Notification No.S.O.252(E) – Income Tax In exercise of the powers conferred by sub-section (1) of section 54EB of the Income-tax Act 1961 (43 of 1961), the Central Board of Direct Taxes hereby specifies the following assets, referred to as the long-term specified assets, for the purposes of the said section
Notification No.S.O.251(E) – Income Tax In exercise of the powers conferred by sub-section (1) of section 54EA of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby specifies the following bonds and equity shares for the purposes of the said section, namely:
Circular No. 308/24/97-CX I amd directed to say that certain doubts have been expressed as to whether the process of putting together a number of duty paid articles into a container like carton, kit etc. to be marketed as Cable Jointing Kits would amount of manufacture or not. In this process either the duty paid articles are procured entirely from the open market or some articles are manufactured by kitters and others are bought out. these articles are then put into a container like box, kit etc.
