Circular No. 295/11/97-CX I am directed to invite your kind attention to Board”s circular No. 5/83-CX.6 dated 10.3.83 issued from file No. 210/28/81-CX-6 (copy enclosed)1 and to say that instances have come to notice of failure to issue protective demands on receipt of audit objections. Instances are also coming to notice when demands are being held as time barred in adjudication and appellate proceedings. Basically, in such cases there is delay in issuing show cause notices leading to demands becoming time barred and consequential revenue loss.
Circular No. 751-Income Tax This scheme shall be called the Securities Lending Scheme, 1997
Circular No. 301/17/97-CX Representations have been revived in the Board regarding the denial of Modvat credit on inputs like chemicals and resins etc., used in the manufacture of sand moulds for subsequent production of iron castings.
