Join our free webinar on July 7 at 5 PM for insights into 10 recent High Court income tax judgments favoring assessees. Expert analysis by CA Dipak Dama.
Circular No. 560/56/2000-CX I am directed to invite your attention to Board’s Circular No. 413/46/98-CX., dated 6-8-1998 [See 1998 (102) E.L.T. (T31)] issued from F. No. 390/120/98-JC requiring the Commissioners to themselves examine the authorisation letters issued by them so that there is no occasion for CEGAT to dismiss the revenue appeals on technical ground. In spite of the above, it has come to the notice of Board that departmental appeals continue to be dismissed on the ground that there was no proper authorisation by the concerned Commissioner.
Circular No. 559/55/2000-CX M/s. Surya Roshni Ltd. situated in jurisdiction of C.C.E., Meerut-II is engaged in the manufacture of electric bulbs and tubes. The bulbs and tubes are sold FOR Destination. The price charged includes 2% towards transit risk insurance. For the purpose of the determination of the assessable value of bulbs and tubes, the assessee claimed a deduction on account of equalised freight based on the aggregate of transportation charges, insurance charges, octroi and taxes.
Notification No. 11568/2000-Income Tax In exercise of the powers conferred by clause (23) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the “Panjim Gymkhana, Goa” for the purpose of the said clause for assessment years 1996-97 to 1998-99 subject to the following conditions
Notification No. 11568/2000-Income Tax In exercise of the powers conferred by clause (23) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Panjim Gymkhana, Goa, for the purpose of the said clause for the assessment years 1996-97 to 1998-99 subject to the following conditions
Recently, a large case of drawback fraud has been detected at Nhava Sheva Port. In this case the exporter had attempted to export old and used garments and carpet cutting left overs, mainly with the intention to claim undue drawback. On investigation, it was found that some garments Mere at such small size as can be used only for dolls and even these were made of old and used sarees. some of the
A large number of exporters and export promotion councils have brought to thenotice of the Board that. there is considerable delay in verification of DEPB scrips at the Custom Houses. This issue has also been brought up repeatedly in all the Open Houses wherein the exporters have expressed their resentment regarding such delay and the require«ent to produce all the necessary documents required
The issue of detection of export frauds has continuously engaged the attention of the Board. Recently, ICD, Tughlakabad has detected large number of cases of which the illustrative ones have been reported to the Board vide Commissioner, ICD, Delhi”s D.0. letter C.No.VIII(ICD)6/TKD/E.Shed/Misc./720/2000/22l46 16th November,2000. On this letter. Chairman, CBEC has observed as under
The SEBI Board had considered the proposal of offering securities in public issues through the stock exchange mechanism and after considering the advantages of the system, approved the proposal.
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