Notification No. 141/2009 – Customs In exercise of the powers conferred by sub-sections (1) and (2) of section 9A of the Customs Tariff Act, 1975 (51 of 1975), read with rules 13, 18 and 20 of the Customs Tariff (Identification, Assessment and Collection of Anti-dumping Duty on Dumped Articles and for Determination of Injury) Rules, 1995, the Central Government hereby rescinds the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 74/2009-Customs, dated the 22nd June, 2009, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R.438(E), dated the 22nd June, 2009, except as respect things done or omitted to be done before such rescission.
An amendment in the Development Control Regulation 33 (9) pertaining to cluster redevelopment has given tenants of old, cessed buildings in the island city the right to select their own builder. However, the ultimate power to sanction such schemes still rests with the landlords as without their consent no redevelopment can take place.
Despite valiant attempt on the part of learned counsel for the appellant to convince us that in view of some observations in Dena Bank Vs. Bhikhabhai Prabhudas Parekh & Co. & Ors., 2000(5) SCC 694, the issue raised in the present appeal requires consideration, in our judgment the issue is no more res integra. In State Bank of Bikaner & Jaipur vs. National Iron & Steel Rolling Corp. & Ors., (1995) 2 SCC 19, explaining the scope of Section 11- AAAA of the Rajasthan Sales Tax Act, 1954 (for short, “the Act”) which is pari materia to Section 13-B of the Orissa Sales Tax Act, 1947, a three-Judge Bench of this Court has held that the statutory charge created under Section 11- AAAA of the said Act, the sales tax dues shall have precedence over the mortgage created in favour of the Bank.
The Principal notification was published in the Gazette of India, Extraordinary, vide Notification No. 36/2001 – Customs (N.T.), dated, the 3rd August, 2001 (S. O. 748 (E), dated, the 3rd August, 2001) and was last amended vide Notification No. 176/2009-Customs (N.T.), dated, the 30th November, 2009 (S. O. 3059 (E) dated 30th November, 2009).
The Institute compiles data of firms as on 1st January every year based on the particulars as provided by the firms duly confirmed/updated/modified. The exercise for compilation of the data of the firms as on 1st January, 2010 is being undertaken.
CA. Uttam Prakash Agarwal, President, the Institute of Chartered Accountants of India (ICAI), has been awarded with the honorary membership of the Certified Practising Accountant of Australia by Prof. Richard Petty, President, CPA Australia Ltd. CPA Australia is one of the largest accounting bodies in Australia. CA. Uttam Prakash Agarwal was bestowed with this honor during his visit to Washington D.C. to attend the Board Meeting of International Federation of Accountants (IFAC is the global organization for the accountancy profession to protect the public interest by encouraging high quality practices by the world’s accountants) .
Notification No. 182/2009 – Customs (N. T.)- 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 (N. T.), dated, the 3rd August 2001, namely: –
The debt requests in this regard shall be forwarded to the dedicated email id fii_debtrequests@sebi.gov.in. The window for first come first served process shall open at 23:59 PM IST, December 17, 2009. Time period for utilization of the allocated debt limit through first come first served basis shall be 11 working days from the date of the allocation.
The government is likely to ease the incidence of minimum alternate tax, or MAT, on infrastructure companies. The department of revenue plans to change the proposed direct tax code to exempt these companies from MAT for the first few years since they execute projects with long gestation periods. The code, in its current form, says all companies must pay MAT based on their gross asset value. In the case of infrastructure companies, this is very high since their asset base is huge. “It is oneof the proposals we are looking at,” a senior finance ministry official told.
An Indian company that provides a bank guarantee (BG) against a loan taken by a subsidiary abroad will now have to pay tax here for standing guarantee for its associate, irrespective of whether or not it has received a commission from the latter for the BG. Seven companies which have provided bank guarantees against loans taken by their subsidiaries abroad are already under the tax net of India’s transfer pricing administration, a senior income-tax official said.
