"December, 2008" Archive - Page 11

The effect of fluctuation of foreign exchange rate resulting in increase of cost of plant and machinery

Commissioner of Income Tax, Rajkot Vs M/s Gujarat Siddhi Cement Ltd. (Supreme Court of India)

Challenge in this appeal is to the judgment of a Division Bench of the Gujarat High Court dismissing the appeal filed by the present appellant. The appeal was filed under Section 260A of the Income Tax Act, 1961 (in short the Act). The question relates to the effect of Section 43A of the Act. ...

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Regarding Assessment of Banks – Checklist For Deductions

17/2008 (26/11/2008)

INSTRUCTION NO. 17/2008, DATED 26-11-2008 In a recent review of assessment of Banks carried out by C&AG, it has been observed that white computing the income of banks under the head 'Profit and Gains of Business & Profession', deductions of large amounts under different sections are being allowed by the Assessing Officers without proper v...

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Why the Dollar Is Getting Stronger

What’s behind the dollar’s surprising strength? First, there’s the fear factor. During tough economic times, investors often flee foreign currencies and other risky assets for safe havens like the US dollar. The euro, the pound, and emerging-market currencies may also have been inflated after a six-year run-up....

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Posted Under: Income Tax |

Public Notice No. 117 (RE-2008)/2004-2009, Dated: 16.12.2008

Public Notice No. 117 (RE-2008)/2004-2009 (16/12/2008)

In exercise of powers conferred under Paragraph 2.4 of the Foreign Trade Policy, 2004-2009 and Paragraph 1.1 of the Handbook of Procedures (Vol.I), the Director General of Foreign Trade hereby makes the following amendments in the Schedule of DEPB Rates as amended from time to time, with immediate effect....

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Notification No. 72 (RE-2008)/2004-2009, Dated: 16.12.2008

Notification No. 72 (RE-2008)/2004-2009 (16/12/2008)

In exercise of powers conferred by Section 5 of the Foreign Trade (Development and Regulation) Act, 1992 read with paragraph 2.1 of the Foreign Trade Policy – 2004-09, the Central Government hereby amends Schedule – I (Imports) of the ITC (HS) Classifications of Export and Import Items, 2004-09....

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Public Notice No. 116 (RE-2008)/2004-2009, Dated: 15.12.2008

Public Notice No. 116 (RE-2008)/2004-2009 (15/12/2008)

For VKGUY Scheme, on exports made from 11.12.2008 the modifications carried out in Appendix 37A vide Public Notice No. 9(RE2008)/2004-09 dated 24.4.2008 and earlier vide Public Notice No. 5(RE2008)/2004-09 dated 17.4.2008 in respect of Milk and Milk Products are deleted....

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Public Notice No. 115 (RE-2008)/2004-2009, Dated: 15.12.2008

Public Notice No. 115 (RE-2008)/2004-2009 (15/12/2008)

In exercise of powers conferred under Paragraph 2.4 of the Foreign Trade Policy 2004-09, the Director General of Foreign Trade hereby makes the following amendments in Handbook of Procedures....

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Amends notification No. 36/2001-Customs Duty (N.T.), dated, 3rd August 2001,

Notification No. 131/2008-Customs (N.T.) (15/12/2008)

In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Board, being satisfied that it is necessary and expedient so to do, hereby makes the following further amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 36/2001-Cus ...

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Anti dumping duty on imports of certain rubber chemicals

Notification No. 133/2008-Customs (12/12/2008)

For the purposes of this notification "rate of exchange" applicable for the purposes of calculation of such anti-dumping duty shall be the rate which is specified in the notification of the Government of India, in the Ministry of Finance (Department of Revenue), issued from time to time, in exercise of the powers conferred by section 14 o...

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Exempts 10% ethanol blended petrol from duty of excise

Notification No. 62/2008-Central Excise (24/12/2008)

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 111 of the Finance (No 2) Act, 1998 ( 21 of 1998) the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts 10% ethanol blended petro...

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