"29 July 1997" Archive

National Rayon Corporation Vs. Commissioner of Income Tax (1997) 227 ITR 764 (SC)

National Rayon Corporation Ltd. Vs. The Commissioner Of Income Tax (Supreme Court of India)

SEN, J. The point that falls for determination in this case is whether a sum of Rs. 79 lakhs representing Debenture Redemption Reserve was includible in computing the capital of the assessee Company for the purpose of Companies (Profits) Surtax Act, 1964. The High Court took the view that the amount set apart to redeem the debentures ha...

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Trade Notice No. 58 CE (Service Tax)/97 Dated 29.07.1997

TRADE NOTICE No. 58 CE (Service Tax)/97 29/07/1997

The Trade is hereby informed that levy of Service Tax on the services rendered by Outdoor Caterers & Pandal or Shaminan Contractors will come into force from 1.8.97 (Notification No. 28/97-Service Tax dt. 28.7.97). The rate of service tax is 5% in case of both the above services. In the case of services rendered by Outdoor Caterers the...

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DEPB – Import can be made at any of four ports even if registration is at one port under TRA system

Circular No. 28/97-Custom Duty 29/07/1997

Duty Exemption Pass-Book Scheme (DEPB) allows import and export only from the port of registration. In other words, both import and export have to be made from the same port. This is also provided in para 6 of Board's Circular No. 10/ 97-Cus dated 17.4.1997....

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