In exercise of the powers conferred by section 30 read with clause (ba) of sub-section (2) of section 11 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Board hereby makes the following regulations to further amend the Securities and Exchange Board of India (Custodian of Securities) Regulations, 1996, the Securities and Exchange Board of India (Depositories and Participants) Regulations, 1996 and
In exercise of the powers conferred by sub-section (2) of section 8C of the Customs Tariff Act, 1975 (51 of 1975), read with rules 10 and 14 of the Customs Tariff (Transitional Product Specific Safeguard Duty) Rules, 2002, the Central Government hereby rescinds the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 26/2009- Customs, dated the 23rd March, 2009, which was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 187(E) of the same date, except as respects things done or omitted to be done before such rescission.
The Safeguard duty imposed under this notification shall be levied with effect from the date of imposition of the provisional Safeguard duty, that is, the 23rd March, 2009.
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 makes the following amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 10/2008-Customs dated the 15th January, 2008 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 33(E), dated the 15th January, 2008, namely.
The principal notification No. 75/2005-Customs, dated the 22nd July, 2005 was published in the Gazette of India, Extraordinary, vide number G.S.R. number 500 (E), dated the 22nd July 2005 and was last amended by notification no. 45/2008-Customs, dated the 9th April 2008 which was published in the Gazette of India, Extraordinary vide number G.S.R. 273 (E), dated the 9th April 2008.
The first issue is taken up first for consideration. Section 139(5) permits the assessee to file a revised return on discovery of an omission or any wrong statement in the original return. Of course, only such return can be revised which has been filed under section 139 (1) or which has been filed pursuant to notice under section 142 (1).
We have duly considered the rival contentions and the material on record. The crux of the matter is to determine the true character of the receipt in the hands of the assessee and not the utilization thereof. The utilization will not determine the nature of the receipt. The assessee may mis-utilise the funds but that will not either determine or change the character of the receipt. The foremost thing to be appreciated is that the assessee has taken
The party could end soon for domestic and multinational companies that do tax planning only to avoid paying taxes in India. The government is set to usher in the next stage of reforms in taxation, framing anti-abuse rules that will empower tax authorities to lift the corporate veil and look for what are called `avoidance’ […]
The Following Benches will not function during the period 22.06.09 to 26.06.09:- “A-1, B-1, E-1,K, SMC & WT ” The cases are adjourned to respective dates. Please see separate Notice.
