IT/ILT: Where assessee, engaged in rendering information technology solutions to companies within CGI Group and other global customers, entered into an agreement with CGI Group Inc., a Canada based company, whereby assessee got a right to use intranet facilities belonging to Canadian company for rendering aforesaid services, payment made by assessee for utilising those facilities amounted to royalty liable to tax in India
Monday, 25 August 2014
Assisting clients in executing export orders and marketing of products weren’t Management Consultanc
Service Tax : Mere helping a client in executing export orders or in selecting granite blocks is not covered by Management Consultancy Service, as there is no element of any consultancy with objective of management, etc.
Calcutta HC rejects appeal against order of Bangalore ITAT which was appealable before Karnataka HC
IT : Appeal against order of Appellate Tribunal, Bangalore can be filed only in Karnataka High Court
Revenue had to refer matter to licensing authority on violating Foreign trade policy than taking act
Excise & Customs : Where assessee has violated any terms and conditions of advance authorisation/licenses, revenue should refer matter to Licensing Authority/DGFT for appropriate action rather than taking action suo motu
No sec. 69C disallowance if assessee had explained source of exp. and furnished PAN and TDS certific
IT : Where assessee had explained source of expenditure and had furnished complete details of expenditure such as name of parties to whom payment had been made, their address, PAN, amount paid, copy of TDS certificate etc., no disallowance could be made under section 69C
[Indian Customs Order] : Appointment of Common Adjudicating Authority
F. No.437/94/2014-Cus IV
Government of India
Ministry of Finance
Department of Revenue
(Central Board Excise & Customs)
*****
New Delhi, dated 25 th August, 2014
ORDER
In terms of Notification No.15/2002-Customs (N.T.) dated 07.03.2002 ( as
amended) issued under sub-section (1) of section 4 of the Customs Act, 1962 (52 of
1962), the Board hereby assigns the Show Cause Notice DRI F.No.65/KOL/APP/
2012/1396-1421 dated 04.04.2014 issued by Additional Director General, Directorate of
Revenue Intelligence, Kolkata Zonal Unit, Kolkata in the case of M/s Vedika Metals
Private Ltd., 201, Annapurna Building, Shyam Kunj Complex, 12A, Lord Sinha Road,
Kolkata and others to the Commissioner of Customs (Port), 15/1, Strand Road, Custom
House, Kolkata for the purpose of adjudication.
(R.P.Singh)
Director (Customs)
Copy to:-
1. The Additional Director General, Directorate of Revenue Intelligence, Kolkata
Zonal Unit, 8, Ho Chi-Minh Sarani, Kolkata-700071
2. The Commissioner of Customs, (Port), Custom House, 15/1, Strand Road, Kolkata-
700001
3. The Additional Commissioner of Customs (Port), Custom House, 15/1, Strand
Road, Kolkata-700001
4. The Additional Commissioner of Customs (Airport), Custom House, 15/1, Strand
Road, Kolkata-700001
5. webmaster.cbec@icegate.gov.in.
[Indian Customs Order] : Appointment of Common Adjudicating Authority
F.No.437/92/2014-Cus IV
Government of India
Ministry of Finance
Department of Revenue
(Central Board Excise & Customs)
*****
New Delhi, dated 25 th August, 2014
ORDER
In terms of Notification No.15/2002-Customs (N.T.) dated 07.03.2002 (as
amended) issued under sub-section (1) of section 4 of the Customs Act, 1962 (52 of
1962), the Board hereby assigns the Show Cause Notice DRI F.No.62/KOL/
APP/2012/6183-6205 dated 29.11.2013 issued by Additional Director General,
Directorate of Revenue Intelligence, Kolkata Zonal Unit, Kolkata in the case of M/s
Mortex (India), Room No.1A, 3 rd Floor, 20 British India Street, Kolkata and others to the
Commissioner of Customs (Port), 15/1, Strand Road, Custom House, Kolkata for the
purpose of adjudication.
