"October, 1991" Archive

Modi Cement Limited v. Union of India (Delhi High Court) (1992) 193 ITR 91

Modi Cements Ltd Vs Union Of India And Others (Delhi High Court)

Enactment of new provisions in the Income-tax Act, 1961, instead of reducing more than not, increases litigation This is either because of the ambiguity or lack of clarity in the provision enacted or the manner in which the newly enacted provision is applied The present case falls in the second category as we shall presently see...

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The notification exempts specified goods exported by 100% EOU operating in EHTP and STP

Notification No. 140/1991-Customs (22/10/1991)

Provided that both supplying and receiving unit shall maintain account for the quantity of consumables and raw materials used in generation of each unit of power so transferred as quantified on the basis of norms approved by the said Board of Approval, for the purpose of calculation of Net Foreign Exchange earning as a Percentage of Expor...

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The notification exempts specified goods exported by 100% EOU operating in EHTP and STP

Notification No. 138/1991-Customs (22/10/1991)

With effect from 13th August, 1993, the consultancy fees received by software development units in convertible foreign currencies for consultancy services for development of software "on site" abroad shall be deemed to be exports for the purposes of fulfilment of export obligation under this notification....

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