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[No.73]
January 10, 2004 |
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International Legal News
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Cases
Source:
Westlawinternational.com
The denial of a handbag designer's request for a permanent injunction against a
retailer, who had infringed the designer's trademark through the sale of
high-quality counterfeit bags, was not an abuse of discretion, absent showing of
irreparable injury. The retailer was an innocent infringer, had voluntarily
withdrawn the handbags from its shelves when notified of the infringement, and
had enacted a policy of not dealing with the designer's products in the future.
The district also acted within its discretion in refusing to require the
retailer to recall the counterfeit bags it had sold and in refusing to require
the retailer to disgorge its profits.
Gucci America, Inc. v. Daffy's Inc.
The owner of a website and the mark "1-800 CONTACTS" established a
likelihood of confusion warranting preliminary injunctive relief on a trademark
infringement claim against a competitor and a software company. The company
created a program causing pop-up advertisements for the competitor to appear
when the owner's website was viewed by a software user. The defendants
"used" the owner's mark in commerce. Additionally, the pop-up
advertisements could confuse consumers into thinking that the competitor was
somehow associated with the owner, and the mark was both strong in the
marketplace and similar to the website address
"<www.1800contacts.com>" used by the software. Moreover, a
survey was at least suggestive of the likelihood of initial interest confusion,
and knowing use of the owner's mark supported a finding of bad faith.
1-800 Contacts, Inc. v. WhenU.com
It was an abuse of discretion in a child custody trial for the trial court to
refuse to interview a 13-year old child regarding which parent she wanted to
live with before the trial court determined that it was in the child's best
interests to live with the father. Because the child was old enough, and
intelligent enough, to express her custodial preference, the court was required
by statute to consider the child's wishes. Because no evidence as to the child's
wishes was presented at trial, the trial court was obligated to interview the
child about her preference.
For purposes of a principal's claim of bad faith against a surety who pays a
claimant under a payment bond in which an indemnity agreement between the
principal and the surety states that the surety has the exclusive right to
settle any claims on the bond, bad faith requires an improper motive or
dishonest purpose on the part of the surety. This standard preserves a proper
balance between affording the surety the wide discretion to settle that it
requires, while ensuring that the principal is protected against serious and
wilful transgression. This was a case of apparent first impression.
PSE Consulting, Inc. v. Frank Mercede and Sons, Inc.
News
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Jeffrey Scott Hornoff, a former Rhode Island
police detective who spent more than six years in prison for a murder he did not
commit may be reinstated to the Warwick Police Department and receive lost pay
and benefits that may surpass $500,000.Hornoff was convicted in 1996 and
sentenced to life in prison for murder of Victoria Cushman, who was bludgeoned
to death with a fire extinguisher. The former detective was released from prison
in 2002 when another man confessed to the killing of a woman with whom Hornoff
had an affair.
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Supreme Court in a 5-4 ruling lifted a stay on
the execution of a Texas inmate Kevin Lee Zimmerman, who had challenged one of
the drugs used to carry out the death penalty. Zimmerman and other Texas death
row inmates have sued claiming the use of pancuronium bromide -- a drug that
paralyzes muscles -- in executions is cruel and unusual punishment.
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A U.K couple have been charged for endangering
their baby's life by leaving the six month old, alone in the parked car. Their
lawyer says they are victims of a cultural misunderstanding. Leaving a child
alone in a car for a few minutes is acceptable in Europe but taboo in the US, he
says.
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UBS Bank, An investment bank that helped sell
securities tied to the stock price of WorldCom Inc. has been dismissed from the
class actions filed over those securities following the collapse of the
telecommunications giant. Southern District Judge Denise Cote granted the motion
to dismiss made by UBS AG, saying the bank's accurate statements about the
historical stock price could not support a claim under the securities laws.
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U.S. District Judge C. Lynwood Smith Jr. of the
Northern District of Alabama has ordered a Sports Illustrated writer to disclose
his confidential sources, he used in a 2003 story about former University of
Alabama head football coach Michael D. Price in the matter of Price v.
Time. An interlocutory appeal before the 11th U.S. Circuit Court of Appeals in
Atlanta has been filed by Time Inc., Sports Illustrated's parent company against
J. Smith's order in the $20 million libel case. This has been called as the
delay tactic by Price's lawyers.
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Ali
Lamrabet, Morocco's leading satirical
journalist was granted pardon by King Mohammed of Morocco for insulting
the king and endangering Morocco's territorial integrity. The pardon comes more
than seven months after Mr Lamrabet was jailed. He had been serving a three-year
prison sentence for publishing articles, cartoons and photographs in a weekly
magazine which he edited.
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SEBI
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Secondary Market Division
Circular No.
SEBI/SMDRP/DC/Cir-/2004/01/05 Dated 05.01.2004 : Based on the recommendation of
the SEBI Advisory Committee on Derivatives and Market Risk Management (RMG),
SEBI has decided to permit interest rate futures contract on a "10 year
coupon bearing notional bond" which shall be priced off a basket of bonds.
Circular No.
SEBI/MRD/SE/AT/47/2003 Dated 30.12.2003 : The circular no. SMD/Policy/Cir-9/2003
dated March 11, 2003, on "Risk Management for T+2 rolling settlement."
has been amended partially and the Stock Exchanges are advised to comply with
the provisions regarding collection of VaR based margin. According to the
provisions Var based margin shall be collected on an upfront basis at the time
of trade (instead of T+1 day) and it shall be adjusted against the additional
capital /collateral deposited by the member. Also margin so collected may be
released along with the pay-in.
