That where the importer does not claim exemption from the additional duty of customs leviable under section 3 of the said Customs Tariff Act, he shall be deemed not to have availed the exemption from the said duty for the purpose of calculation of the said additional duty of customs.
Foreign Trade Policy means the Foreign Trade Policy 2009-2014, published by the Government of India in the Ministry of Commerce and Industry vide notification No.1 /2009-2014, dated the 27th August, 2009 as amended from time to time
Licensing Authority or Regional Authority means the Director General of Foreign Trade appointed under section 6 of the Foreign Trade (Development and Regulation ) Act,1992 (22 of 1992) or an officer authorised by him to grant a licence under the said Act.
The Division Bench of the Delhi High Court comprising of Justice Badar Durrez Ahmed and Justice Rajiv Shikader gave a milestone judgment on 18th April, 2009, in the case of Home Solution Retail India Ltd and Others Vs. UOI and Others (2009-TIOL-196-HC-DEL-ST). The issue involved in this case related, to a batch of Writ Petitions challenging the legality, validity and vires of Notification No.24/2007 dated 22.05.2007 and Circular No.90/1/2008 dated 04.01.2008, issued by the Secretary, Ministry of Finance, Department of Revenue, Government of India.
what needs to be done by an assessing authority under the Income-tax Act, 1961, in examining the claim of an assessee that the payment made by such assessee was a deductible expenditure under $.37 of the Income-tax Act although called a penalty is to see whether the law or scheme under which the amount was paid required such payment to be made as penalty or as something akin to penalty,
In a nut-shell, it is held that the instance case is one of rendering multi-farious services for production of films by foreign companies in India and handing over the negatives to them in India. This does not involve export or transfer outside India by any means of any film software by the assessee.
Regarding the addition made u/s 41(1), we are of the view that the Assessing Officer has incorrectly invoked this provision. There is neither any remission nor cessation of the liability. The Assessing Officer has simply added all the credits appearing in the balance sheet which could not be hit by Section 41(1).
We have the rival submissions and perused the records. During the year under consideration the assessee society had claimed as exempt a sum or Rs. 10.00 Lakhs received on account of damages for wrongful proceedings against the society taken up before the Deputy Registrar of Co-operative Housing Society. Mr. Manojkumar Goswami & Mrs. Shashi Goswami
Notice of Non-functioning Benches from period of 14.09.09 to 17.09.09 The Following Benches will Not function during the period from 14.09.2009 to 17.09.2009 “H”, “I”, “K”, & “WT”
Circular Issued by: – Government of India, Ministry of Corporate Affairs, Office of Registrar of Companies. Issued to: Local Chapter, ICAI/ICSI/ICWAI Sub: – Panel for outsourcing of work of Technical Scrutiny of Balance Sheets. This office (ROC Office) is in process of preparing a panel of professionals for outsourcing the work of Technical scrutiny of Balance sheets filed […]