(R.P.Singh)
Director (Customs)
Copy to:-
1. The Additional Director General, Directorate of Revenue Intelligence, Kolkata
Zonal Unit, 8, Ho Chi-Minh Sarani, Kolkata-700071
2. The Commissioner of Customs (Port), 15/1, Strand Road, Custom House, Kolkata.
3. The Commissioner of Customs,(Preventive), Custom House, 15/1, Strand Road,
Kolkata-700001
4. The Additional Commissioner of Customs, (Port), Custom House, 15/1, Strand
Road, Kolkata-700001
5. The Additional Commissioner of Customs (Port) Custom House, Near Balaji
Temple, Kandla-370210
6. The Additional Commissioner of Customs, Custom House, Near All India Radio,
Navarangpura, Ahmedabad-380009
7. The Additional Commissioner of Customs (Port-Import), Custom House, 60 Rajaji
Salai, Chennai-600001
8. The Additional Commissioner of Customs (Port), New Custom House, Panambur,
Mangalore-575010.
9. The Additional Commissioner of Central Excise & Customs, Bolpur
Commissionerate, Bolpur (Sian), Nanoor- Chandidas Road, Bolpur, West Bengal-
731204
10. webmaster.cbec@icegate.gov.in
Exporter can claim Cenvat credit for payment of commission on export sales, bank commission and avia
Cenvat Credit : Assessee-exporter is prima facie entitled to CENVAT Credit of commission on export sales, bank commission charges and aviation charges
CCI: Dominance of an enterprise should be within relevant market and not in relation to individual c
Competition Law : Dominance of an enterprise is always seen with regard to state of competition in its own relevant market and not with regard to individual consumer it is dealing with
ITAT deletes TP adjustment for services rendered among AEs following its earlier ruling
IT/ILT : Where TPO made certain addition to assessee's ALP taking a view that since group concerns did not render any services to assessee, value of transactions relating to reimbursement of salary expenses to those concerns was to be taken at nil, in view of fact that in earlier assessment year Tribunal had recorded a finding of fact that group companies infact rendered liaisioning and other support services to assessee abroad, in absence of any change in circumstances during relevant year, fol
Income arising to NR from facilitating export of goods without buying them in its name isn't chargea
IT/ILT : Exemption to non-resident from tax of income arising to him 'through or from operations which are confined to purchase of goods in for the purpose of export' is not limited to situations where the non-resident actually purchases the goods in India in his own name and then exports them. Exemption is available even in a situation where assessee is giving services to both the foreign buyer and Indian purchaser resulting in exports of goods from India resulting in earning of foreign exchang
Bajaj To Export India Made Ktm Rc And Duke Series To America
Bajaj Auto owns 47% in KTM Power Sports AG, an Austrian sports motorcycle company. They produce Duke 125, Duke 200, and Duke 390 at their plant in Pune. They will also start production of RC 125, RC 200 and RC 390 at the plant. These six bikes are only made at this plant, and are then exported to other markets.
Already being exported to markets in Europe, Bajaj will also export KTM bikes to China and Brazil. Now, it has emerged that Bajaj has also added US to this list. By end of 2014, KTM exports to US will also commence from Bajaj’s Pune plant, thus making Bajaj Auto first Indian auto company to export motorcycles to the US.
In FY14, KTM bikes exported from India touched 24,000 units, while sold in domestic markets touched 11,000 units. This number is expected to grow significantly once the RC Series is launched. India will soon get the KTM RC 200 and RC 390 as they are scheduled to launch on 9th September with a price range of Rs 2-2.5 lakhs.
As far as rumours of Bajaj planning a comeback in the scooter segment, this has been rubbished by the company. Bajaj officials have confirmed that they will not enter the scooter segment. Bajaj Auto Limited, India’s leading exporter of motorcycles and three wheelers, will continue to with motorcycles and exports as their prime focus.
Bajaj Auto Limited with added emphasis on their Discovery and Pulsar brands has noted increased demand in bike segment over the past few years. It is for this reason that the company has planned to concentrate more on this segment. Not only India, they also wish to enter new overseas markets in the future, apart from the existing 50 countries in which they are present already.
