A Compendium of Guidelines, circulars, instructions to merchant bankers relating to issue of capital, issued from time to time by the Primary Market Department, has been placed on the SEBI web site today.
Notification No. 11207-Income Tax It is notified for general information that undertaking, listed at para (3) below have been approved by the Central Government for the purpose of section 10(23G) of the Income-tax Act, 1961 read with rule 2E of the Income-tax Rules, 1962 for the assessment years 2000-2001, 2001-2002 and 2002-2003.
Notification No. 11208-Income Tax It is notified for general information that M/s Delhi Financial Corporation, Delhi has been approved by the Central Government as a Corporation engaged for providing long-term finance of industrial development in the country for the purposes of section 36(1)(viii) of the Income-tax Act, 1961, for the assessment year 1999-2000. 2. The approval is subject to the condition
Notification No. 11209-Income Tax It is notified for general information that enterprises/industrial undertakings, listed at para (3) below have been approved by the Central Government for the purpose of section 10(23G) of the Income-tax Act, 1961, read with rule 2E of the Income-tax Rules, 1962, for the assessment years 1999-2000, 2000-2001 and 2001-2002.
Circular No. 509/05/2000-CX It is directed to enclose a copy of Supreme Court Judgement dt. 24.9.99 in the case of M/s Vimal Printery and others. As is evident from the judgement our civil appeal No. D. No. 8814/99 has been dismissed on the ground of delay as well as on merit. The issue involved in this case was whether the party is entitled to the benefit of exemption notification for small scale industry under Notification No. 175/86 dt. 1.3.86 on the grounds that the raw material namely “duplex board” supplied by M/s ITC Ltd.
Regulation 18(4) (f) makes it obligatory upon the trustees to ensure that before the launch of any scheme the asset management company has prepared a compliance manual and designed internal control mechanisms including internal audit systems.
In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excise Act, 1944 (1 to 1944), read with sub-section (3) of section 3 of the Additional Duties of Excise (Goods of Special Importance) Act, 1957 (58 of 1957), the Central Government being satisfied that it is necessary in the public interest so to do, hereby directs that each of the notifications of the Government of India in the Ministry of Finance.
Circular No. 508/04/2000-CX It is directed to say that a doubt has arisen whether merchant-exporters can file claims of rebate of central excise duty paid on ingots and billets of non-alloy steel and hot-re-rolled products of non-alloy steel notified under section 3A of the Central Excise Act, 1944
Attention is invited to Public Notice No. 33 dated 01.10.99 which allows the competent authority to issue EPCG licences to the applicant on the basis of fixation of nexus by Hqrs, EPCG Committee. It has come to the notice of Directorate General of Foreign Trade that the request for all kinds of amendment are made to HQ, EPCG Committee in respect of licenses issued by RLA/ZLA. Many such amendments are or minor nature and referring such cases to Hqrs may result into delay in import or clearance of the capital goods.
In exercise of the powers conferred by Sub-section (1) of Section 4 of the Customs Act, 1962 (52 of 1962), the Central Government hereby appoints the Commissioner of Customs, Jaipur to be the Commissioner of Customs, to exercise the powers of the
