"04 October 2012" Archive

‘Election period’ notified as ‘specified class’ where no notice required to assess the income in case of search

Notification No. 42/2012-Income Tax (04/10/2012)

Notification No. 42/2012-Income Tax In the Income-tax Rules, 1962, after rule 112E, the following rule shall be inserted, namely:- Class or Classes of cases in which the Assessing Officer shall not be required to issue notice for assessment or reassessment of the total income for six assessment years immediately preceding the assessment y...

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S. 68 – AO need not establish that money come from assessee’s coffers

Commissioner of Income-tax Vs Independent Media (P.) Ltd. (Delhi High Court)

We are unable to uphold the view of the Tribunal that it is incumbent upon the Assessing Officer, on the facts and circumstances of the case, to establish with the help of material on record that the share monies had come or emanated from the assessee's coffers. Section 68 of the Act casts no such burden upon the Assessing Officer. ...

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Regarding Anti Dumping Duty on imports of Cold Rolled Flat Products of Stainless Steel

Notification No. 46/2012–Customs (ADD) (04/10/2012)

Whereas in the matter of imports of Cold Rolled Flat Products of Stainless Steel(400 Series) having width below 600 mm,(hereinafter referred to as the subject goods), classified under Chapter 72 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), originating in, or exported from, European Union, Korea RP, and USA Notifica...

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Duty Drawback Rates in supersession of Notification No. 68/2011-Customs (N.T.)

Notification No. 92/2012-Customs (N.T.) (04/10/2012)

Notification No. 92/2012 - Customs (N.T.) Ministry of Finance (Department of Revenue) No.68/2011-Customs (N.T.), dated the 22nd September, 2011 published vide number G.S.R. 712 (E), dated the 22nd September, 2011, except as respects things done or omitted to be done before such supersession, the Central Government hereby determines the ...

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Rate of exchange of conversion of each of the foreign currency WEF 05th October, 2012

Notification No. 91/2012-Customs (N.T.) (04/10/2012)

Central Board of Excise and Customs hereby determines that the rate of exchange of conversion of each of the foreign currency specified in column (2) of each of Schedule I and Schedule II annexed hereto into Indian currency or vice versa shall, with effect from 5th October, 2012 be the rate mentioned against it in the corresponding entr...

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Transfers & Postings of Commissioners/ Directors of Income-tax – Order No. 186

Order No. 186 (04/10/2012)

Vide Order No. 186 dated 04.10.2012 the CBDT has ordered the transfers & postings of several officers in the grade of Commissioners/ Directors of Income-tax with immediate effect....

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Public issues in electronic form and use of nationwide broker network of stock exchanges for submitting application forms

Circular No. CFD/14/2012 (04/10/2012)

SEBI has decided to introduce an additional mechanism for investors to submit application forms in public issues using the stock broker network of Stock Exchanges, who may not be syndicate members in an issue.This mechanism can be used to submit ASBA as well as non-ASBA applications by investors....

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