Daily Archives: December 7, 2015

If converting stand-alone trees into billets is manufacture than it is not liable for service tax

Facts of the Case M/s Mysore Paper Mills Ltd. issued tender notifications calling for tenders from various contractors for the purpose of felling, conversion, debarking, collection, stacking, transportation and delivery of pulp wood from the captive plantation of the said M/s Mysore Paper Mills Ltd.The appellants  are all such contractors appointed by M/s Mysore Paper Mills… Read More »

Namami Gange Scheme progress

Progress of Namami Gange Scheme Cabinet approved the Namami Gange program on 13th May, 2015 as a comprehensive approach to rejuvenate the river Ganga and all its tributaries under one umbrella. A total of Rs. 20,000 crore has been allocated for this project to be spent over the next five years (2019).This includes funds allocated… Read More »

Anti-dumping duty on Phthalic Anhydride exported from Japan and Russia

Seeks to levy definitive anti-dumping duty on Phthalic Anhydride, originating in, or exported from Japan and Russia for a period of five year. [TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)]                                                            GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE)  Notification No. 56/2015-Customs (ADD)  New Delhi, the… Read More »

For Tamil Nadu extension of date for payment of Central Excise duty and Service Tax for November 2015 to the 20th of December 2015

F. No.296/07/2015-CX.9 Govt. of India Ministry of Finance Department of Revenue (Central Board of Excise and Customs) New Delhi, the 05th December, 2015 OFFICE MEMORANDUM Please find enclosed a press release issued by Central Board of Excise and Customs [CBEC] for taking necessary action at your end. Encls: As above Sd- (Hemambika R. Priya) Commissioner… Read More »

25% is Business income in case of sale of coffee grown and cured by the seller

IN THE ITAT CHENNAI BENCH ‘D’ Income-tax Officer, Business Ward XIII (1), Chennai v. T.C. Abraham N.R.S. GANESAN, JUDICIAL MEMBER AND A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER IT APPEAL NO. 1132 (MDS.) OF 2013 [ASSESSMENT YEAR 2006-07] SEPTEMBER  18, 2015 Milind Madhukar Bhusari, CIT for the Appellant. Philip George, Adv. for the Respondent. ORDER N.R.S. Ganesan,… Read More »

Penalty for undisclosed income can be imposed under section 271AAA and not under Section 271(1)(c)

As per  Section 271AAA (3) No penalty under the provisions of clause (c) of sub-section (1) of section 271 shall be imposed upon the assessee in respect of the undisclosed income referred to in sub-section (1) of Section 271AAA. IN THE ITAT AHMEDABAD BENCH Dr. Naman A. Shastri v. Assistant Commissioner of Income-tax, Central Circle… Read More »