the Appellate Tribunal was right in holding that the second reassessment proceedings were not validly initiated and thereby quashing the reassessment proceedings-the proceedings initiated by the AO for the second time under Section 147 is barred by limitation-even the proviso to Section 147 does not come into play on the facts of the case-AIT-2010-373-HC   Even if the goods belong to same entry, manufacture does take place if new identifiable/marketable goods known in market emerge due to operation conducted-the process of ironing applied to the stiched brassieres prior to their packing was a process incidental to the completion of the brassieres as a manufactured product-process of purification and filtration being incidental or ancillary to the manufacture of a marketable product, the Respondent was entitled to Modvat credit on the inputs involved-AIT-2010-370-HC   Larger Bench of CESTAT rules the Tribunal has ample power to condone the delay in filing the appeal including the one filed under section 35 E (4)-AIT-2010-372-CESTAT Corruption in IRS takes its toll-Deputy Commissioner of Income Tax Dhananjay Kumar arrested by CBI in Mumbai-Joint Commissioner of Customs & Excise Hemant Kothikar also arrested by CBI     FM directs expediting of Cadre Restructuring in CBDT & CBEC      Tariff Value for import of Brass Scrap is 3924-Customs Non-Tariff Notification No. 78    Chief Justice of Gauhati High Court Justice Ranjan Gogoi to be Chief Justice of Punjab & Haryana High Court    Anti-dumping duty on imports of Acrylic  Fibre originating in, or exported from Japan and Belarus-Customs Tariff Notification No.85  Prescribing SION for new product “Propylene” under Chemical & Allied Products Group-DGFT PN 7    Inclusion of Finished Leather in the Focus Product Scheme of FTP-DGFT PN 6    Exchange Rate for imported goods is Rs 47.25 per US Dollar and Rs 60.35  per EURO-Exchange Rate for export goods is Rs 46.30 per US Dollar and Rs 58.70 per EURO-Customs Non-Tariff Notification No. 77-Click on Exchange Rate for details   Anti Dumping Duty under the Notification No.15/2007 is not applicable to Spandex Yarn (Elastomeric yarn)-Customs Circular No.30    Import of goods under Notification No.13/2010 for Commonwealth Games, 2010-Customs Circular No.31    Larger Bench of CESTAT rules charges towards pre-delivery inspection and after-sale-service by dealers from buyers of the cars to be included in the assessable value of cars for payment of excise duty-AIT-2010-366-CESTAT    merely because there was non accounting of goods, penalty was technical and inference of clandestine removal was not called for-AIT-2010-365-HC  ITAT rules provision for doubtful debts and provision for standard debts are to be taken into consideration for computation of book profit u/s. 115JB of the IT Act-AIT-2010-361-ITAT    HC rules slitting of aluminum foils into customized width, mounting the same on the printing machine and thereafter printing the necessary text thereon is covered for 80IB benefit as it  falls within the ambit of the term “produce”-AIT-2010-363-HC    Definitive Anti-dumping duty imposed on imports of Coumarin, originating in, or exported from China-Customs Tariff Notification No. 82   Special Bench of ITAT Ruling-where a forward contract is entered into by the assessee to sell the foreign currency at an agreed price at a future date falling beyond the last date of accounting period, the loss is incurred to the assessee on account of evaluation of the contract on the last date of the accounting period i.e. before the date of maturity of the forward contract-AIT-2010-355-ITAT-SB       
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CBN arrests Police Officer in NDPS case

AIT News Network

  Officers of Central Bureau of Narcotics, Garoth has arrested an absconding accused Raj Kumar Sharma under NDPS Act, 1995. The accused Raj Kumar Sharma is a Police constable of MP police who was serving in Neemuch Police line at the time of seizure.

  On the basis of a secret information, a preventive party of Garoth Cell intercepted a Tavera ( Cheverolet Car) No. RJ 09 UA 0286 at Devri Nalam, Kudawan Road, PS Sharmgarh, Distt. Mantlsaur (Mp) on 05.01.2007 and recovered 14.000 kgs of Opium and j.000 kg of Heroin kept concealed in the inner .side of the back door of the vehicle, Three persons namely Bhopal Singh s/o Devi Singh Raiput r/o village Dhaba, Distt. Neemuch, Vikas s/o Rajendra Sharma r/o Neemuch and Gheesalal s/o Bherula Meghwal r/o Chautikhetla, Distt. Neemuch were arrested u/s 8/18 & 2l of the NDPS Act 1985. The Tavera Car was also seized u/s 60(3) of the NDPS Act, 1985. In this case, Shri Vinod Singh s/o Naharsingh rajput r/o Lasuditanwar, PS Baghana, Neemuch, the alleged supplier of the seized drug opium was arrested on 07.04.2002.

  The accused Bhopal Singh in his confessional statements had disclosed that out of the seized Heroin, he had purchased about 0.625 kgs of Heroin from one Raj Kumar sharma who was a constable in Neenmuch Cantt. police station for Rs. 1,80,000/- only. Further investigations were carried out and complaint in the instant cases was filed before the Hon'ble Special NDPS Court. Mandsaur on 29.10.2007 declaring Shri Raj Kumar Sharma and two other persons as absconding accused.

  Subsequent arrest warrant was issued against the said Raj Kumar Sharma, by the Hon'ble Special Court who appealed against the same and obtained a stay order on the execution of the warrant from the Hon'ble High Court of M.P. Bench at Indore. The department appealed against the said order of the Hon'ble Court whereupon the Hon'ble court ordered Raj Kumar Sharma to joint the investigations and to appear before the investigating officer on 27.04.2009. Thereafter, Shri Raj Kumar Sharma appeared before the investigation officer who arrested him on the basis of available unflinching evidence regarding his involvement in illcit trafficking in this case. Further investigations are in progress.

 

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