In the present case the ITAT has recorded that it is undisputed that the two aircrafts were used by the Assessee for its business. Since this is the undisputed factual position, the same would be exempt from wealth tax.
The question as to whether the expenditure incurred on replacement of machinery is revenue or capital expenditure, particularly in the nature of replacements of parts, thus rests on the nature of expenditure incurred, vis-a-vis the benefit that the assessee derives.
In exercise of the powers conferred by Section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs hereby makes the following further amendments in the Notification of the Government of India, Ministry of Finance
In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs, being satisfied that it is necessary and expedient so to do, hereby makes the following amendment in the
These regulations shall apply to baggage including any package comprised therein of the passengers coming to India. These regulations will come into effect w.e.f. 1st January, 2014.
Whereas, in the matter of import of Hot Rolled Flat Products of Stainless Steel-304 grade classified within Chapter 72 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) (hereinafter referred to as the Customs Tariff Act),
Whereas, the designated authority vide notification F.No. 15/10/2013-DGAD, dated the 18th July, 2013, published in the Gazette of India, Extraordinary, Part I, Section 1, dated the 18th July, 2013, had initiated review in terms of sub-section (5) of
Investment by a registered FII under the Portfolio Investment Scheme would be permitted up to 24% only in the CICs listed at the Stock Exchanges, within the overall limit of 49% for foreign investment.
Notification No. 66/2013 – Income Tax S.O. 2642(E) – In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies for the purposes of the said clause, the Karnataka State AIDS Prevention Society a body constituted by the Government of Karnataka in respect of the following specified income arising to that Society, namely:— “Amount received in the form of grants-in-aid from the Government of India and State Government”
In pursuance of the powers conferred by sub-section (1) of section 8 of the Foreign Trade (Development and Regulation) Act, 1992 (22 of 1992), the Director General of Foreign Trade hereby authorises the Officers specified in column (2) of the Table below to exercise the powers specified.
