Section 14A, the heading of which is ‘Expenditure incurred in relation to income not includable in total income’, was inserted in the Income-Tax Act, 1961 (the Act), by the Finance Act, 2001. As per Circular No.14 of 2001 [252 ITR (St.) 65], issued by the CBDT, a new section 14A was inserted, so as to clarify the intention of the Legislature since the inception of the Act, that no deduction shall be made in respect of any expenditure incurred by the assessee
NOTIFICATION NO. 1/2011 – SERVICE TAX, DATED 1-3-2011. In exercise of the powers conferred by sections 93 and 94 of the Finance Act, 1994 (32 of 1994), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following rules further to amend the Works Contract (Composition Scheme for Payment of Service Tax) Rules, 2007, namely :—
Notification No. 18/2011-Customs (N.T), New Delhi, the 1st March, 2011. G.S.R. (E).— In exercise of the powers conferred by section 28AB of the Customs Act, 1962(52 of 1962) and in supersession of the notification of the Government of India in the Ministry of Finance(Department of Revenue) No.76/2003-Customs (N.T.), dated the 12th September, 2003[GSR (E), dated the 12th September, 2003], except as respects things done or omitted to be done before such supersession, the Central Government hereby fixes the rate of interest at eighteen percent. per annum for the purposes of the said section.
G.S.R. (E).— In exercise of the powers conferred by section 28AA of the Customs Act, 1962(52 of 1962) and in supersession of the notification of the Government of India in the Ministry of Finance(Department of Revenue) No.26/2002-Customs(N.T.), dated the 13th May, 2002[GSR 735 (E), dated the 13th May, 2002], except as respects things done or omitted to be done before such supersession, the Central Government hereby fixes the rate of interest at eighteen percent. per annum for the purposes of the said section.
Notification No. 16/2011-Customs (N.T), New Delhi, the 1st March, 2011. G.S.R. (E). – In exercise of the powers conferred by section 11 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do, for the purposes specified in clauses (u) and (v) of sub-section (2), hereby prohibits the import of the goods, the description of which is specified in column (3) of the Table below, falling under chapter, heading, sub- heading or tariff item of the First Schedule of the Customs Tariff Act,
Notification No. 15/2011-Customs (N.T), New Delhi, the 1st March, 2011. G.S.R. (F) – In exercise of the powers conferred by sub-section (6) of section 9A and subsection (2) of section 9B of the Customs Tariff Act, 1975 (51 of 1975), the Central Government hereby makes the following rules further to amend the Custom Tariff (Identification, Assessment and Collection of Anti-dumping Duty on Dumped Articles and for Determination of Injury) Rules, 1995, namely :-
G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962) and in supersession of notifications of the Government of India in the Ministry of Finance (Department of Revenue) issued vide notification No.100/89-Customs, dated the 1st March,1989[ G.S.R 315 (E), dated the 1st March,1989], No. 135/1994-Customs, dated the 24th June,1994
Notification No. 26/2011-Customs, New Delhi, the 1st March, 2011. G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby exempts goods of the description specified in column (2) of the Table below and falling within the First Schedule to the Customs Tariff Act, 1975 (51 of 1975)(herein after referred to as the said Act), when imported into India,
Notification No.25/2011-Customs, New Delhi, the 1st March, 2011. G.S.R. (E) .- In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby exempts packaged software or canned software, falling under Chapter 85 of the First Schedule to the Customs Tariff Act, 1975, (51 of 1975) on which it is not required, under the provisions of The Legal Metrology Act, 2009
Notification No.24/2011-Customs, New Delhi, the 1st March, 2011. G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby exempts copper concentrates falling under the tariff item 2603 00 00 of the First Schedule to the Customs Tariff Act, 1975(51 of 1975), when imported into India, from so much of the duty of customs as is equivalent to the duty of customs leviable on the value of gold and silver contained in such copper concentrate, subject to the condition that the importer produces to the Assistant Commissioner of Customs or Deputy Commissioner of Customs, as the case may be, an assay certificate from the mining company specifying separately, the value of gold and silver content in such copper concentrate.
