Regarding Recovery of confirmed demand during pendency of stay application

Regarding Recovery of confirmed demand during pendency of stay application Posted: 01 Jan 2013 06:43 PM PST It may be noted that a confirmed demand remains an order in operation till it is stayed. Mere preferment of appeal itself does not operate as a stay. Hon'ble Supreme Court in case of Collector of Customs, Bombay Vs Krishna Sales (P) Ltd [1994 (73) E.L.T 519 (S.C)] has observed that As is well... Mere filing of Appeal does not operate as a stay or suspension of Order appealed against Posted: 01 Jan 2013 06:41 PM PST If the authorities are of the opinion that the goods ought not to be released pending the appeal, the straight-forward course for them is to obtain an order of stay or other appropriate direction from the Tribunal or the Supreme Court, as the case may be. Without obtaining such an order they cannot... No service tax on transportation of milk by rail or a vessel from one place in India to another Posted: 01 Jan 2013 06:31 PM PST Representation has been received from the Indian Railways seeking clarification as to whether service by way of transportation of milk by rail is covered by Notification No.25/2012-ST dated 20.06.2012, serial number 20(i). Circular No.167/2/2013 - ST, New Delhi, 1st January, 2013 Reminder for insurance policies not being invoices would not invite levy of service tax Posted: 01 Jan 2013 06:26 PM PST It has been represented by life insurance companies that in terms of the practice followed, reminder notices/letters are being issued to the policy holders to pay renewal premiums. Such reminder notices only solicit furtherance of service which if accepted by policy holder by payment of premium... S. 147 Supply of recorded reasons after passing reassessment order renders the reopening void Posted: 01 Jan 2013 06:16 PM PST It is clear that the completion of assessment/re-assessment without furnishing the reasons recorded by the Assessing Officer for initiation of proceedings under section 147/148 of the Act is not sustainable in law as it is incumbent on the Assessing Officer to supply them within reasonable time as... Customs to install CCTV in Customs area for better security of imported & export goods Posted: 01 Jan 2013 03:58 PM PST Security of imported and export goods in Customs area is of utmost importance and any unauthorised access / entry should be prohibited at any cost. One methodology is to use video Cameras and CCTVs Systems. CVC has also emphasised the utility of video cameras and CCTVs Systems from the view point... Replacement of FDRs in respect of provisional Mega or Ultra-Mega Power Projects with Bank Guarantee Posted: 01 Jan 2013 03:49 PM PST I am directed to invite your attention to notification Nos. 12/2012-Customs (S.No.507) and 12/2012-Central Excise (S.No. 337 and 338), both dated 17-03-2012, granting exemption from customs and excise duties for provisional mega and ultra-mega power projects. Regarding Classification of Cordless Infrared Devices for Remote Control Posted: 01 Jan 2013 03:45 PM PST The issue of classification of cordless infrared devices for the remote control was taken up for discussion in the May, 2012 Mumbai Conference of Chief Commissioners of Customs and Directors General. The entries in National Import Data Base (NIDB) in tariff item 84159000 (Parts of heading 8415), ... No penalty for quoting wrong PAN if caused by negligence of deductee Posted: 31 Dec 2012 09:03 PM PST In the instant case, the ITO(TDS) while going through the quarterly return in Form No.26Q, filed by the assessee noted that it has omitted to quote PAN/had quoted invalid PAN in 196 cases. As regards the reasonable cause,it was pleaded on behalf of the assessee that TDS was deducted and deposited... Interest Income not eligible for deduction u/s. 80IB Posted: 31 Dec 2012 08:33 PM PST A bare look at section 80-IB(4) would reveal that reference made to 'profits and gains derived from such industrial undertakings' and not to 'profit and gains derived from any business of the industrial undertaking'. A conjoint reading of Section 80-IB(l) and 80-IB(4) would reveal that the... AO must make a reference to Valuation Officer in terms of S. 50C(2) if assessee objects to stamp duty valuation Posted: 31 Dec 2012 08:26 PM PST Assessee has objected to the valuation adopted by the stamp valuation authority and has also filed the valuation report by an Approved Valuer in support of the actual fair market value. The provisions of clause (a) of sub-section (2) of section 50C, provides that where the assessee claims before... In case of inseparable contract, rent income from letting of property & Furniture is taxable as 'income from Other Sources' Posted: 31 Dec 2012 08:10 PM PST Letting out of the plant, machinery or furniture and the premises constituted a single, composite and inseparable letting is based on the tests laid down by the constitution bench of the Supreme Court in the case of Sultan Bros. (P.) Ltd. (supra). Deduction U/s. 54F to be disallowed on failure to complete construction within three years Posted: 31 Dec 2012 08:03 PM PST In the case before us, admittedly no plans were made, therefore, there is no question of getting the same approved. Apart from this, the ld. counsel of the assessee admitted that assessee has no evidence to prove that assessee wanted to start construction. If the tax is allowed to be postponed... Notification No. 68/2012-Customs, Dated- 31st December, 2012 Posted: 31 Dec 2012 07:52 PM PST Notification No. 68/2012-Customs, New Delhi, the 31st December, 2012 G.S.R 953 (E).— In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the Government of India, in the Ministry of Finance (Department... Amendment in Concessional Duty rate of Goods imported into India from Malaysia Posted: 31 Dec 2012 07:44 PM PST Notification No. 67/2012 – Customs New Delhi, dated the 31st December, 2012             G.S.R. 952 (E).— In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public... Amendment in Concessional Duty rate of Goods imported into India from Korea Posted: 31 Dec 2012 07:30 PM PST Notification No. 66/2012 – Customs New Delhi, dated the 31st December, 2012 G.S.R. 951 (E).—In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to... Amendment in Duty rate of Goods imported into India from Japan Posted: 31 Dec 2012 07:24 PM PST Notification No. 65/2012 – Customs, New Delhi, dated the 31st December, 2012 G.S.R. 950 (E).— In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so... Duty Exemption to Crude Petroleum oils & oils obtained from bituminous minerals when imported from Brunei Darussalam Posted: 31 Dec 2012 07:06 PM PST Notification No. 63/2012-Customs Govt hereby exempts Crude Petroleum oils and oils obtained from bituminous minerals falling under the tariff item 2709 00 00 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), when imported into India from Brunei Darussalam, from whole of the ... Amendment in Tariff value of Gold, Silver, Crude /RBD Palm Oil, Brass Scrap, Poppy seeds Posted: 31 Dec 2012 07:02 PM PST NOTIFICATION NO 115/2012-CUSTOMS (NT), Dated: December 31, 2012 In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs, being satisfied that it is necessary and expedient so to do, hereby makes the... Revised list of Items for Custom Duty Concession when imported from ASEAN Countries Posted: 31 Dec 2012 04:10 PM PST  Notification No. 64/2012 – Customs,  dated the 31st December, 2012 G.S.R. 949 (E).— In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do,...