Foreign Institutional
Investors
Circular No. IMD/FII/12/2004
Dated 01.01.2004 : With a view to further streamlining the process of
registration of FIIs, it has been decided that all prospective FII applicants
shall submit the fees as prescribed in the SEBI (Foreign Institutional Investor)
Regulations, 1995 along with the application. Similarly, those FIIs/sub-accounts
who wish to renew their registration shall also submit the fees as prescribed in
the SEBI (Foreign Institutional Investor) Regulations, 1995 along with the
application for renewal.
Press Releases
Press Release No. PR 03/2004
Dated 07.01.2004 : In the cases where the derivative contract's value has
exceeded Rs. 2 lakh it has been decided to reduce the value of the contract to
close to but not less than Rs. 2 lakh by using an appropriate lot size /
multiplier which could be half or 50%. The exchanges could determine any other
lot size / multipliers to keep the contract size of derivatives close to Rs. 2
lakh, but in any case not less than Rs. 2 lakh.
Press Release No. PR 330/2003
Dated 30.12.2003 : There are altogether 515 entitles registered as Foreign
Institutional Investors (FIIs) with SEBI at the end of November 2003. Out of
these FIIs only 12 entities have issued Participatory Notes (PNs) outstanding as
at the end of November 2003. The total value of underlying investments in equity
represented by the PNs is Rs. 21,179 crore, representing about 25% of the total
investments in equities of Rs. 84, 762 crore. at the end of November 2003. The
analysis of PN reports indicates that the underlying investments represented by
PNs are diversified across over 200 scrips.
Press Release No. PR 329/2003
Dated 30.12.2003 : Amendments to SEBI (Employee Stock Option Scheme (ESOP) &
Employees Share Purchase Scheme (ESPS). Guidelines 1999 have been proposed by
SEBI in order to elaborate on certain specific aspects as well as to streamline
existing requirements and to correct a few anomalies in the present Guidelines
and SEBI has invited comments/suggestions/views of the public and others
concerned in this regard
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Department of Company Affairs
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Circular No. 37/2003 Dated
31.12.2003 : It has been decided to extend the Simplified Exit Scheme by a
further period of three months with effect from 1.1.2004.
Circular No. 36/2003 Dated
29.12.2003 : It has been decided to revise the applicability clause contained in
Rule 2(1) and Rule 2(3)of Cost Accounting Records (Milk Food) Amendment Rules,
2001 in such a manner that these rules will be applicable to the companies
engaged in the Production, Processing or manufacture of (i) Infant Milk Foods as
defined in the erstwhile Rule 2 and Rule 3 of Cost Accounting Records (Infant
Milk Foods) Rules, 1974, or (ii) Milk Food as defined under erstwhile Rule 2(1)
and Rule 2(3) of Cost Accounting Records (Milk Food) Rules, 1986.
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CBDT
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Circular No. 1/2004 Dated
02.01.2004 : The Board has viewed that in a case where a non-resident, carrying
on manufacture and sale of goods or merchandise or provision of services outside
India, outsources some of its incidental activities viz. conclusion of contracts
and procurement of orders (which enable the core activities to be carried on
abroad) to an IT-enabled entity in India, which constitutes a permanent
establishment of the non-resident principal, then the insignificant profit which
is difficult to determine and attributable to the conclusion of such contracts
or procurement of such orders can be considered to be embedded in the income of
the permanent establishment taxable in India, if the price charged in respect of
the above services by the permanent establishment is an arm's length/ fair
market price. In such a situation, therefore, no income shall separately accrue
or arise or be deemed to accrue or arise to the non-resident principal in India.
Circular No. 10/2003 Dated
24.12.2003 : In order to provide relief to the Individual Coffee growers, the
Board has clarified that an individual deriving income from growing and curing
Coffee, with or without in mixing Chicory or other flavouring ingredients, and
not covered by the first proviso to Section 139(1) of the Income tax Act, 1961,
would not be obliged to file his Return, if his income from growing and curing
of Coffee is Rs. 2 lakh or less as only 25% of such income is taxable as
Business Income under Rule 7B(1) of the Income tax Rules, 1962. Where such
individual, not covered by the first proviso to Section 139(1), derives income
from growing, curing, roasting and grounding, with or without mixing Chicory or
other flavouring ingredients and his income from such activity is Rs. 1,25,000
or less, he would not be obliged to file his Return of Income as only 40% of
such Income is taxable as Business Income 7B(2) of the Income tax Rules, 1962.
Instruction No. 20/2003 Dated
23.12.2003 : With a view to avoid delay in passing/issue of the appellate orders
by the Commissioner of Income Tax (Appeals) which causes hardship to the
assessee, the Board has intended that appellate orders by Commissioner of Income
Tax (Appeals) should be issued within 15 days of the last hearing. Any lapse on
this account shall be viewed adversely. The same is fully applicable to orders
passed by the CIT (Administration)/CCIT as regards matters within their purview
under varied Sections of Income Tax Act such as Sections 80G, 264, 263 or Orders
under Rule 86 of Second Schedule and under other allied direct taxes.
Instruction No. 19/2003 Dated
23.12.2003 : The Board in order to resolve queries on the scope of operation of
the above mentioned instructions clarified that the aforestated Instructions are
not retrospective in operation and are administrative in nature.
Instruction No. 18/2003 Dated
23.12.2003 : Having regard to the proposals to the Board for referring the
disputes between CBDT and PSUs to the Committee on Disputes, the Board has
desired that COD proposal forwarded to the Board should be accompanied with
twenty copies each of the documents viz referral notes, assessment orders,
CIT(A)'s orders, ITAT orders etc. Further, 20(twenty) copies of assessment
orders/CIT(A) orders/ITAT orders relating to the assessee in respect of any other
assessment years, or any other orders pointed out in the CIT(A)/ ITAT order,
including that of earlier years CIT(A) orders, which led to deciding the case
against the Department be also forwarded.
