, Mundra Port and
Special Economic Zone Custom House, Port User Building, Mundra;
(ii) the Additional Commissioner or Joint Commissioner of Customs, Custom House,
Near All India Radio Navrangpura, Ahmedabad-380009;
for the purpose of adjudicating the matters relating to show cause notice pertaining to M/s
Kiran Global Chem Limited, New No: 42, New Avadi Road, Kilpauk, Chennai and others vide
show cause notice F.No. DRI/AZU/ INV-15/2013 dated the 23 rd January, 2014 by the
Additional Director, Directorate of Revenue Intelligence, Ahmadabad Zonal Unit, Ahmedabad-
380007.
[F. No. 437/22/2014-Cus IV]
(R.P.Singh)
Director (Customs)