CENVAT credit or duty drawback while the same paid through debit under DEPB was not allowed as duty drawback. In the Foreign Trade Policy 2004-2009, which came into force w.e.f. 1.9.2004, it has been provided under paragraph 4.3.5 that the additional customs duty/excise duty paid in cash or through debit under DEPB shall be adjusted as CENVAT credit or Duty Drawback as per the rules framed by the Department of Revenue.
this notification will not apply in relation to any income being profits and gains of business, unless the business is incidental to the attainment of the objectives of the assessee and separate books of accounts are maintained in respect of such business
this notification will not apply in relation to any income being profits and gains of business, unless the business, is incidental to the attainment of the objectives of the assessee and separate books of accounts are maintained in respect of such business
Notification No.215/2005 – Income Tax It is hereby notified for general information that the organization K.J. Research Foundation, 152, Poonamallee High Road, Chennai – 600 084 has been approved by the Central Government for the purpose of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961, read with rule 6 of the Income-tax Rules, 1962 for the period from 1-4-2003 to 31-3-2006 under the