Instruction No. 17/2003 Dated
23.12.2003 : The Board has cleared that the concerned Chief Commissioners of
Income Tax/Director Generals of Income Tax(Inv) should invariably request the
ITAT for priority hearing of appeals wherever the demand in dispute is Rs 10
crores or more, for early resolution of the dispute as also recovery of the
disputed demand.
Notification No. 361/2003 Dated
31.12.2003 : M/s M P Birla Institute of Fundamental Research, Kolkata Approved
u/s 35(1)(ii)
Notification No. 360/2003 Dated
30.12.2003 : His Holiness the Dalai Lama's Charitable Trust, New Delhi"
Notified u/s 10(23C)(iv)
Notification No. 356/2003 Dated
19.12.2003 : Council for Leather Exports, Chennai Notified u/s 10(23C)(iv)
Notification No. 355/2003 Dated
19.12.2003 : Indian Women Scientist Association, Navi Mumbai Notified u/s
10(23C)(iv)
Notification No. 359/2003 Dated
19.12.2003 : Southern Health Improvement Samity, West Bengal Notified u/s
10(23C)(iv)
Notification No. 358/2003 Dated
19.12.2003 : Jallianwalla Bagh National Memorial Trust, Amritsar Notified u/s
10(23C)(iv)
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CBEC Excise Tariff
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Notification No. 03/2004 Dated
08.01.2004 : The Central Government has exempted all items of machinery,
including instruments, apparatus and appliances, auxiliary equipment and their
components/ parts required for setting up of water supply plants and Pipes
needed for delivery of water from its source to the plant and from there to the
storage facility, falling under the First Schedule to the Central Excise Tariff
Act, 1985, from whole of the duty of excise leviable thereon under the said
First Schedule, subject to the condition that a certificate issued by the
Collector/ Deputy Commissioner/ District Magistrate of the District in which the
project is located, is produced to the Deputy Commissioner of Central Excise or
the Assistant Commissioner of Central Excise, as the case may be, having
jurisdiction, to the effect that such goods are cleared for the intended use
specified above.
The notification has come into
force on the 9th day of January, 2004.
Notification No. 02/2004 Dated
08.01.2004 : In the said notification, in the Table :
(i)
against S.No. 261, for the entry in column (4), the entry "8%" has
been substituted
(ii) in
S.No. 262, the entry in column (3) has been substituted
(iii) S. No. 272 has also been
substituted
(iv) after S. No. 276, new S.
Nos. naming 277, 278 & 279 with entries related to them have been inserted.
This notification has come into
force on the 9th day of January, 2004
Circular No. 768/1/2004-CX
Dated 05.01.2004 : In order to remove deficiencies and inadequacies in the
manner of filing departmental appeals, an Expert Group was constituted to carry
out an in depth study of departmental procedures in appeal matters, and to find
out lacunae in dealing with appeal cases at all levels. The Group has made
specific recommendations on the subject and the Board has accepted most of the
said recommendations. Based on the Board's decision, guidelines have been issued
for strict compliance by the field formation in the manner of filing
Departmental Appeals.
Notification No. 01/2004 Dated
02.01.2004 : In the said notification,
(I) in the opening paragraph,-
(a) after clause (d) the
following clause has been inserted, namely:-
"(e) all goods specified in
the First Schedule to the Central Excise Tariff Act, 1985( 5 of 1986) , when
brought in for the purpose of trading by the trading units which were in
existence prior to the 31st March,2002 and having valid letter of permission to
continue under the Export Oriented Undertaking Scheme";
(b) after condition(6), a new
condition (7) has been inserted
(II) In the explanation, after
clause (vii), the following clause has been inserted, namely:-
(viia) merchant exporter˛
means a person engaged in trading activity and exporting goods
Notification No. 81/2003 Dated
31.12.2003 : In both the notifications common amendment has been made, according
to which in their paragraph 2, for the figures, letters and words 1st day of
January, 2004, the figures, letters and words 1st day of March, 2004 have been
substituted.
Circular No. 767/83/2003-CX
Dated 31.12.2003 : It has been clarified that as long as the apparel and
clothing accessories are made from knitted or crocheted pure cotton base
fabrics, the exemption would be available irrespective of use of non-cotton
textile materials for stitching, fastening, holding, adornment or labeling.
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CBEC Excise non Tariff
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Notification No. 1/2004 NT
Dated 08.01.2004 : . In the Central Excise Rules, 2002, after rule 16A, the
following rules have been inserted namely :-
'16B. Special procedure for
removal of semi-finished goods for certain purposes.- The Commissioner of
Central Excise may by special order and subject to conditions as may be
specified by the Commissioner of Central Excise, permit a manufacturer to remove
excisable goods which are in the nature of semi-finished goods, for carrying out
certain manufacturing processes, to some other premises and to bring back such
goods to his factory, without payment of duty, or to some other registered
premises and allow these goods to be removed on payment of duty or without
payment of duty for export from such other registered premises.
16C. Special procedure for
removal of excisable goods for carrying out tests.- The Commissioner of Central
Excise may, by special order and subject to such conditions as may be specified
by the Commissioner of Central Excise, permit a manufacturer to remove excisable
goods manufactured in his factory for carrying out tests to some other premises
and to bring back such goods to his factory, without payment of duty, or to some
other registered premises and allow these goods to be removed on payment of
duty, or without payment of duty for export from such other registered premises:
Provided that this rule shall
not apply to the goods known as "prototypes" which are sent out for trial or
development test.'.
They have come into force on
the 9th day of January, 2004.
