If the assessee is able to keep the six months’ limit from the date of transfer of capital asset, but, still able to place investment of Rs. 50 lakhs each in two different financial years, we cannot say that the restrictive proviso will limit the claim to Rs. 50 lakhs only.
Sub:- Estt. Group ‘A’ – Transfer and posting of Deputy/Asstt. Commissioners of Income-tax – Reg. The following transfers and postings in the grade of Deputy/Assistont. Commissioners of Income-tax ore hereby ordered with immediate effect and until further orders:-
During the Conference of the Chief Commissioner / Directors Generals with the Hon’ble Finance Minister on 28.08.2012 in Delhi, the issue of high pendency of Adjudication cases raised by Mr. S.B. Singh, Chief Commissioner, Hyderabad and Shri Sushil Solanki, Commissioner (ST), Mumbai-I was discussed. It was proposed, therein, to grant powers to the jurisdictional Chief Commissioners to assign the Commissioners (Appeals), having less work under their respective charges, the powers of Adjudication. It was directed by the Hon’ble FM that CBEC should immediately delegate the powers to the CCs.
We are sharing with you an important judgement of the Hon’ble Customs, Excise and Service Tax Appellate Tribunal of Bangalore (the CESTAT) in the case of the CCE Vs. M/s Amar Roto Prints [2013-TIOL-926-CESTAT-BANG] on following issue: Issue: Whether Cenvat credit can be denied on inputs used in a process not considered as manufacture and […]
Beginning 1st July, 2013, Customs clearance of all export goods will take place on 24×7 basis from four major Air Cargo Complexes/airports i.e., Bangalore, Chennai, Delhi and Mumbai. Thus, all exports including those made under export incentives scheme as well as duty drawback scheme will now be able to be move out of the country […]
NOTIFICATION NO. GSR 397(E) [F.NO.2/1/2013-NS-II], DATED 25-6-2013 In exercise of the powers conferred by section 12 of the Government Savings Certificates Act, 1959 (46 of 1959), the Central Government hereby makes the following rules further to amend the National Savings Certificates (VIII Issue) Rules, 1989. namely:- 1. (1) These rules may be called the National […]
As per the extant policy, the payment for spectrum allocation may initially be met out of the Rupee resources by the successful bidders, to be refinanced with a long term ECB, under the approval route, subject to the condition that ECB should be raised within 12 months from the date of payment of the final installment to the Government.
We, in our country, have very specific set of law makers and they make the rules and regulations, specially the rules and regulation affecting the Tax payer public in a very strange way. Sometimes they brought a new of rules and procedures in the name of tax reforms and user friendly and then in a year or two they revert back to the more stringent procedure and this practice is continue since year to year and nobody is there to stop this system of trial and error Method which they are practicing in search of excellence at the cost of Tax payer public.
We have also been receiving references from certain banks asking whether advance against units of gold Exchange Traded Funds (ETF) and gold Mutual Funds is permitted. As these products are backed by bullion/primary gold, it is clarified that the restriction on grant of loan against “gold bullion” stipulated in terms of our circular dated July 22, 1978 referred to at para 2 above, will also be applicable to grant of advance against units of gold ETFs and units of gold Mutual Funds.
Remuneration payable to the Statutory Central and Branch Auditors of Public Sector Banks from the year 201 2-13 DBS.ARS.No.BC. 08/ 08.92.001/ 2012-13 June 25, 2013 The Chairman & Managing Director, all Nationalised Banks and The Managing Director, Associate Banks of SBI Dear Sir, Remuneration payable to the Statutory Central and Branch Auditors of Public Sector […]
