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06.06.2012 - Voice of CA Presents - Updates
Wednesday, June 6, 2012

I.  Voice of CA  files representation on Service Tax:

Before the Commissioner of Service Tax - New Delhi, in response to representation received from our subscribers against additional requirement for registration under Service Tax vide Trade Notice no. 07/st/2012 dated 25/04/2012. Hoping for the early solution.... 

(To view representation, please click here) 


II.  Today's News:   

  1. Foreign Trade Policy, 2009-2014 as updated upto 5th June 2012  (Click for detail)

  2. Highlights of Annual Supplement 2012-13 to Foreign Trade Policy, 2009-2014  (Click for detail)

  3. ST Noti. No. 22 - Finance Act, 2012 - Notified date for purposes of newly inserted proviso to section 66  (Click for detail)

  4. ST Noti. No. 21 - Finance Act, 2012 - Notified date for purposes of newly inserted sub-section (3) of section 65A  (Click for detail)

  5. ST Noti. No. 20 - Finance Act, 2012 - Notified date under newly inserted proviso to section 65 (Click for detail)

  6. ST Noti. No. 19 - Finance Act, 2012 - Notified date for insertion of new sections 65B, 66B to 66F and amendment in section 67/68  (Click for detail)

  7. ST Noti. No. 18 - Finance Act, 2012 - Notified date for enforcement of amendment in sections 65, 65A, 66 and 66A  (Click for detail)

  8. More Services in Tax Net,-Ve List Regime Notified  (Click for detail)

  9. Tax on Your Indulgences  (Click for detail)

  10. Govt offers sops to boost exports  (Click for detail)


III.  Useful Case laws:

1.    M/s Blue Steel Engineers P. Ltd Vs. DCIT, ITA No. 6411/2010, Date of Pronouncement: 11/05/2012, ITAT- Mumbai

Issue - Whether ad hoc disallowance of foreign travelling expenses u/s 14A without pinpointing any specific instance is valid?

Held that the directors of the company have undergone foreign travelling for the purpose of export and looking for the business avenues abroad. The details submitted by the assessee though only provides the date of travelling, details of country visited and amount of fare, visa charges and other miscellaneous expenses incurred, however, the Assessing Officer has not brought anything on record to show that the foreign travelling was for personal purposes. Once the foreign travelling has been accepted for the purpose of business then part of the amount cannot be disallowed on account of personal user unless it is established that there was personal and non business expenditure. Since no basis has been given nor anything adverse has been brought on record, the ad hoc addition cannot be disallowed.

(Please click here for judgment)


2.  Acorus Unitech Wireless Pvt. Ltd. & Anr. Vs. DCIT, Writ Petition(Civil) No.  2155/2012, Date of Decision: 28/05/2012, High Court of Delhi

Whether Assessing Officer has a power to issue reassessments notice under Section 147/148 of the Act during the period when the Assessing Officer already issued notice u/s 143(2) of the Act, for scrutiny assessment u/s 143(3).

For issue a notice u/s 143(2), reasons to believe are not required to be recorded in writing and power of the Assessing Officer to take up the return for scrutiny is much wider and the jurisdictional pre-conditions stipulated u/s 147 are not required to be satisfied. The respondents have agreed to and will be bound by the statement to withdraw notice u/s 147/148, but will have liberty and right to issue fresh notice u/s 147/148, after recording reasons to believe. The said notice will not be barred because the respondents had not initiated proceedings by issue of notice under Section 143(2) of the Act or they had earlier issued notice under Sections 147/148. With the aforesaid findings and observations writ petition is disposed of.

(Please click here for judgment)


Key of Success :

"Health is the Greatest Gift..
Contentment the Greatest Wealth..
Faithfulness the Best Relationship… Buddha"   


Thanks for your valuable time


"Voice of CA"  

CA. Sanjay 'Voice of CA' Agarwal
Mob: 9811080342,      
CA. Sidharth Jain, Co-Moderator  
CA. Mukesh K Bansal, Co-Moderator-FEMA 

CA. Avinash Gupta, Co-Moderator-International Taxation 


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