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Notification No. S.O.1142-Income Tax In exercise of the powers conferred by clause (22B) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the Press Trust of India Ltd., New Delhi, as a news agency set up in India soley for collection and distribution of news for the purposes of the said clause for the assessement years 1994-95, 1995-96 and 1996-97.
Circular No. 77/77/94-CX It has been brought to the notice of the Board that scrap generated by breaking of a ship etc. is not being allowed deemed modvat credit by certain field informations. The ship-breakers have also represented to the Board
the unit shall be required to have a premise(s) duly bonded under section 58 of the said Customs Act, for storage, of imported or domestically procured inputs and capital equipment and, of final products manufactured or produced therefrom.
