"28 January 2008" Archive

Exchange rate notification for Import of / exported goods w.e.f 1st February, 2008

Notification No. 5/2008-Customs (N.T.) 28/01/2008

In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the Government of India in the Ministry of Finance (Department of Revenue) No.123/2007(NT)-CUSTOMS, dated the 26th December, 2007 vide number S.O. 2184(E), dated the 26th December, 2007, except as respects th...

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Expenditure made for use of domestic customer base and transfer of human skills – revenue in nature – allowable deduction : ITAT

THE assessee company was incorporated during the financial year 1997-98. Originally, there was a company jointly promoted by Tatas and IBM , which were known as Tata IBM. During the financial year 1997-98, it was mutually agreed between the two promoters to bifurcate the business activities into separate entities viz. IBM Global Services ...

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Posted Under: Custom Duty |

Jayalalitha wins – Agricultural income & cash expenditure, not bogus- ITAT

The assessee is a partnership firm constituted by the Deed of Partnership dated 22.1.1980 and consisted of two partners, viz., Ms. J. Jayalalitha and Ms. V Sasikala . In terms of the Deed of Partnership, the Assessee carries on the business of all types of printing and publishing of newspapers, magazines, periodicals etc. and such other b...

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Posted Under: Custom Duty | ,

The Amadeus system, by which subscribers in India are enabled to perform the functions of reservation and ticketing, represents a "business connection"

23 01/01/1970

Amadeus Global Travel vs. DCIT (ITAT Delhi) (i) The Amadeus system, by which subscribers in India are enabled to perform the functions of reservation and ticketing, represents a business connection because it extends to the Indian territory in the form of connectivity in India and generates income in India when the booking is completed on...

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Posted Under: Custom Duty |

Right to Information Act, 2005 (RTI)

It comes into force on the 12th October, 2005 (120th day of its enactment on 15th June, 2005). Some provisions have come into force with immediate effect viz. obligations of public authorities [S.4 (1)], designation of Public Information Officers and Assistant Public Information Officers[S.5( 1) and 5(2)], constitution of Central Informat...

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Posted Under: Custom Duty |

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