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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 den of corruption Nhava Sheva

AIT News Network

MUMBAI. CBEC Top Brass is in dock for posting Tapan Chakravarty as Assistant Commissioner of Customs in Nhava Sheva on promotion from Appraiser in Mumbai Customs against all norms of Transfers and Postings.

According to laid down norms an Officer cannot be posted on Promotion in the same Zone. When over 100 Officers of the rank of Assistant/Deputy Commissioners are cooling their heels in the Board Office and several Directorates for many years; it is all powerful Appraiser lobby which exercises its influence over the Members of CBEC in matters of transfer and posting and manages posting even on promotion to the rank of Assistant Commissioner to Mecca of Customs Officers i.e. Nhava Sheva. Tapan Chakravarty episode is only tip of the iceberg in the den of corruption Nhava Sheva which is the most sought after posting in Customs.

What led to CBI raids on Customs Officials is the complaint by a leading importer of tiles who was being squeezed by Customs Appraiser and the Assistant Commissioner for clearing his containers of tiles and was being asked to pay bribe for not levying Anti-dumping duty which is applicable only on import of vitrified tiles from China.

The importer first complained to the Intelligence Wing of Customs better known as CIU who reportedly recovered a cash of Rs.2 lakh only from the Appraiser but did not take any further action in the matter.

Aggrieved; the importer now complained to CBI which finally raided the Officials and recovered cash of Rs.17 lakhs from Antop Hill residence of the Assistant Commissioner of Customs Tapan Chakravarty who was head of Group III of Import handling import of sensitive items like tiles , yarns and fabrics.Further, Rs 14.80 lakh in cash and two kg of gold worth Rs 16.36 lakh was also recovered from his bank locker at the Dadar branch of Federal Bank.Had CBI raided the residences of all the Assistant Commissioners and Appraisers posted at Nhava Sheva; how much cash it would have recovered?

It is high time Members of CBEC wake up from their deep slumber and go for soul searching after this episode. Otherwise it is just the trailer and many more such episodes are in offing. First action which CBEC should take is to immediately transfer Commissioner and Additional Commissioners of Customs Nhava Sheva who were a mute spectator of such corruption. And if a Commissioner does not know (as would be claimed by him) what is happening in Nhava Sheva, he does not deserve to continue at the most sensitive place of Indian Customs.If CBEC does not act; even CBEC will be deemed as a mute spectator of ongoing affairs.

Transparency International has identified India as the Top rank holder in bribe giving. According to importers Nhava Sheva holds the Top rank in bribe taking.