Notification No. 85/2003 NT
Dated 31.12.2003 : In the said notification, for the figures, letters and words
1st day of January, 2004, the figures, letters and words 1st day of March, 2004
have been substituted.
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CBEC Customs Tariff
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Notification No. 16/2004 Dated
08.01.2004 : In the Project Import Regulations, 1986, in the Table, after Sr.
No.3B and the entries relating thereto, a new Sr. No. 3C and the entries related
to it has been inserted.
These amending regulations have
come into force on the 9th day of January, 2004
Notification No. 15/2004 Dated
08.01.2004 : In the said notification, after serial number 26 and the entries
relating thereto, the following serial number and the entries has been inserted,
namely:-
"26A. Water Supply Projects
Explanation.- Water Supply
Project includes a plant for desalination, demineralization or purification of
water or for carrying out any similar process or processes intended to make the
water fit for agricultural or industrial use.".
This notification shall come
into force on the 9th day of January, 2004.
Notification No. 14/2004 Dated
08.01.2004 : The Central Government has exempted Water Supply Projects, falling
under heading 9801 of the First Schedule to the Customs Tariff Act, 1975 (51 of
1975), from whole of the duty of customs leviable thereon under the said First
Schedule, and from whole of the additional duty leviable thereon under section 3
of the said Customs Tariff Act.
This notification has come into
force on the 9th day of January, 2004
Notification No. 13/2004 Dated
08.01.2004 : In the notification No. 137/90-Customs, dated the 20th March, 1990
:
a). in the opening paragraph ,
for the words brackets and figures " in column (2) of the Table" the words
,brackets, figure and letter "in column (2) of the each of TABLE-I and
TABLE-II" have been substituted.;
(b). in the portion beginning
with the words " from so much of the duty of Customs " and ending with the
words "following conditions, namely:-", for the words and figures " from
so much of the duty of Customs leviable thereon under the said First Schedule as
is in excess of the amount calculated at the rate of 30% ad valorem", the
following have been substituted , namely:-
" from the whole of the duty
of Customs leviable thereon under the said First Schedule in respect of goods
specified in column (2) of TABLE-I annexed hereto and from so much of the duty
of Customs leviable thereon under the said First Schedule as is in excess of the
amount calculated at the rate of 15% ad valorem in respect of goods specified in
column (2) of TABLE-II annexed hereto.";
(c) for TABLE annexed
therewith, the new TABLES have been substituted.
Notification No. 12/2004 Dated
08.01.2004 : In the notification No. 49/96-Customs, dated the 23rd July, 1996
,in the TABLE, against S.No.1, in column (2) , for the letters and figures "S.Nos.140",
the letters, figures, words and brackets "S.No.132, in column (3) at item No.
(1) (Cinematograph films, exposed but not developed) and S.Nos.140", have been
substituted.
This notification has come into
force on and from the 9th day of January 2004.
Notification No. 11/2004 Dated
08.01.2004 : The Central Government has exempted one laptop computer (notebook
computer) falling under tariff item 98030000 of the First Schedule to the
Customs Tariff Act, 1975 when imported into India by a passenger of the age of
18 years or above (other than member of crew ) from whole of the duty of Customs
leviable thereon under the First Schedule to the said Customs Tariff Act.
This notification has come into
force on and from the 9th day of January 2004.
Notification No. 10/2004 Dated
08.01.2004 : Amendments have been made in the Notification No. 26/95-Customs
& 28/95-Customs, both dated the 16th March, 1995
Notification No. 9/2004 Dated
08.01.2004 : In the notification No. 25/99-Customs, dated the 28th February,
1999 :
(A) in the opening paragraph,-
for the portion beginning with
the words "amount calculated at the rate of -," and ending with the words
and letter "specified in List C:", the following has been substituted,
namely:-
"amount calculated at the
rate of,-
(a) Nil in the case of the
imported goods specified in List A; and
(b) 5% ad valorem in the case
the imported goods specified in List B:";
(B) in the TABLE,-
(i) In LIST A, after S. No. 168
and entries relating thereto, new enties have been inserted with Sr. No. 169 to
223.
(ii) LIST C and the entries
relating there to have been omitted.
This notification has come into
force on the 9th day of January, 2004.
Notification No. 8/2004 Dated
08.01.2004 : In the notification No. 25/2002-Customs, dated the 1st March, 2002
:-
(A) in the opening paragraph,
for the words, figure and letters "from so much of that portion of the duty of
customs leviable thereon which is specified in the said First Schedule, as is in
excess of the amount calculated at the rate of 10% ad valorem", the words "from
the whole of the duty of customs leviable thereon which is specified in the said
First Schedule" have been substituted;
(B) in the TABLE, after S.No.27
and the entries relating thereto, new Sr. No. from 28 to 57 with entries related
to them have been inserted.
This notification has come into
force on the 9th day of January, 2004.
Reduction in Customs Duty
on Project Imports, Coal, Nickel, Cell Phones, Specified Drugs, IT Products,
Medical Equipment, Parts of artificial limbs/rehabilitation aids and Power
Transmission
Notification No. 7/2004 Dated
08.01.2004 : Customs duty has been reduced on the above mentioned products. To
bring this into effect necessary amendments have been made in the Notification
No. 21/2002-Customs, dated the 1st March, 2002. In the said notification,-
in the proviso, in clause (a),
for the figures, letters and words "1st day of April, 2004", the figures,
letters and words "1st day of April, 2005" have been substituted;
Table has also been amended.
This notification has come into
force on the 9th day of January, 2004.
Notification No. 6/2004 Dated
08.01.2004 : The Central Government has exempted all the goods covered in the
First Schedule to the said Customs Tariff Act, from the whole of the special
additional duty leviable under sub-section (1) of section 3A of the said Customs
Tariff Act.
