"June, 2002" Archive

Search and Seizure– Latest on Block Assessment– Chapter XIV-B of IT Act, 1961

Chapter XIII of the Income-Tax Act, 1961 (the Act), deals with “Income-Tax Authorities”. Part –‘C’ of this Chapter deals with “Powers” of the income-tax authorities. Section (‘S.’ for short) 131 deals with “Power regarding discovery, production of evidence, etc.”. Section 132 deals with “Search and seizure”. Sect...

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Circular No. 3/2002-Income Tax Dated 28-6-2002

Circular No. 3/2002-Income Tax 28/06/2002

Circular No. 3 of 2002-Income Tax Representations have been received for grant of exemption from the requirement of deduction of income-tax at source under sections 193, 194A and 194K of the Income-tax Act on the payment of incomes to Ramakrishna Math and Ramakrishna Mission whose income is exempt under sub-clause (iv) of section 10(23C) ...

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Appoints Director General (Specific Safeguard)

Notification No. 42/2002-Customs (N.T.) 28/06/2002

In exercise of the powers conferred by sub-rule (1) of rule 3 of the Customs Tariff (Transitional Product Specific Safeguard Duty) Rules, 2002, the Central Government hereby appoints Shri R. K. Gupta, Commissioner of Customs (General), New Delhi as the Director General (Specific Safeguard) for the purposes of the said rules....

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New EXIM Policy 2002-2007 and Handbook of Procedures, 2002- 2007. Amendments in the Provisions Relating to Gem & Jewellery Export Promotion Schemes- Reg

Circular No. 37/2002-Custom Duty 28/06/2002

At present, notification No. 42/99-Cus dated 28-4-99 allows import of cut & polished diamonds and gemstones up to 5% of the FOB value of the preceding financial year's....

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Notification No. 9 (RE-2002) 2002-2007, Dated: 28.06.2002

Notification No. 9 (RE-2002) 2002-2007 28/06/2002

NAFED and other State Trading Enterprises are permitted to export onions under quota released and notified by Director General of Foreign Trade from time to time. The designated STEs can also issue NOCs to their Associate shippers. The STEs are presently allowed to levy service charges for issue of NOC etc. @ 3.5% of the invoiced value ...

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Export Against Supply by Foreign Buyer- Clarification Regarding the Amount of Bank Guarantee to be Furnished under the Scheme-reg

Circular No. 36/2002-Custom Duty 28/06/2002

It has been brought to the notice of the Board by the Gem and Jewellery Export Promotion Council that the importers are being asked to furnish bank guarantee on the basis of tariff rate of duty applicable ...

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Policy Circular No. 6/2002-2007, Dated: 27.06.2002

Policy Circular No. 6/2002-2007 27/06/2002

The facility of Advance Licence for Intermediate Supplies would be granted against invalidation of Advance licences for physical exports issued before 01.04.2002 even in case where the intermediate supplier has supplied or intends to supply the material subsequent to the fulfilment of the export obligation by the ultimate exporter holdin...

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Amendment in the notification No. 62/94-Customs (NT), dated: 21.11.1994

Notification No. 41/2002-Customs (N.T.) 27/06/2002

The principal notification was published in the Gazette of India vide notification No. 62/94-Customs (NT), dated the 21st November, 1994 [S.O.829 (E), dated the 21st November, 1994] and last amended by notification No. 46/2001-Customs (NT), dated the 26th September, 2001....

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Levy of Special Additional Duty (SAD) on goods chargeable to duty under Additional Duties of Excise (Goods of Special Importance) Act, 1957- reg

Circular No. 35/2002-Custom Duty 27/06/2002

The ratio of the above judgement of the constitution bench of the Supreme Court is squarely applicable in the present case. As in the instant case, the subject goods have not suffered any Additional Excise Duty leviable ...

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Circular No. 642/33/2002-Central Excise, Dated: 26.06.2002

Circular No. 642/33/2002-Central Excise 26/06/2002

Circular No.642/33/2002-CX I am directed to refer to sub-rule 2 of rule 20 of Central Excise Rules, 2002 read with Notification No 46/2001 - Central Excise dated 26.6. 2001 relating to warehousing of excisable goods for the purpose of export and Board's Circular No. 581/18/2001-CX, dated 29th June 2001 (modifiedby Circular No.626/17/2002...

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