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Archive: March, 2008

Posts in March, 2008

Public Notice No. 132 (RE-2007)/2004-2009, Dated: 29.03.2008

March 29, 2008 331 Views 0 comment Print

In exercise of powers conferred under Paragraph 2.4 of the Foreign Trade Policy 2004-2009, the Director General of Foreign Trade hereby makes the following amendments in Handbook of Procedures.

There is no provision in the Income-tax Act which permits the allowance of a loss which was suffered by an assessee to be adjusted and set off or deducted from the profits of another assessee

March 29, 2008 546 Views 0 comment Print

Deduction on account of loss of Rs.60 lacs as result of dacoity which took place on 7th January 1999. It was explained that the aforesaid amount in cash formed part of the business receipts and that while it was being taken to the bank for being deposited was lost due to dacoity.

Notification No. 50/2008-Income Tax Dated 28/3/2008

March 28, 2008 463 Views 0 comment Print

Notification No. S.O. 50-Income Tax In exercise of the powers conferred by section 295 of 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: – 1. (1) These rules may be called the Income-tax (Sixth Amendment) Rules, 2008.

Public Notice No. 131 (RE-2007)/2004-2009, Dated: 28.03.2008

March 28, 2008 364 Views 0 comment Print

In the statement of Standard Input Output Norms (SION) as contained in the Handbook of Procedures (Vol.2), 2004-2009, as amended from time to time, amendments/corrections at appropriate places as mentioned in ANNEXURE “A” to this Public Notice are made.

Notification No. 90 (RE-2007)/2004-2009, Dated: 28.03.2008

March 28, 2008 559 Views 0 comment Print

Radioactive elements and isotopes and compounds other than those of sub-headings 2844 10,2844 20 or 2844 30; alloys, dispersions(including cermets), ceramic products amixtures containing these elements, isotopes or compounds; radioactive residues.

Whether the scrap imported by the appellants is chargeable to ‘NIL’ rate of additional customs duty under Section 3 of the Customs Tariff Act 1975

March 28, 2008 439 Views 0 comment Print

Tribunal has rejected the appeals filed by the appellants and held that the appellants had not satisfied the conditions for availing the benefit of the Notification No.8/96-CE dated 23rd July 1996 on the ground that the copper waste and scrap used by the appellants had been imported and had not been generated in the factory of production.

Amends Notification No. 12/1997-Customs Duty (N.T.)

March 28, 2008 469 Views 0 comment Print

The principal notification was published in the Gazette of India, Extraordinary, Part-II, section 3(i) vide number G.S.R. 193(E), dated the 2nd April, 1997 and was last amended vide number G.S.R. 666(E) , dated the 17th October, 2007.

Amends Notification No. 40/2005-Customs Duty(N.T.),dated 13th May, 2005

March 28, 2008 898 Views 0 comment Print

The principal notification No. 40/2005-Customs (NT), dated 13-5-2005 was published vide number G.S.R 308(E), dated the 13th May, 2005 and was amended by following numbers.

Notification No. 21/2008- Central Excise (N.T.) ;Dated: 28.03.2008

March 28, 2008 619 Views 0 comment Print

G.S.R. (E).- In exercise of the powers conferred by sub-section (1B) of section 35B of the Central Excise Act, 1944 (1 of 1944), the Central Board of Excise and Customs hereby makes the following further amendments in the notification of the Government of India,

Appointment of Chief Commissioners of Income Tax, Large Tax Payer Unit

March 27, 2008 493 Views 0 comment Print

In pursuance of the powers conferred by clause (b) of section 2 of the Central Excise Act, 1944 read with sub-rules (1) and (2) of rule 3 of the Central Excise Rules, 2002, the Central Board of Excise and Customs appoints the officers specified in column (1) of the Table below as Central Excise Officers, and invests them with all the powers of such officer specified in column.

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