In supersession to CBDT Instruction No. 1857 issued on 19-9-1990 vide F. No. 316/22/1989-OT for auction of properties purchased under Chapter XX-C of the Income-tax Act, 1961, comprehensive instructions on the modalities of fixing the reserve price for auction of properties acquired under Chapter XX-C are as under :
I am directed to circulate a Draft policy on Units in Special Economic Zones (SEZs) carrying on recycling of plastic scrap or waste and invite comments/suggestions on the same in order to finalize the Policy on Plastic Recycling Units in SEZs.
CBDT has issued an instruction which contains the guidelines and manual on sharing of information among treaty partners. The manual deals with both inbound and outbound request for information.
After going through several decisions of the Hon’ble Supreme Court and the nature of defects in relation to the appeals as pointed out by the Registry, certain common discrepancies/mistakes are noticed which are outlined below :
With regard to the adjustment of refunds against the outstanding demands, various communications have been issued in the past. A brief reference of the same is as under:
Your attention is invited to the statutory provisions by which committee of two Commissioners/Chief Commissioners have been constituted to review the orders passed by the appellate Commissioners/Commissioners as original adjudicating authority.
Trade has represented that with the growing container traffic in India, allowing the importers to transfer the goods from foreign containers to domestic shipping containers under Customs supervision in respect of imported goods lying uncleared for more than five days in a Customs area (CFSs / ICDs), can prove beneficial in reducing outflow on account of foreign exchange payments for foreign shipping containers and help Indian trade and industry to become more cost effective.
Instances have come to notice of the Board that clearance of some containers were allowed without filing of Bill of Entry and payment of Customs duty by using forged signatures of Customs officials on manual Out of Charge orders (gate passes) leading to substantial loss of revenue to the Government exchequer. These cases highlight the high propensity to commit fraud and duty evasion.
Order of the Supreme Court in Writ Petition (Civil) No. 657 of 1995 in the matter of Research Foundation for Science, Technology & Natural Resource Policy Vs Union of India (UOI), relating to Ship-breaking-
I am directed to refer to this Ministry’s letter of even no. dated 31-7-2012 on the subject cited above and say that wherever fee on pending cases under sections 17, 18, 19, 141 and 188 of the Companies Act, 1956 have already been paid by the companies/stakeholders at the time of filing of petition, consequent upon the transfer of applications/petitions from Company Law Board to the concerned Regional Directors,
