Circular No. 55/55/94-CX I am directed to forward herewith copy of notification No.37/94-Central Excises (NT) dated 2nd September , 1994. This notification seeks to prescribe the specimen forms etc. to be used by units opting for compounded levy scheme on stainless steel pattis and pattas introduced vide notification No.22/94-Central Excises (NT) dated the 13th may, 1994.
Circular No. 54/54/94-CX I am directed to say that one of the points recommended by the Rekhi Committee is that while assessing the monthly RT-12 Return, The Superintendent of Central Excise should be bound to follow the approved classification list. The “inquiry” to be made by him as envisaged in Rule 1731 does not extend to a review of the approved classification list.
Circular No. 691-Income tax NoCircular . 341, dated 10-5-1982 (Annex) had been issued in the, wake of the Supreme Court’s judgment in the case of Cloth Traders (P.) Ltd [1979] 118 ITR 243/1 Taxman 335. This decision was subsequently overruled by the Supreme Court in the case ofDistributors (Baroda) (P.) Ltd v. Union of India [1985] 155 ITR 120/22 Taxman 49 which therefore gives the correct legal position
Circular No.53/53/94-CX I am directed to invite your attention to Board”s Circular No. 14/88-CX.6 (F.No.212/30/87-CX.6) dated 2nd March, 1994 on the above subject wherein it was stated inter alia, that the powers of granting permission under Rule 56-B would vest in the Collectors only.
Circular No. 690-Income tax Reference is invited to Board’s Circular No. 654, dated the 22nd July, 1993, wherein the rates of deduction of income-tax from the payment of income under the head ‘Salaries’ under section 192 of the Income-tax Act, 1961, during the financial year 1993-94, were intimated. The present circular contains the rates of deduction of income-tax from the payment of income
Circular No. 52/52/94-CX I am directed to refer to notification No. 105/94-CE, dated 4.5.94 and notification No. 107/94-CE, dated 11.5.94 which were issued with a view to provide that in respect of goods falling under heading No. 83.01, the restriction on use of name or mark not belonging to any particular person will not apply for benefit of exemption / concession under notification No. 1/93-CE
Circular No. 689-Income tax owSection 143(1)(a) authorises, with effect from assessment year 1989-90, inter alia, disallowance of any loss carried forward, deduction, allowance or relief claimed which, on the basis of information available in the return or the accompanying accounts or documents, isprima facie inadmissible
Circular No. 688-Income tax A doubt has been raised whether graduate or post-graduate courses in architecture would be covered as a branch of engineering for the purpose of the tax concession under section 80E of the Income-tax Act.
Circular No. 687-Income tax Kisan Vikas Patras were introduced on 1st April, 1988. The Department of Economic Affairs, Ministry of Finance, in its notifications dated 23-3-1988, 16-12-1991, 24-4-1992 and 2-9-1993 had specified the amount payable on these after 2½ years and up to the date of maturity. However, interest and maturity amount during 2½ years had not been provided in these notifications
Circular No. 50/50/94-CX It has been brought to the notice of the Board that divergent practices are being followed in different Collectorates in extending the benefit of Notification No. 1/93-CE to branded elastic tapes. The brand name or logo of the customer is reported to be woven in the tape by the manufacturers.
