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Request for revalidation may be submitted to the concerned Regional Authority (who have issued the DFIA) within a maximum period of 60 days from the date of the issuance of this Public Notice. DFIA shall be revalidated for a period of six months from the date of endorsement of revalidation. RAs shall endorse revalidation within a period of maximum 7 working days from the date of receipt of the request.
However, in case the application is filed along with BRC, the time period for filing shall be within a period of twelve months from the date of exports or six months from the date of realisation of export proceeds or the date of up-linking of EDI shipping bill details in the DGFT website or within three months from the date of printing / release of shipping bill, whichever is later, in respect of shipments for which claim has been filed.
In pursuance of sub-rule (1) of rule 11 of the Customs Tariff (Transitional Product Specific Safeguard Duty) Rules, 2002, the Central Government hereby extends the period upto, and inclusive of, 15th day of October, 2009 for submission of final findings on safeguard investigation concerning import of Soda Ash into India.
In exercise of the powers conferred by Section 5 of the Foreign Trade (Development & Regulation) Act, 1992 (No.22 of 1992) read with Para 1.3 and Para 2.1 of the Foreign Trade Policy, 2009-2014, the Central Government hereby makes the following amendments to the ITC(HS) Classifications of Export and Import Items, as amended from time to time.
By CA. Pradeep Jain and Sukhvinder Kaur [LLB (FYIC)] Merchant overtime fee (MOT charges) are the charges which are required to be paid by the exporter/ assessee who is availing the services of Central Excise Officers, in accordance with any prescribed procedure, beyond office hours or on Sunday, Saturdays or public holidays i.e. is after […]
The expenditure incurred by the assessee by way of payments to the retiring partners is only an application of its income, which is on capital account and not allowable as a deduction.
In all the appeals before us, the specific case of the assesses is that the BSE card acquired by them on or after 1/4/1998 is an intangible asset covered under the expression ‘licences’ or alternatively covered under the expression ‘any other business or commercial rights of similar nature’ enumerated in section 32(1)(ii) of the Act and therefore, depreciation is allowable on the BSE card acquired by them.
It is difficult to conceive that items like carpet etc., would fall in the category of items which are considered in the case of Madras Auto Service (supra). In particular, the assessee has not placed any material, either before the tax authorities or before us to show that the lump-sum payment in the form of renovation expenses has benefited the assessee in the form of reduction in the revenue expenditure over a period of years by virtue of low rentals or otherwise.
The assessee co-operative society did not conform to the stipulation and limitation of the types of activities in which a banking company is allowed to engage as per the Banking’ Regulation Act, 1949.
In our-view, the receipts do satisfy the conditions mentioned in section 80R that the services are rendered in his capacity as a teacher or research worker in such Institution, Association of Body. The amounts are not his professional receipts as he has no permission to practise in a foreign country.
