How to stop the !New tag from appearing when you add items to your SharePoint Team Services and SharePoint Services Web site

To stop the !New tag from appearing for new entries on your Windows SharePoint Services Web site, follow these steps, as appropriate for your version of SharePoint Services.

Windows SharePoint Services 3.0 Web site

To stop the !New tag from appearing next to new entries on a Windows SharePoint Services 3.0 Web site, use the Stsadm.exe tool to change the "Days to Show New Icon" property to zero. 

To do this, follow these steps:

1. Click Start, point to All Programs, point to Accessories, and then click Command Prompt.
2. Type the following commands, and then press ENTER after each command:
   cd /d %programfiles%\Common Files\Microsoft Shared\Web Server Extensions\12\BIN
   stsadm.exe -o setproperty -pn days-to-show-new-icon -pv 0 -url [Your Virtual Server's URL]

Windows SharePoint Services Web site

To stop the !New tag from appearing next to new entries on a Windows SharePoint Services Web site, use the Stsadm.exe tool to change the "Days to Show New Icon" property to zero. 

To do this, follow these steps:

1. Click Start, point to All Programs, point to Accessories, and then click Command Prompt.
2. Type the following commands, and then press ENTER after each command:
   cd /d %programfiles%\Common Files\Microsoft Shared\Web Server Extensions\60\BIN
   stsadm.exe -o setproperty -pn days-to-show-new-icon -pv 0 -url [Your Virtual Server's URL]

SharePoint Team Services Web site

To stop the !New tag from appearing next to new entries on a SharePoint Team Services Web site, use the Owsadm.exe tool to change the "New Item Display Cutoff" property to zero.

To do this, follow these steps:

1. Click Start, point to All Programs, point to Accessories, and then click Command Prompt.
2. Type the following commands, and then press ENTER after each command:
   cd /d %programfiles%\Common Files\Microsoft Shared\Web Server Extensions\50\BIN
   owsadm.exe -o setproperty -pn NewItemDisplayCutoff -pv 0 -p [Your Virtual Server's Port]
   
   
   Source : msdn