This notification has come into
force on the 9th day of January, 2004.
Notification No. 5/2004 Dated
08.01.2004 : The Central Government has exempted or reduced, as the case may be,
goods falling under the Chapter, heading, sub-heading or tariff item of the
First Schedule to the Customs Tariff Act, 1975 ,when imported into India.
This notification has come into
force on the 9th day of January, 2004.
Notification No. 4/2004 Dated
07.01.2004 : In the said notification :-
(i) for the third proviso, the
following proviso has been substituted, namely:-
"Provided also that
nothing contained in this notification shall apply in respect of the goods
specified under serial No. 46D of the said Table on or after the 29th day of
February, 2004.";
(ii) in the Table,
(a) S. No.46C and the entries
in columns (2) to (4) have been omitted;
(b) after S. No. 46B and the
entries relating thereto, new S.No. 46D and entries have been inserted.
Notification No. 3/2004 Dated
07.01.2004 : In the said notification :-
(i) in the opening paragraph,
in the proviso, for clause (c), the following clause has been substituted,
namely:-
"(c) the goods specified
against serial No. 316D of the said Table on or after the 29th day of February,
2004.";
(ii) n the Table,
(a) S.No. 316C and the entries
in columns (2) to (6) have been omitted;
(b) after S. No. 316B and the
entries relating thereto, a new S.No. 316D and related entries have been
inserted.
Notification No. 02/2004 Dated
07.01.2004 : Anti Dumping Duty has been imposed on Borax Decahydrate From Turkey
and China PR
Circular No. 01/2004 Dated
05.01.2004 : After considering the decision of larger Bench of CESTAT in the
case of M/s Himalayan International Ltd Vs Commissioner of Central Excise,
Chandigarh the matter has been re-considered by the Board and it has been
decided to withdraw the Board's Circular No. 618/9/2002-CX dated 13-2-2002
wherein it was clarified that prior to 11-5-2001, the clearances from EOUs if
not allowed to be sold in India, shall continue to be chargeable to duty under
main section 3(1) of Central Excise Act, 1944.
It may also be kept in mind
that the duty on the finished goods, at the rate applicable under the proviso to
section 3(1) of the Central Excise Act, 1944 as also appropriate duty on the
bonded capital goods and raw material is paid before the unit is allowed to be
debonded.
Notification No. 1/2004 Dated
02.01.2004 : In the said notification,
(I) in the opening paragraph,
after clause (e) the Clause (f) has been inserted and after condition (12), a
new condition (13) has been inserted.
(II) In the explanation, after
clause (vii), the following clause has been inserted, namely :-
'(viia) `merchant exporter'
means a person engaged in trading activity and exporting goods.'
Notification No. 182/2003 Dated
31.12.2003 : In the said notification, in the paragraph 2, for the figures,
letters and words, 1st day of January, 2004 , the figures, letters and words 1st
day of March, 2004 have been substituted.
Notification No. 181/2003 Dated
31.12.2003 : In the said notification, in the paragraph 2, for the figures,
letters and words 1st day of January, 2004 , the figures, letters and words 1st
day of March, 2004 have been substituted.
Notification No. 180/2003 Dated
31.12.2003 : In the said notification, in the paragraph 2, for the figures,
letters and words 1st day of January, 2004, the figures, letters and words 1st
day of March, 2004 have been substituted.
Notification No. 179/2003 Dated
31.12.2003 : In the said notification, in the opening paragraph, in clause (a),
for the words "Bangladesh, Republic of Korea or Sri Lanka", the words "Bangladesh,
People's Republic of China, Republic of Korea or Sri Lanka" have been
substituted.
This notification has come into
force on the 1st day of January, 2004.
Circular No. 112/2003 Dated
31.12.2003 : The Board on acceptance the recommendation of the Tariff Conference
of Chief Commissioner of Customs cleared that the provisions of the notification
should be read with the provisions of the Indo-Nepal treaty. It has been
accordingly clarified that in the case of imports from Nepal under claim of
Notification 6/2002-C.E., which exempts copper producers from additional customs
duty only if the manufacturer of such goods produces or manufactures copper from
raw material other than copper ore or copper concentrate, Sl. No. 181, benefit
can be extended on the basis of a declaration by the manufacturing company in
Nepal.
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CBEC Customs Non Tariff
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Notification No. 5/2004-N.T.
Dated 08.01.2004 : The Baggage Rules, 1998 have been amended. the amendments
have been made in or under Rule 10, Appendix C, Appendix F, Annex I, Annex II.
The amendments has come into force on and from the 9th day of January , 2004.
Notification No. 4/2004-N.T.
Dated 05.01.2004 : In the said notification, Sl. No. 19 and the entries relating
thereto has been substituted.
Notification No. 3/2004-N.T.
Dated 05.01.2004 : In the said notification, for Sl. No. 2 and the entries
relating thereto, new entries have been substituted.
Notification No. 2/2004-N.T.
Dated 02.01.2004 : The Central Board of Excise and Customs has appointed the
Commissioner of Customs, Inland Container Depot, Tughlakabad, New Delhi to
adjudicate the matter relating to SHOW CAUSE NOTICE pertaining to M/s. Gaitri
Exports, 33, Vasudha Enclave, Pitampura, New Delhi - 34 issued vide DRI.F. No.
50D/115/2001, dated the 30th September, 2003 by the Deputy Director, Directorate
of Revenue Intelligence, (Headquarters), New Delhi.
Notification No. 1/2004-N.T.
Dated 02.01.2004 : In the Table to the said notification, against serial number
11 relating to the State of Tamil Nadu, after entry (vi) in column (3) and the
corresponding entries relating thereto in column (4), a new entry with serial
number (vii) and the entries related to it has been inserted.
