"03 February 2005" Archive

Ranchi Club Ltd. is still good law in respect of levy of Interest U/s. 234A /234B/ 234C

The Patna High Court in the case of Ranchi Club Ltd. Vs. C.I.T. [1996] 217 ITR 72 (Pat.), rendered a very significant judgement that interest under Section 234A and 234B is to be levied on the income declared in the return of income and not on the assessed income. This judgement was passed on 13.11.1995. Thereafter, on 2.7.1996, another v...

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Posted Under: Income Tax |

Admissibility of Duty Drawback in Respect of Supplies Effected by DTA Units to SEZ – reg

Circular No. 06/2005-Customs Duty 03/02/2005

Attention is invited to Board's Circular No.24/2003-Customs, dated 1.4.2003 and Circular No.2/2004-Customs dated 8.1.2004, regarding admissibility of duty drawback in respect of the supplies effected by Domestic Tariff Area (DTA) Units to Special Economic Zones. Chapter X-A of the Customs Act...

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