"December, 2007" Archive

Notification No. 126/2007-Customs Duty, Dated: 31.12.2007

Notification No. 126/2007-Customs 31/12/2007

In the said notification, in the Table, against S.No. 1 to 248, for the entries in column (5), the entry 'Nil' shall be substituted at all the places.This notification shall come into force with effect from the 1st day of January, 2008....

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Amends notification No.67/2006-Customs, Dated 30th June, 2006

Notification No. 125/2007-Customs 31/12/2007

In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendment in the notification of the Government of India in the Ministry of Finance (Department of ...

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Anti-dumping duty on import of Flat base Steel Wheels

Notification No. 124/2007-Customs 31/12/2007

Whereas, on the basis of the aforesaid findings of the designated authority, the Central Government had imposed provisional anti-dumping duty on the subject goods vide notification of the Government of India, Ministry of Finance (Department of Revenue), No. 51/2007-CUSTOMS, dated the 29th March, 2007, published in Part II, Section 3, Sub-...

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Notification No. 123/2007-Customs Duty, Dated: 31st December, 2007

Notification No. 123/2007-Customs 31/12/2007

The principal notification was published in the Gazette of India, Extraordinary, vide number G.S.R. 118(E), dated the 1st March, 2002 and was last amended by notification No.122/2007-Customs, dated the 26th December, 2007 which was published in the Gazette of India, Extraordinary vide number G.S.R.788(E), dated the 26th December, 2007....

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Notification No. 292/2007 – Income Tax Dated 31/12/2007

Notification No. 292/2007 - Income Tax 31/12/2007

Notification No. 292 - Income Tax The President of India is pleased to give his assent to the constitution of the Directorate of Income Tax, Human Resource Development (HRD), Central Board of Direct Taxes, Department of Revenue, Ministry of Finance, with immediate effect...

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Policy Circular No. 23 (RE-2007)/2004-09, Dated: 31.12.2007

Policy Circular No. 23 (RE-2007)/2004-09 31/12/2007

Import of Sandal Wood under Exim Code No. 44039922 will be restricted and subject to a ceiling of 5,000 cum in each licensing year. Imports will be permitted only against an Import License issued by the Directorate General of Foreign Trade. The Import License shall be issued in consultation with the Ministry of Environment and Forest. ...

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Provisions of Section 43B of the Income-Tax Act, 1961 held as not applicable to service tax

The Asst. Commissioner of Income Tax (Chennai) Vs M/s. Real Image Media Technologies Pvt. Ltd. (ITAT Chennai 'B' Bench)

The rigour of sec.43B may be applicable in the case of Sales-tax or Excise Duty but the same cannot be said to be the position in case of Service-tax because of two reasons. Firstly, the Assessee is never allowed deduction on account of service tax which is collected on behalf of the Govt., and paid to the Govt. accordingly. Therefore, a ...

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SEBI :(Foreign Institutional Investors) (Second Amendment) Regulations, 2007

Notification No. 11/LC/GM/2007/31/12/2007 31/12/2007

A foreign institutional investor or sub-account may lend or borrow securities in accordance with the framework specified by the Board in this regard....

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NABARD Bonds-Sec. 80C Eligible

Notification No. 293/2007 - Income Tax 31/12/2007

NABARD Rural Bonds of National Bank for Agriculture and Rural Development (NABARD) have been notified. The notification will take effect from the 1st April, 2008 and will, accordingly, apply in relation to the assessment year 2008-2009 and subsequent years ....

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UP CM Mayawati wins Rs.60.00 Lacs case in ITAT

The issue before the Tribunal is the gifts amounting to Rs. 12 lakhs in cash and Rs. 62 Lakhs in immovable property received by Mayavati. The donors had even borrowed money and made the gifts to her. The AO was not convinced but the CIT(A) was and Revenue is in appeal before the Tribunal. Assessee Mayavati is also before the Tribunal plea...

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