Bajaj Auto reported a 9% increase in motorcycle sales during July 2014. The company stated that it sold 2,67,841 motorcycles in July 2014 as against 2,46,828 units in July 2013, while sales of commercial vehicles also increased significantly by 49%. Even with no presence in scooter segment, Bajaj Auto reports the highest operating profit of 19%, as compared to Hero’s 13% and TVS’s 6% in the segment.
Source:- rushlane.com
Rupee Recovers After Initial Losses Against Dollar
The rupee recovered after initial losses against the American currency and was quoted at 60.46 per dollar in morning trade on fresh selling of dollars by banks and exporters in view of a strong equity market.
The rupee resumed lower at 60.52 per dollar as against the last weekend’s level of 60.47 per dollar at the Interbank Foreign Exchange (Forex) market on initial dollar demand from some banks and importers on the back of higher dollar in the overseas market.
However, it recovered immediately to 60.43 per dollar before quoting at 60.46 per dollar at 1000 hours on hopes of good foreign capital inflows due to strong equity market.
It moved in a range of 60.43 and 60.53 per dollar during morning trade.The Sensex rallied to an all-time high of 26,582.27 before quoting at 26,578.36 at 1000 hours.
In New York market, the US dollar moved higher on last Friday after a top Federal Reserve official suggested the economy is moving toward the central bank’s objectives, pushing the Greenback to its biggest weekly rise against the yen since July 2013.
Source:- thehindu.com
No penalty on mere existence of unaccounted goods unless assessee intended to remove those goods sec
Excise & Customs : Where there is no evidence to show or remotely indicate that assessee had intention to remove unaccounted goods clandestinely, goods remaining unaccounted due to sealing by bank on default in payment of instalment cannot be confiscated and penalty cannot be imposed under Rule 25
Developer could postpone recognition of income if he wasn’t sure about its realization due to disput
IT: Developer could postpone recognition of income if he wasn’t sure about its realization due to dispute over land
Wooden boards used in switch boards fall in Entry 113 of Part A of Second Schedule of Gujarat Sales-
CST & VAT : Wooden boards of different sizes and types used for manufacturing switch boards would fall under Entry No. 113 of Part A of Second Schedule to Gujarat Sales Tax Act, 1969
Subsidy granted to compensate interest and storage cost on holding of buffer stock of sugar was reve
IT: Where subsidy was given to assessee for holding buffer stock of sugar was to be treated as revenue receipt as object was to compensate assessee in running his business
Two units producing same goods at one place with common manufacturing facilities deemed as one facto
Excise & Customs : Two units of same assessee : (a) manufacturing same goods; (b) without even a dividing wall between them; (c) within common compound and common entry and exit gate, (d) sharing common electricity connection and manufacture/storage facilities and (e) having inter-linked processes, are to be treated as 'one factory' for purposes of registration and threshold exemptions
Business transactions entered by assessee with its sister concern were outside the ambit of deemed d
IT : Where in respect of payments received by assessee from its sister concern, Assessing Officer having invoked provisions of section 2(22)(e), made addition to assessee's income on account of deemed dividend taking a view that one shareholder had got substantial interest in both companies, in view of fact that payments in question were result of business transaction entered into by assessee with its sister concern, impugned addition made by Assessing Officer was to be set aside
Service-tax law doesn’t earmark or limit jurisdiction of Commissioner on territorial basis
Service Tax : In absence of any provision earmarking or limiting jurisdiction of Commissioner on territorial basis, Raipur Commissioner could exercise jurisdiction in respect of assessee (a resident of Raipur) who had provided services in Bihar, Orissa and West Bengal
ITAT directs AO to reconsider issue of grossing-up as assessee didn’t furnish details of tax withhel
IT/ILT : Income being payable net of tax, for purpose of deduction of tax, such amount of payment would be increased by amount of tax
HC rejected winding up plea as petitioner failed to produce doc of assurance for disputed sum
CL: On failure of petitioner to present document of assurance of respondent-company about payment of disputed bills, winding up petition against respondent could not be admitted
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