Explanation : for the purpose of this clause a public shareholder shall mean a person who is neither a promoter nor does he hold more than 1% equity capital of the company”.
I am directed to refer to the instructions issued by the Board vide circular No. 68/95 dated 15th June, 1995 (F. No. 473/61/94-LC) and to say that a doubt has arisen whether the applications for grant of licences to private bonded warehouses may be granted even though, if violations committed by the party does not come within the exact ambit/ frame work of five years in terms of the aforesaid
Circular No. 211/45/96-CX Attention is invited to the Board”s Circular No. 179/13/96-CX dated 29.2.1996 providing for the facility for the endorsement of Bill of Entry where the Bill of Entry is in the name of the Registered Officer/ Head Office but the credit is to be availed by the manufacturing unit.
It has been observed while processing the application that the Sub-brokers are still making incomplete applications, which is causing unnecessary delay in process of registration.
I am directed to refer to the Ministry Circular No. 126/95 of even No. dated 12.12.95, on the above subject and to say that on re-examination of the said instructions it has been decided by the Board that sub-para (b) of para 2 of the said circular will be substituted as below
Circular No. 210/44/96-CX I am directed to say that under Notification No. 373/86-CE dated 29.7.86 and subsequent Notification No. 48/94-CE dated 1.3.94, Television Chassis (Populated Printed Circuit Board) is exempt from payment of Central Excise duty provided that such TV. chassis is used in the manufacture of Black & White TV and where such use is else where than the factory of production
I am directed to refer to letter No. 95/ CONCOR dated 2.2.96 from G.M.CONCOR addressed to Member (Customs) for permission for transhipment of import containers form Jawahar Customs House to CFS (Import) Mulund, Bombay. The matter was examined in Board’s officer and it was observed that the
Notification No. S.O.1471-Income Tax It is notified for general information that M/s. Power Finance Corporation Ltd., New Delhi, have been approved by the Central Government as company for the purposes of section 36(1)(viii) of the Income-tax Act, 1961, for the assessment years 1996-97 and 1998-99.
Circular No. 744-Income Tax Board’s Circular No. 719 [F. No. 275/206/95-IT(B)], dated 22-8-1995 states that where the head office or the branch office is already filing the returns under section 206, no other Assessing Officer shall require the assessee to file such return with him.
Circular No. 743-Income Tax Under sections 54, 54B, 54D, 54F and 54G of the Income-tax Act, 1961, capital gain is not chargeable to tax if the amount of capital gain or net consideration has been utilised for specified purposes by the assessee within the stipulated period laid down in the relevant section. These provisions also provide for the deposit in specified Banks, etc.
