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Join our free webinar on July 7 at 5 PM for insights into 10 recent High Court income tax judgments favoring assessees. Expert analysis by CA Dipak Dama.
Notification No.1/2012-Customs (SG) Whereas, in the matter of import of Phthalic anhydride, falling under tariff item 29173500 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) (hereinafter referred to as the said Act), the Director General (Safeguard), in preliminary findings published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 719 (E), dated the 23rd September, 2011, had come to the conclusion that increased imports of Phthalic anhydride into India had caused and threatened to cause further serious injury to the domestic producers of Phthalic anhydride and it necessitates to impose provisional safeguard duty on imports of Phthalic anhydride into India;
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 makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 21/2002-Customs, dated the 1st March, 2002, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-Section (i), vide number G.S.R.118 (E) dated the 1st March, 2002, namely:-
THE COST AND WORKS ACCOUNTANTS (AMENDMENT) ACT, 2011 (No. 10 of 2012) [12th January, 2012.] An Act further to amend the Cost and Works Accountants Act, 1959. BE it enacted by Parliament in the Sixty-second Year of the Republic of India as follows:— Short tide and commencement 1. (1) This Act may be called the Cost and Works Accountants (Amendment) Act, 2011. (2) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint.
Over the last five years, a word became very popular around the world. It dominated discourses amongst policy makers. It consumed innumerable hours of prime time on television. It spanned across meetings in offices, dinner table conversations, and informal chit chat between friends. The word is ‘crisis’. It has become almost a norm for speeches and addresses such as this to start with a reference to the crisis. This address, and indeed the subject of this seminar, is no different. Yet the subject remains as topical today as it was five years back when the global financial crisis first came to light.
It has now been decided to permit all AD Category-I banks to grant permission to companies to hedge the price risk in respect of any commodity (except gold, silver, platinum) in the international commodity exchanges/ markets as specified under the delegated route. 3. Further, AD Category-I banks can also grant permission to unlisted companies to hedge price risk on import/ export in respect of any commodity (except gold, silver, platinum) in the international commodity exchanges/ markets subject to guidelines as specified in the Annex.
On the basis of specific intelligence that, public buses plying between Siliguri & Debiganj are carrying contraband goods intended for illegal export to Nepal, the officers of Headquarter Preventive & Intelligence Branch on 11.01.2012 at the time of checking Public transport buses coming from Siliguri and heading towards Naxalbari and Debiganj recovered 5 gunny bags which on preliminary verification were found to contain idols of black stones.
Notification No. 4/2012-Customs (N.T.) entral Board of Excise and Customs (CBEC), Department of Revenue, Ministry of Finance has issued a Notification No.4/2012-Customs (N.T.) dated January 17, 2012 and thereby notifying tariff values of Gold and Silver as shown in the table below.
issue of Long Term Infrastructure Bonds by Srei Infrastructure Finance Limited – Issue of first tranche of infrastructure bonds (Bonds) by the Company under Section 80CCF of the Income Tax Act, 1961. Resident individuals and HUFs eligible for deduction of up to Rs 20,000 in computation of taxable income for the current financial year. CARE AA Credit Rating by CARE indicating high degree of safety with regards to timely servicing of financial obligations. The Bonds Issue opened on December 31, 2011 and closes on January 31, 2012 The Bonds are proposed to be listed on BSE Limited
ORDER NO. 14 OF 2012 -In continuation of this Department’s order No. 175/2011 dated 27.10.2011, on promotion to the grade of Joint Commissioner of Income Tax on ad hoc basis, following transfer/posting of officers are ordered with immediate effect and until further orders:
ORDER NO. 13 of 2012 – The following officers in the grade of Additional/Joint/Deputy/Assistant Commissioner of Income Tax are hereby transferred and posted at the station indicated against each in the Directorate of International Taxation and Transfer Pricing with immediate effect and until further orders:
