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Income Tax: Disallowance of compensation paid on account of Employee Stock Option Plan (ESOP) - Business expenditure - The Circular issued by the CBDT is binding on the tax authorities and the same could be used by the assessee if proved beneficial to the assessee. - Tri

Service Tax: Renting of immovable property services - The term “hotel” is not defined in the Finance Act, 1994 - buildings used for or as hotels do not amount to immovable property for the purpose of service tax - demand set aside - Tri

Service Tax: Valuation of taxable services - assessee is collecting “other charges” and did not pay service tax on such charges - where the conditions of Pure Agent, condition of Rule 5(2) are not fulfilled, demand of service tax is to be confirmed - Tri

Service Tax: Forward Contract Service - any amount collected in the name of transaction fee is not remitted to the exchange and is retained by the appellant, it is apparent that the same will be an additional consideration accruing to the appellant towards service rendered to the clients. The name of such consideration becomes immaterial - Tri

Central Excise: Classification of manufactured goods - A mere non-mention of the item in the Schedule to the Insecticides Act 1968 will not change the situation and cannot automatically gives the conclusion that because of the non-mentioning of subject item in the said Schedule, the item is not an “insecticide‟ - Tri

Central Excise: Valuation - Since the repairing activity is carried out on the old card clothing which also includes the goods initially supplied by some other manufacturer, therefore the said repairing activity has no relation to the manufacture and clearance of new card clothing manufactured by the appellant - Tri

Central Excise: SSI exemption - the clearance against Form H has to be treated as clearance of export and same is not includable in the aggregate value for the purpose of SSI exemption N/N. 8/2003-C.E - Tri

Customs: Refund of customs duty - when an amount becomes refundable after a final order is passed, the same has to be refunded immediately and for such purpose, the assessee is not required to move an application u/S 27 of CA, 1962 - Tri

Income Tax: Income accrues or arises or is deemed to accrue or arise - Mere construction of the track by Jaypee at its expense will be of no consequence. Its ownership or organising other events by Jaypee is also immaterial - Buddh International Circuit is a fixed place where the commercial/economic activity of conducting F-1 Championship was carried out - TDS was required to be deducted u/s 195 on the profit portion - SC

Income Tax: Validity of notice issued under Section 201(1)/201(1A) - It may be a notice u/s 201 (3) of the Act but it only requires the petitioner to furnish the certain information and nothing else - there is no necessity or any justification for us to disturb or quash the above notice - HC

Income Tax: Assessee is entitled to adjustment of seized amount towards advance tax liability from the date of making the application in that regard. The Tribunal has rightly held that the assessee was entitled to adjustment of the said amount and no interest could be charged on that basis - HC

Customs: Valuation - Branded cut and polished cubic zirconia of PRECIOSA Brand - the finding of the appellate authority that the goods in question are of ‘star’ quality rather than the MCC grade is not based upon the authentic literature or expert opinion etc. and seems to be his own views on the topic - the enhancement of the value by the Commissioner (Appeals) cannot be held to be justifiable - Tri

Allied Laws: Dishonour of the cheques - VAT liability - In the absence of any adjudication by a competent authority, it cannot be said that on the date when the cheques were drawn there was an existing enforceable debt or liability. - Complain u/s 138 of the Negotiable Instruments Act quashed - HC

Allied Laws: Complain u/s 138 of the Negotiable Instruments Act - dishonour of the cheques - cheque was issued to pay duty of excise - In the absence of any adjudication by a competent authority under the provisions of the Act as regards the liability of the applicants to pay the excise duty, it cannot be said that on the date when the cheques were drawn there was an existing enforceable debt or liability. - HC

Customs: Import against advance license - If discharge of export obligation can be established by the importer from the other documents, as has been done in the present case, the non-submission of EODC certificate can not be held to be violation of condition of notification - Tri

VAT: Union is not exempted from the levy of indirect tax under Article 285 of the Constitution - General Manager, Western Railway can safely be termed as a dealer - HC

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Jiva Seva is Shiva Seva:
Service to humanity is Service to God

May I be born again and again, and suffer thousands of miseries so that I may worship the only God that exists, the only God I believe in, the sum total of all souls—and above all, my God the wicked, my God the miserable, my God the poor of all races, of all species, is the special object of my worship.

- Swami Vivekananda, CW, 5:137

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