"31 July 2007" Archive

Whether outgoing partners liable to pay excise duty assessed against a registered partnership firm, which was dissolved?

M/s. Gopal Industries Ltd. Vs CCE, Indore (CESTAT New Delhi, Principal Bench, Court No.I)

The assessment under the Central Excise law in the name of partnership firm will virtually, for all purposes, be assessment of the partners of such firm who will be jointly and severally liable for the duty liability that was incurred during the currency of their partnership venture of manufacturing excisable goods. The decisions of this...

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Notification No. 212/2007 – Income Tax Dated 31/7/2007

Notification No. 212/2007 - Income Tax (31/07/2007)

Notification No. 212 - Income Tax Whereas the Central Government in exercise of the powers conferred by clause (iii) of sub-section (4) of section 80-IA of the Income-tax Act, 1961 (43 of 1961) (hereinafter referred to as the said Act), has framed and notified a scheme for industrial park, by the notifications of the Government of India ...

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Notification No. 211/2007 – Income Tax Dated 31/7/2007

Notification No. 211/2007 - Income Tax (31/07/2007)

Notification No. 211 - Income Tax Whereas the Central Government in exercise of the powers conferred by clause (iii) of sub-section (4) of section 80-IA of the Income-tax Act, 1961 (43 of 1961) (hereinafter referred to as the said Act), has framed and notified a scheme for industrial park, by the notifications of the Government of India i...

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Comparison of fiscal benefit available to SEZ, SEZ developer & 100% EOU

Units undertaking to export their entire production of goods and services except to the extent of permissible sales in the DTA. Second hand capital goods, without any age limit, may also be imported duty free....

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Posted Under: Excise Duty |

Interpretation of Accounting Standard's issued by ICAI

Chapter III of the Income-tax Act, 1961 (hereinafter referred to as the ‘Act’) deals with incomes which do not form part of total income. Sections 10A and 10B of the Act are covered under Chapter III. These sections allow certain deductions, for certain years, from the total income of an assessee. These deductions are commonly describ...

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Posted Under: Excise Duty |