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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CBI raids several Customs Officers for extortion and corruption

AIT News Network

Hydearabad. CBI has raided the Customs Officers working at Begumpet Airport in Hyderabad. A thorough search of the Customs Office located in International Arrival Hall of Airport was conducted by CBI in addition to personal search of Customs Officers.

  • The lockers of the Officers in their office were also searched and scotch whisky and electronic goods were also recovered by CBI. Residences of several Customs Officers have also been searched by CBI.

  • Seven Customs Officers including some working on contract have been arrested by CBI on charges of extortion, corruption and smuggling after recovery of Indian and Foreign Currency which was termed as undeclared or unaccounted for by the Officers. On joining night shift at Airport; all the Officers are required to declare in a register the amount of cash exceeding Rs 500/-being carried by them in their pocket.

  • CBI had received several complaints from international passengers that the Customs Officers were indulging in extortion of money from passengers landing at Airport that is why the CBI raided the Airport in night after landing of International flights.

·         A Customs Officer’s job at Airport is no more considered lucrative with free allowance of passengers hiked to Rs 25000/- per passenger and in addition one laptop being allowed duty free. Further, the passengers returning after a long stay are also allowed to bring spcified quantity of gold with them which can be cleared by them on payment of nominal Customs duty.  

·         Even job of an IRS Officer is no more a lucrative job with liberalisation of Customs & Excise Procedures. Several IRS Officers who joined after having IIT or IIM Degrees are already regretting their decision of joining the Department and are cooling their heels without any powers and are working without even a Steno with all the responsibilities on their shoulders; while their IIT and IIM Batchmates become CEOs of the Companies by the age of 40 ; an IRS remains a poorly paid Officer. Moreover, with several IRS Officers also being recently raided by CBI it is no more an IRS(I Remain Safe) job. Government Officials are bound by conduct rules and are required to give intimation to their Administrative Head about every Bank/cash or other transactions and sale purchase involving  an amount of above Rs 15000/-as an Anti-Corruption measure of the Government. Anything recovered during CBI raid for which intimation is not given by the Officers; is deemed to be unaccounted or undeclared transaction for which a chargesheet is filed in the Court against the Officer. It is no doubt a High Risk case to make money in such departments with sword of humiliating CBI raid always hanging at your neck. Once an Officer gets entangled in CBI encounter; he is not allowed to even resign or seek voluntary retirement.

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