Notification No. 119/2003-N.T.
Dated 31.12.2003 : In the Special Economic Zones (Customs Procedures)
Regulations, 2003, in regulation 1, in sub-regulation (3), for the figures,
letters and words "1st day of January, 2004", the figures, letters and
words "1st day of March. 2004" have been substituted.
Notification No. 118/2003-N.T.
Dated 31.12.2003 : In the Special Economic Zones Rules, 2003, in rule 1, in
sub-rule (2), for the figures, letters and words "1st day of January, 2004
", the figures, letters and words "1st day of March, 2004 " have
been substituted.
Notification No. 117/2003-N.T.
Dated 31.12.2003 : Amendments have been made in the notifications No. 44/2003 to
51/2003, 60/2003 and 61/2003. In all these notifications in their paragraph 2,
for the figures, letters and words "1st day of January, 2004", the
figures, letters and words "1st day of March, 2004 " have been
substituted.
Notification No. 116/2003-N.T.
Dated 31.12.2003 : In the said notification, for the figures, letters and words
"1st day of January, 2004", the figures, letters and words "1st
day of March, 2004" have been substituted.
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Service Tax
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Circular No. 73/3/2004 Dated
05.01.2004 : It has already been clarified through CBEC Circular no.
48/10/2002-ST dated 13.9.2002 that Adhatiya's (Food grain agents) activity do
not fall under the scope of Clearing and Forwarding Agents services and hence
would not be liable for Service Tax under this category. However, the activity
of grain agent is covered under the 'Commission Agent' falling under the purview
of 'Business Auxiliary Services', which has come into force from 1st July, 2003.
Commission Agents as per the definition are covered under the Notification No
13/2003-ST dated 20th June 2003 and are exempted from Service Tax.
Circular No. 72/2/2004 Dated
02.01.2004 : It has been clarified that in respect of all the taxable services
that only a single registration for all the taxable services provided by the
service provider and also a single return where an assessee provides more than
one taxable service is sufficient. Similarly, the declaration submitted at the
time of registration in the application for registration (ST-1) shall be
accepted by the jurisdictional Superintendent of Central Excise and the
registration must be given immediately but within seven days in any case.
Circular No. 71/1/2004 Dated
02.01.2004 : It has been decided by the Board to extend -filing of ST-3 returns
of Service Tax facility to all 58 taxable services with immediate effect which
was earlier available only in respect of 10 (ten) select class or group of
service tax providers.
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Department of Economic Affairs
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Notification No. SO8(E) Dated
01.01.2004 : The Central Government has issued General Insurance Employees'
Special Voluntary Retirement Scheme, 2004 which has become effective from the
date of its publication in the Official Gazette i.e. 01.01.2004.
Notification No. SO7(E) Dated
01.01.2004 : The Central Government has issued General Insurance Officer's
Special Voluntary Retirement Scheme, 2004 which has become effective from the
date of its publication in the Official Gazette i.e. 01.01.2004.
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RBI
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Notification No. DBOD No. Dir.
BC. 61/13.07.05/2003-04 Dated 03.01.2004 : It has been decided to raise the
margin of 40 per cent on all advances against shares / financing of IPOs / issue
of guarantees to 50 per cent with immediate effect. A minimum cash margin of 25
per cent (within the margin of 50 per cent) shall be maintained in respect of
guarantees issued by banks for capital market operations. The above margin of 50
per cent shall apply to all fresh advances / guarantees issued. The existing
advances / guarantees issued may continue at the earlier margins until they come
up for renewal.
Notification No.
DBOD.No.Leg.BC.60 /09.07.005/2003-04 Dated 27.12.2003 : In order to support
broad-based improvement in customer services in relation to various banking
services, each bank has been advised to constitute an Ad hoc Committee to
undertake procedures and performance audit on public services rendered by it.
While the Ad hoc Committees of banks would function for a period of one year,
they would be expected to complete the work within six months and submit reports
to the Reserve Bank of India to enable the Committee set up by it under the
Chairmanship of Dr. S.S.Tarapore to review the existing policies and procedures
for further necessary action.
Banks have also been advised to
nominate one of its Officers as a nodal officer to serve as a contact point with
the RBI Committee and furnish us with his name, designation, telephone numbers
(office as well as residence), fax number and e-mail address.
Notification No. DNBS (PD) CC
No.34/10.01/2003-04 Dated 06.01.2004 : RBI has issued the guidelines namely "Know
Your Customer" Guidelines for NBFCs. These guidelines are relating to
identification of depositors.
Press Release No. 2003-2004/842
Dated 08.01.2004 : All the State Governments except Uttaranchal will be raising
market borrowings for Rs. 6000 crore under Debt Swap Scheme and about Rs.2000
crore as a part of regular market borrowings, thus aggregating about Rs.8000
crore on January 19, 2004 by way of tap sale.
Press Release No. 2003-2004/841
Dated 08.01.2004 : The Reserve Bank of India has reiterated that stapling of
note packets had been totally banned and no bank or bank branch should issue or
accept note packets in stapled condition. It has added that in case any bank or
bank branch was found issuing or accepting note packets in stapled condition, it
would be liable to be penalised under the existing provisions of the Banking
Regulation Act, 1949.
Press Release No. 2003-2004/840
Dated 08.01.2004 : The Reserve Bank of India has notified on January 8, 2004
that Non-Residents of Indian Nationality/Origin (NRIs/PIOs) can now purchase
equity shares and convertible debentures of HEG Ltd., up to 24 per cent of its
paid up capital through Stock Exchanges in India under Portfolio Investment
Scheme (PIS), as the company has passed a resolution at its General Body
Meeting.
