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. 3 – Income Tax S.O. (E).-In exercise of the powers conferred by section 295 read with rule 3 of Part A of the Fourth Schedule to the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely
In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government being satisfied that it is necessary in the public interest so to do, hereby directs that each of the notifications of the Government of India in the Ministry of Finance (Department of Revenue), specified in column (2) of the Table hereto annexed shall be amended or further amended, as the case may be, in the manner specified in the corresponding entry in column (3) of the said Table, namely.
Provided that any mutual fund which is not in compliance with sub-regulations (3) or (4) as at the commencement of the Securities and Exchange Board of India
This notification is applicable only to the recipients of income on behalf of the Institution and not to any other receipt or income of such recipients.
G.S.R. 26 (E)- In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excise Act, 1944 (1 of 1944) read with sub-section (3) of section 3 of the Additional Duties of Excise (Goods of Special Importance) Act, 1957 (58 of 1957) and sub-section (3) of section 3 of Additional Duties of Excise (Textile and Textile Articles) Act, 1978 (40 of 1978)
Notification No.2 – Income Tax S.O. 37(E).- In exercise of the powers conferred by sub-clause (a) of clause (xvi) of sub-section (2) of section 80C of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the Public Deposit Scheme of Housing and Urban Development Corporation Ltd. (HUDCO Bhavan, India Habitat Centre, Lodi Road, New Delhi) for an amount of rupees one
The Board has accepted this recommendation of the C&AG. The Board has already issued a detailed circular regarding initiation of coercive action for the recovery of central excise duties under its Circular 788/21/2004-CX dated 25 May 2004 issued from F. No. 208/41/2003-CX.6. The instructions contained in this Circular would apply mutatis mutandis for the recovery of customs arrears as well.
In case the above time period cannot be observed in a particular case, the adjudicating officer shall keep his supervisory officer informed regarding the circumstances which prevented the observance of the above time frame, and the supervisory officer would fix an appropriate time frame for disposal of such cases and monitor their disposal accordingly.
In case the above time period cannot be observed in a particular case, the adjudicating officer shall keep his supervisory officer informed regarding the circumstances which prevented the observance of the above time frame, and the supervisory officer would fix an appropriate time frame for disposal of such cases and monitor their disposal accordingly.
