Title : Amendment of Section 129
State : Central
Year : 2007
In section 129 of the Customs Act, after sub-section (5), the following sub-section shall be inserted, namely:-- "(6) On ceasing to hold office, the President, Vice-President or other Member shall not be entitled to appear, act or plead before the Appellate Tribunal.". View Complete Act List Judgments citing this sectionTitle : Amendment of Section 31
State : Central
Year : 2007
In section 31 of the Central Excise Act, with effect from the 1st day of June, 2007, for clause (c), the following clause shall be substituted, namely:-- '(c) "case" means any proceeding under this Act or any other Act for the levy, assessment and collection of excise duty, pending before an adjudicating authority on the date on which an application under sub-section (1) of section 32E is made: Provided that when any proceeding is referred back in any appeal or revision, as the case may be, by any court, Appellate Tribunal or any other authority, to the adjudicating authority for a fresh adjudication or decision, as the case may be, then such proceeding shall not be deemed to be a proceeding pending within the meaning of this clause;'. View Complete Act List Judgments citing this sectionTitle : Amendment of Section 32a
State : Central
Year : 2007
In section 32A of the Central Excise Act, after the proviso to sub-section (6), the following proviso shall be inserted, namely:-- "Provided further that at any stage of the hearing of any such case or matter, referred to in the first proviso, the Chairman may, if he thinks that the case or matter is of such a nature that it ought to be heard by a Bench consisting of three Members, constitute such Bench and if Vice-Chairman is not one of the Members, the senior among the Members shall act as the presiding officer of such Bench.". View Complete Act List Judgments citing this sectionTitle : Amendment of Section 35f
State : Central
Year : 2007
In section 35F of the Central Excise Act, after the second proviso, the following Explanation shall be inserted, namely:-- 'Explanation.--For the purposes of this section "duty demanded" shall include,-- (i) amount determined under section 11D; (ii) amount of erroneous CENVAT credit taken; (iii) amount payable under rule 57CC of Central Excise Rules, 1944; (iv) amount payable under rule 6 of CENVAT Credit Rules, 2001 or CENVAT Credit Rules, 2002 or CENVAT Credit Rules, 2004; (v) interest payable under the provisions of this Act or the rules made thereunder.'. View Complete Act List Judgments citing this sectionTitle : Secondary and Higher Education Cess on Excisablegoods
State : Central
Year : 2007
(1) The Secondary and Higher Education Cess levied under section 136, in the case of goods specified in the First Schedule to the Central Excise Tariff Act, 1985(5 of 1985), being goods manufactured or produced, shall be a duty of excise (in this section referred to as the Secondary and Higher Education Cess on excisable goods), at the rate of one per cent., calculated on the aggregate of all duties of excise (including special duty of excise or any other duty of excise but excluding Education Cess chargeable under section 93 of the Finance (No. 2) Act, 2004(2 of 2004) and Secondary and Higher Education Cess on excisable goods) which are levied and collected by the Central Government in the Ministry of Finance (Department of Revenue), under the provisions of the Central Excise Act,..... View Complete Act List Judgments citing this sectionTitle : Amendment of Section 115 Wb
State : Central
Year : 2007
In section 115WB of the Income-tax Act, with effect from the 1st day of April, 2008-- (A) in sub-section (1),-- (i) in clause (b), the word "and" occurring at the end shall be omitted; (ii) in clause (c), for the word "employees", the words "employees; and" shall be substituted; (iii) after clause (c), the following clause shall be inserted, namely: -- '(d) any specified security or sweat equity shares allotted or transferred, directly or indirectly, by the employer free of Cost or at concessional rate to his employees (including former employee or employees). Explanation.--For the purposes of this clause,-- (i) "specified security" means the securities as defined in clause (h) of section 2 of the Securities Contracts (Regulation) Act, 1956(42 of 1956) and includes..... View Complete Act List Judgments citing this sectionTitle : Amendment of Section 245a
State : Central
Year : 2007
In section 245 A of the Income-tax Act, with effect from the 1st day of June, 2007,-- (a) for clause (b), the following clause shall be substituted, namely:-- '(b) "case" means any proceeding for assessment under this Act, of any person in respect of any assessment year or assessment years which may be pending before an Assessing Officer on the date on which an application under sub-section (1 of section 245C is made: Provided that-- (i) a proceeding for assessment or reassessment or recomputation under section 147; (ii) a proceeding for assessment or reassessment for any of the assessment years referred to in clause (b) of section 153 A in case of a person referred to in section 153 A or section 153C; (iii) a proceeding for assessment or reassessment for the assessment year..... View Complete Act List Judgments citing this sectionTitle : Insertion of New Section 271 Aaa
State : Central
Year : 2007
In the Income-tax Act, after section 271AA, the following section shall be inserted, namely:-- '271 AAA. Penalty where search has been initiated.-- (1) The Assessing Officer may, notwithstanding anything contained in any other provisions of this Act, direct that, in a case where search has been initiated under section 132 on or after the 1st day of June, 2007, the assessee shall pay by way of penalty, in addition to tax, if any, payable by him, a sum computed at the rate of ten per cent. of the undisclosed income of the specified previous year. (2) Nothing contained in sub-section (1) shall apply if the assessee,-- (i) in the course of the search, in a statement under sub-section (4) of section 132, admits the undisclosed income and specifies the manner in which such income has..... View Complete Act List Judgments citing this sectionTitle : Amendment of Section 22a
State : Central
Year : 2007
In section 22A of the Wealth-tax Act, with effect from the 1st day of June, 2007,-- (a) for clause (b), the following shall be substituted, namely:-- '(b) "case" means any proceeding for assessment under this Act, of any person in respect of any assessment year or assessment years which may be pending before an Assessing Officer on the date on which an application under sub-section (1) of section 22C is made: Provided that-- (i) a proceeding for assessment or reassessment under section 17; (ii) a proceeding for making fresh assessment in pursuance of an order under section 23A or section 24 or section 25, setting aside or cancelling an assessment; (iii) a proceeding for assessment or reassessment which may be initiated on the basis of a search under section 37A or..... View Complete Act List Judgments citing this sectionTitle : Amendment of Section 75a
State : Central
Year : 2007
In section 75 A of the Customs Act, for sub-section (2), the following sub-section shall be substituted, namely:-- "(2) Where any drawback has been paid to the claimant erroneously or it becomes otherwise recoverable under this Act or the rules made thereunder, the claimant shall, within a period of two months from the date of demand, pay in addition to the said amount of drawback, interest at the rate fixed under section 28AB and the amount of interest shall be calculated for the period beginning from the date of payment of such drawback to the claimant till the date of recovery of such drawback.". View Complete Act List Judgments citing this section