Press Release No. 2003-2004/828
Dated 06.01.2004 : The Reserve Bank of India has issued Know Your Customer (KYC)
guidelines for non-banking financial companies (NBFCs). The boards of directors
of the NBFCs have been advised to formulate policies and procedures to
operationalise and ensure the observance of these guidelines in respect of all
new customers.
The NBFCs have also been
advised to complete the identification process in respect of the existing
customers by June 30, 2004. These guidelines are applicable to all NBFCs
including Miscellaneous Non-Banking Companies (Chit Fund Companies) and
Residuary Non-Banking Companies and come into effect immediately.
Press Release No. 2003-2004/820
Dated 03.01.2004 : The Reserve Bank of India has asked banks to raise the margin
on all advances against shares/financing of Initial Public Offerings (IPOs) and
issue of guarantees to 50 per cent with immediate effect. It has also asked
banks to raise the minimum cash margin in respect of guarantees issued by banks
for capital market operations to 25 per cent (within the margin of 50 per cent).
Press Release No. 2003-2004/791
Dated 29.12.2003 : The rate of interest on the Floating Rate Bonds, 2017 (FRB,
2017) applicable for the half-year (January 2, 2004 to July 1, 2004) has been
announced by the RBI. The rate of interest shall be 4.77 per cent per annum.
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DGFT
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Public Notice No.
37(RE-03)/2002-07 Dated 05.01.2004 : In exercise of powers conferred under
paragraph 2.4 of the Export and Import Policy, 2002-07 and paragraph 1.1 of
Handbook of Procedures (Vol.I), the Director General of Foreign Trade has made
the addition/correction / amendment in the book titled "Schedule of DEPB
Rates"
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Department of Commerce
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Notification No 14/50/2002-DGAD
Dated 24.12.2003 : Anti-dumping Investigation Concerning Import of Green Veneer
Tape Originating in or Exported from Chinese Taipei--Final Findings
Notification No.
14/22/2003-DGAD Dated 23.12.2003 : Anti-dumping Investigations have been
initiated against Imports of Mica Pearl Pigment from China PR, Japan, USA and EU
Notification No.
14/43/2002-DGAD Dated 22.12.2003 Anti Dumping Investigations Concerning Review
of Anti-dumping Duty on Imports of EPM (Ethylene Propylene Rubber) and EPDM
(Ethylene Propylene Diene Rubber) From Korea RP - Final Findings
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Ministry of Personnel,
Public Grievances and Pension |
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Notification No. SO1487(E)
Dated 30.12.2003 : In the Central Civil Services (Extraordinary Pension) Rules,
1939, in rule 2, before the Note, the following proviso has been inserted,
namely: --
"Provided also that
nothing contained in these rates shall apply to Government servant appointed on
or after the 1st day of January, 2004."
The Rules making the
aforestated insertion have been made effective from 1st of January, 2004.
Notification No. SO1486(E)
Dated 30.12.2003 : In the Contributory Provident Fund Rules (India), 1962, in
rule 4, in sub-rule (1), before the Note, the following proviso has been
inserted, namely: -
"Provided also that
nothing contained in those rules shall apply to Government servant appointed on
or after the 1st day of January, 2004.".
The Rules making the
aforestated amendment have been made effective from 1st of January, 2004.
Notification No. SO1485(E)
Dated 30.12.2003 : In the General Provident Fund (Central Services) Rules, 1960,
in rule 4, before the Explanation, the following has been inserted, namely: -
"Provided also that
nothing contained in these rules shall apply to Government servant appointed on
or after the 1st day of January, 2004.".
The Rules making the
aforestated amendment have been made effective from 1st of January, 2004.
Notification No. SO1484(E)
Dated 30.12.2003 : In rule 2 of the Central Civil Service (Commutation of
Pension) Rules, 1981, for the words "These rules shall apply to Government
servants", the words, figures and letters "These rules shall apply to
Government servant appointed on or before the 31st day of December, 2003"
have been substituted.
The Rules making the
aforestated substitution have been made effective from 1st of January, 2004.
Notification No. SO1483(E)
Dated 30.12.2003 : In rule 2 of the Central Civil Service (Pension) Rules, 1972,
for the words "these rules shall apply to Government servants", the
words, figures and letters "these rules shall apply to Government servant
appointed on or before the 31st day of December, 2003" have been
substituted.
The Rules making the
aforestated substitution have been made effective from 1st of January, 2004.
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Ministry of Power |
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Order No SO1463(E) Dated
24.12.2003 : Power Grid Corporation of India Limited, having its registered
office at B-9, Qutab Institutional Area, Katwaria Sarai, New Delhi has bee
authorized to exercise all the powers vested in the Telegraph Authority under
Part III of the Indian Telegraph Act, 1885, in respect of the electrical lines
and electrical plant established or maintained, or to be so established or
maintained for the transmission of electricity or for the purpose of telephonic
or telegraphic communication necessary for the proper coordination of the works.
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Press Information Bureau
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Dated 08.01.2004 : Government
have decided to make certain changes, which take effect from 9th January, 2004,
in the rates of indirect taxes. Relaxations have been provided either through
exemption from the duty or reduction in the rates of duty. Relaxations have been
extended to Power sector Information Technology, Health, Civil Aviation,
Medical, Water Supply, Electronics.
Dated 08.01.2004 : Government
has simplified the procedures under Direct Taxes which will be implemented from
April 1, 2004. The main relaxations are:-
(i) No filing of returns for
employees having salary income upto Rs. 1,50,000;
(ii) Pensioners to be exempt
from the purview of one-by-six scheme;
(iii) For perquisite valuation,
rates of interest for housing loans etc., to be reduced, to bring them in line
with the prevailing market rates;
(iv) there will be just one
certificate from the Assessing Officer for no tax deduction at source (TDS) in
case of tax exempt entities like trusts etc;
(v) Infrastructure projects to
be granted one time approval for purpose of exemption under section 10(23G).
