Title : Amendment of Section 156
State : Central
Year : 2007
In section 156 of the Customs Act, in sub-section (2), for clause (a), the following clause shall be substituted with effect from such date1 as the Central Government may, by notification in the Official Gazette, appoint, namely:-- "(a) the manner of determining the transaction value of the imported goods and export goods under sub-section (1) of section 14;". _______________________________ 1. w.e.f. 10.10.2007 as per Notification No. 93/2007-Customs (N.T.) dated 13.09.2007. View Complete Act List Judgments citing this sectionTitle : Amendment of Section 32-o
State : Central
Year : 2007
Section 32-O of the Central Excise Act shall be renumbered as sub-section (1) thereof and,-- (i) in sub-section (1) as so renumbered, for the word "Where", the words, figures and letters "Where, before the 1st day of June, 2007" shall be substituted; (ii) after sub-section (1) as so renumbered, the following sub-section shall be inserted with effect from the 1st day of June, 2007, namely: - "(2) Where an assessee has made an application under sub-section (1) of section 32E, on or after the 1st day of June, 2007 and if such application has been allowed to be proceeded with under sub-section (1) of section 32F, such assessee shall not be entitled to apply for settlement under section 32E in relation to any other matter: Provided that such assessee shall not be prevented from..... View Complete Act List Judgments citing this sectionTitle : Amendment of Act 32 of 1994
State : Central
Year : 2007
In the Finance Act, 1994 -- (A) in section 65, with effect from such date as the Central Government may, by notification in the Official Gazette, appoint1,-- (1) in clause (12),-- (a) in sub-clause (a),-- (i) for the words "or any other person", the words "or commercial concern" shall be substituted; (ii) in item (i), the following Explanation shall be inserted at the end, namely:-- 'Explanation.--For the purposes of this item, "financial leasing" means a lease transaction where-- (i) contract for lease is entered into between two parties for leasing of a specific asset; (ii) such contract is for use and occupation of the asset by the lessee; (iii) the lease payment is calculated so as to cover the full cost of the asset together with the interest charges; and (iv)..... View Complete Act List Judgments citing this sectionTitle : Amendment of Section 80-ic
State : Central
Year : 2007
In section 80-IC of the Income-tax Act, in sub-section (2), with effect from the 1st day of April, 2008 -- (i) in clause (a), in sub-caluse (i), for the figures, letters and words "1st day of April, 2012", the figures, letters and words "1st day of April, 2007" shall be substituted; (ii) in clause (b) in sub-clause (i), for the figures, letters and words "1st day of April, 2012", the figures, letters and words "1st day of April, 2007" shall be substituted. View Complete Act List Judgments citing this sectionTitle : Amendment of Section 245e
State : Central
Year : 2007
In section 245E of the Income-tax Act, after the proviso, the following proviso shall be inserted with effect from the 1st day of June, 2007, namely: - "Provided further that no proceeding shall be reopened by the Settlement Commission under this section in a case where an application under section 245C is made on or after the 1st day of June, 2007.". View Complete Act List Judgments citing this sectionTitle : Substitution of New Section for Section 245k
State : Central
Year : 2007
For section 245K of the Income-tax Act, the following section shall be substituted with effect from the 1st day of June, 2007, namely:-- "245K. Bar on subsequent application for settlement.-- (1) Where- (i) an order of settlement passed under sub-section (4) of section 245D provides for the imposition of a penalty on the person who made the application under section 245C for settlement, on the ground of concealment of particulars of his income; or (ii) after the passing of an order of settlement under the said sub-section (4) in relation to a case, such person is convicted of any offence under Chapter XXII in relation to that case; or (iii) the case of such person was sent back to the Assessing Officer by the Settlement Commission on or before the 1st day of June, 2002, ..... View Complete Act List Judgments citing this sectionTitle : Amendment of Section 296
State : Central
Year : 2007
In section 296 of the Income-tax Act, with effect from the 1st day of June, 2007, for the words, brackets, figures and letter "every notification issued under sub-clause (iv) of clause (23C) of section 10", the words, figures, letters and brackets "every notification issued before the 1st day of June, 2007 under sub-clause (iv) of clause (23C) of section 10" shall be substituted. View Complete Act List Judgments citing this sectionTitle : Amendment of Section 22e
State : Central
Year : 2007
In section 22E of the Wealth-tax Act, after the proviso, the following proviso shall be inserted with effect from the 1st day of June, 2007, namely:-- "Provided further that no proceeding shall be reopened by the Settlement Commission under this section in a case where an application under section 22C is made on or after the 1st day of June, 2007.". View Complete Act List Judgments citing this sectionTitle : Substitution of New Section for Section 22k
State : Central
Year : 2007
For section 22K of the Wealth-tax Act, the following section shall be substituted with effect from the 1st day of June, 2007, namely:-- "22K. Bar on subsequent application for settlement.--(1) Where,-- (i) an order of settlement passed under sub-section (4) of section 22D provides for the imposition of a penalty on the person who made the application under section 22C for settlement, on the ground of concealment of particulars of his net wealth; or (ii) after the passing of an order of settlement under the said sub-section (4) in relation to a case, such person is convicted of any offence under Chapter VIII in relation to that case; or (iii) the case of any such person was sent back to the Assessing Officer by the Settlement Commission on or before the 1st day of June, 2002,..... View Complete Act List Judgments citing this sectionTitle : Amendment of Section 127e
State : Central
Year : 2007
In section 127E of the Customs Act, after the proviso, the following proviso shall be inserted with effect from the 1st day of June, 2007, namely:-- "Provided further that no proceeding shall be reopened by the Settlement Commission under this section in a case where an application under section 127B is made on or after the 1st day of June, 2007.". View Complete Act List Judgments citing this section