Explore the Supreme Court judgment in CIT vs. Sunil J. Kinariwala (Appeal 1899/2002) dated 10/12/2002. Delve into the legal intricacies surrounding the assignment of income, diversion by overriding title, and the impact on taxation. Gain insights into the arguments presented, court decisions, and the broader implications of this significant case in tax law.
In exercise of the powers conferred by sub-section (1) of the section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, 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 erstwhile Ministry of Finance (Department of Revenue), No. 21 / 2002-Customs, dated the 1st March, 2002, namely.
In exercise of powers conferred by sub-section (2) of section 9A of the Customs Tariff Act, 1975 (51 of 1975), read with rule 13 and rule 20 of the Customs Tariff (Identification, Assessment and Collection of Anti-dumping Duty on Dumped Articles and for determination of Injury) Rules, 1995, the Central Government hereby rescinds the notification of the Government of India in the erstwhile Ministry of Finance (Department of Revenue), No. 132/2001-Customs, dated the 28th December, 2001 [G.S.R.627 (E), dated the 28th December, 2001], except as respects things done or omitted to be done before such rescission.
Notification No. 364-Income Tax It is notified for general information that enterprise/industrial undertaking, listed at para (3) below has been approved by the Central Government for the purpose of section 10(23G) of the Income-tax Act, 1961, read with rule 2E of the Income tax Rules, 1962, for the assessment years 2002-2003 2003-2004 and 2004-2005.
This has reference to the circulars issued by SEBI for reporting of FIIs trades/ investments in equity as well as debt through the local custodians by submission of floppies as well as hard copy.
DGFT issues amendments to the Export and Import Policy 2002-2007, updating chemical and engineering product entries.
The Designated Authority had considered it necessary to impose anti-dumping duty, provisionally, pending final determination, on all imports of said Cold Rolled Flat Products, originating in, or exported from, the European Union, Japan, Canada and the Unites States of America.
The principal notification No. 16/2002-Customs (N.T.), dated the 7th March, 2002 was published in the Gazette of India Extraordinary Part II, Section 3, sub-section (i), dated the 7th March, 2002 under G.S.R. No. 172 (E) and was amended vide notification no. 37/2002-Cus. (N.T.), dated the13th June, 2002 published in the Gazette of India Extraordinary Part II, Section 3, sub-section (i), dated the 13th June, 2002.
The principal notification No. 14/2002-Customs (N.T.), dated the 7th March, 2002 was published in the Gazette of India Extraordinary Part II, Section 3, sub-section (i), dated the 7th March, 2002 under G.S.R. No. 170 (E) and was amended vide notification No. 35/2002-Cus. (N.T.), dated the13th June, 2002, published in the Gazette of India Extraordinary Part II, Section 3, sub-section (i), dated the 13th June, 2002.
It has been decided to continue with the earlier policy provision of permitting regional licencing authorities to issue advance licence in respect of Petroleum and Petrochemical Products to be manufactured from crude oil upto a limit of a CIF value of Rs 500 crores. Hence paragraph 4.8 pertaining to the “Financial Powers” is deleted.