Apart from that some
administrative measures are also proposed for a taxpayer friendly regime.
Dated 08.01.2004 : In a bid to
further modernize and simplify the administration of Service Tax, the Ministry
of Finance has clarified that
1. E-filing of returns has been
allowed in respect of all the 58 taxable services. This facility till now has
been available in respect of only ten services.
2. Single registration and
single return will suffice in case of a service provider who is providing more
than one taxable service.
3. Process of registration for
service tax has been further simplified and registration will be granted after
simple verification of the application made.
Dated 08.01.2004 : The Minister
of Law and Justice, Shri Arun Jaitley, has written letters along with the copies
of the Constitution (Ninety-first Amendment) Act, 2003 and the Notification
dated the January 7 2004, to the Chief Ministers of all States to bring the size
of the Council of Ministers in conformity with the provisions of the newly
inserted clause (1A) in article 164 of the Constitution within six months if the
total number of Ministers exceeds the said limit.
Dated 07.01.2004 : The Cabinet
has approved the proposal of the Department of Commerce for enactment of a
Central legislation on Special Economic Zones (SEZs) to provide internationally
competitive duty free environment for promotion of exports.
Dated 05.01.2004 : Shri B.L.
Bajaj has been appointed Director (Finance) in the National Buildings
Construction Corporation LTD. (NBCC), a public sector undertaking under the
Ministry of Urban Development and Poverty Alleviation, for a period of five
years. Shri Bajaj was earlier Additional General Manager (Finance) in the
National Thermal Power Corporation (NTPC)
Dated 01.01.2004 : Amendments
have been made to the FCCB guidelines according to which :-
(i) All FCCBs shall be subject
to the following revised maximum, spreads over six months LIBOR
(ii) FCCBs for meeting rupee
expenditure under automatic route to be hedged unless there is a natural hedge
in the form of uncovered foreign exchange receivables, which will be ensured by
Authorised Dealers (Ads).
(iii) FCCBs exceeding USD 50
million would be permitted for the following end uses only (a) Financing import
of equipment and (b) Foreign exchange needs of infrastructure projects.
(iv) No financial intermediary
(viz. a bank, DFI, or NBFC) will be allowed access to FCCBs or to provide
guarantees.
(v) FCCBs pending utilization
would need to be parked overseas.
The above amendments to the
FCCB guidelines will come into force from the date of issue of Notification of
regulations/directions.
Dated 01.01.2004 : The interim
Pension Fund Regulatory and Development Authority (PFRDA) has started
functioning from 01.01.2004 and held its first meeting under the chairmanship of
Shri Vinod Rai on 1st January 2004. It was decided that until the full system is
operational, all contributions under the new pension system, which is applicable
to new recruits to Central Government service, shall be credited into the public
accounts and an appropriate rate of return shall be given on these balances in
consultation with the Government
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Supreme Court |
- State of Punjab Vs. Bhag Singh
The subject matter of challenge
before Hon'ble Supreme Court, was not giving of any reasons for
refusing to grant leave to file appeal against question of acquittal of
accused facing trial under Section 18 of the Narcotics Drugs and
Psychotropic Substances Act, 1985 in terms of Section 378 (3) of the
Code of Criminal Procedure, 1973. A one-line order by High Court i.e.
"No merit. Dismissed" pronounced without assigning reasons
therefor was challenged on ground that such order does not meet the
requirements of law.
Supreme Court held that
"failure to give reasons amounts to denial of justice". Not
only does delayed justice amount to justice denied, but delayed
judgment also amounts to justice being denied. Apex court clarified
that right to reason is an indispensable part of a sound judicial
system, reasons at least sufficient to indicate an application of mind
to the matter before Court. Recalling Lord Denning's words in respect
of administrative orders, the Bench said: "The giving of reasons
is one of the fundamentals of good administration." Apex Court
further held that on plainest consideration of justice, the High Court
ought to have set forth its reasons, howsoever brief, in its order
indicative of an application of its mind, all the more when its order
is amenable to further avenue of challenge.
- Jai Durga Finvest Pvt. Ltd. Vs. State of
Haryana and Ors.
There was auction for grant of
mining operation i.e. for extraction of mineral sand in Haryana and the
appellant company was the highest bidder. Its bid was accepted and
pursuant to and in furtherance thereof, the Company and the State
Government entered into an agreement and appellant deposited a
considerable sum as security. Payment of compensation for the
landowners was one of the terms of the contract. When the company
approached the landowners of village for settlement of compensation,
they did not accede for the compensation amount. The Company asked the
State to get the amount of compensation determined by the District
Collector. But there was no response. The company could not extract
sand even for a day because of the non-co-operation of authorities;
they terminated the contract for not fully paying the contracted
amount. Appellant preferred an appeal, which was partly allowed by the
Appellate Authority but it was ruled that since the company entered
into the contract voluntarily, it should abide by its terms. The
company then moved the Supreme Court.
The Supreme Court held that if
the Government could not comply with its obligations of a mining lease,
the mining company should not be burdened with forfeiture of deposit
and payment of interest. The Apex Court said the High Court has merely
proceeded on the basis that the appellant Company had entered into the
contract with his eyes wide open, but, the same would not, mean that
they were bound to pay the contract amount, get its security amount
forfeited, as also pay interest at the rate of 24 per cent, although it
could not, by reason of acts of omission and commission on the part of
the respondents, carry out the mining operation as per the terms of the
agreement - Appeal Allowed.
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