"20 July 1999" Archive

Penalty on Declaration of additional income to buy peace with Department?

Commissioner Of Income-Tax vs Suresh Chandra Mittal (MP High Court)

Shorn of all details, it emerges that the assessee first filed his returns for the assessment years 1983-84, 1984-85, 1985-86 and 1986-87 showing income ranging between Rs. 10,000 and Rs. 12,000. Later action under Section 132 was taken against him which led to reopening of the assessment. A notice under Section 148 was served on him...

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Circular No. 471/37/99-Central Excise Dated 20.7.1999

Circular No. 471/37/99-Central Excise (20/07/1999)

Circular No. 471/37/99-CX I am directed to say that difficulty had arisen for the manufacturers of goods specified under Chapters 61 & 62 of the Central Excise Tariff Act where rate of duty is NIL or the goods are exempted, especially the garment manufacturers primarily engaged in the manufacture / production for exports. These manufactu...

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