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ITAT UPDATES - Even if commercial transaction is at arms’ length, debt overdue for long period attracts transfer pricing interest | CBDT UPDATES - CBDT Issues TDS Circular for Salaried | ITAT UPDATES - If Transfer Pricing difference is less than 5%, actual price should be taken as ALP | ITAT UPDATES - Expenditure claimed in the business of share dealings cannot be correlated to the incomes earned in personal capacity | SERVICE TAX CIRCULAR NO 132 - Fumigation of export cargo including agricultural/horticultural produce does not satisfy the statutory definition of ‘cleaning activity' | CBEC CUSTOMS CIRCULAR NO-04 - CBEC issues guidelines Handling of Cargo in Customs Areas Regulations, 2009 | DGFT PUBLIC NOTICE NO -21 - DGFT issues procedure relating to tracing and tracking of export consignment of pharmaceuticals and drugs | HC UPDATES - Section 80IA(9) affects allowability of deduction and not computation of deduction.  | CUSTOM NOTIFCATION NO -02 - No Import duty on raw, refined or white sugar to attract NIL rate of duty | CUSTOM NOTIFICATION NO - 01 - Import duty on all items required for the initial setting up of a solar power generation project or facility reduced to 5 % | SC UPDATES - The underlying principle of natural justice, evolved under the common law, is to check arbitrary exercise of power by the State or its functionaries. | SC UPDATES - Even s. 115J / 115JA Book Profit Cos liable for advance-tax & s. 234B interest | 2011-ITS-013-CESTAT - No law can be interpreted in a manner so as to give premium to illegal and criminal activities. | 2011-ITS-004-CESTAT - The time lost to collect revenue is compensated by collection of interest. | 2011-ITS-002-CESTAT - Once the penal provision of Section 76 and 78 which are subject to benevolency of Section 80 of Finance Act, 1994 does not disclose mala fide of the appellant. |

 

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Dispute over appointment of three new cbec members A.P Sudhir, Chitra Saha and SriKrishnan
New Delhi, July 18:-The appointment of three new members-- AP Sudhir, Chitra Saha and Srikrishnan --to the Central Board of Excise and Customs (CBEC) has triggered a row following complaints lodged by the two senior Indian revenue service officers Mr. IR Soni and Mr.SS Bedi- the central administrative tribunal (CAT) and the administrative tribunal in Chandigarh have issued stay orders on appointment of Mr Srikrishnan as CBEC member.

Mr Sudhir and Ms Saha, whose appointments have also been contested by the petitioners, had assumed office prior to the orders. Mr Soni and Mr Bedi had challenged the appointments as out of turn promotions, saying that their seniority had been overlooked in the process.Government sources, however, told FE that the CBEC membership was not a ?cadre post? with seniority as the sole criterion. ?The appointment is through a selection process. Weightage is given to the candidates? impeccable integrity and many other factors,? they said.

The government had reason to be suspicious of the honesty of the two offices, based on reports of the Central Vigilance Commission and the Intelligence Bureau. The government has already filed petition with the CT, urging that the two cases be clubbed. As per the service rules, an IRS officer can be considered for the post of the CBEC member only if he had at least one year of service left. Both Mr Bedi- who is chief commissioner in Chandigarh and Mr Soni (now chief department representative in Delhi) - meet this criterion, besides being the senior most.

 

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