Tax exemption under section 10(23C)(v) granted to Sri Aurobindo Society subject to conditions on income application.
Notification under section 10(23C)(v) notifies Sri Aurobindo Society, Calcutta, for assessment years 1992-93 to 1994-95 subject to conditions: the society must apply or accumulate income wholly and exclusively for its objects; funds (except certain voluntary contributions held as physical items) must be invested only in modes specified in section 11(5); and profits and gains of business are excluded unless incidental to objectives with separate books maintained.

Income-tax exemption for charitable trust conditioned on exclusive application of income, restricted investments, non-distribution, and segregated business accounts.
Notification grants tax-exempt status to the Triangle Tennis Trust subject to conditions: apply or accumulate income exclusively to its objects per section 11 as modified by clause (23); restrict investments to specified forms or Board-notified articles for prescribed periods; do not distribute income to members except as grants to affiliated bodies; and exclude business profits unless the business is incidental and separate books of account are maintained.

Appellate authority designated to hear appeals from orders of specified adjudicating authorities under the Foreign Trade Act.
Specified officers are authorised to function as Appellate Authority to hear appeals against orders of designated adjudicating authorities under the Foreign Trade (Development & Regulation) Act; a table lists the adjudicating posts (Controllers of Imports & Exports; various Director General/Deputy/Joint/Assistant/Additional Director grades; Development Commissioner, Export Processing Zone) and designates the corresponding appellate officeholders, including an Additional Secretary in the Ministry of Commerce aided by two Joint Secretaries and a Director.

Customs amendment alters official designation and adds Nonferrous Materials Technology Development Centre to exemption schedule.
The Government, exercising sub-section (1) of section 25 of the Customs Act, 1962, amends Notification No. 128/93-Cus by substituting the designation "Under Secretary to the Government of India" for "Deputy Secretary to the Government of India" in the proviso to paragraph 1, clause (ii), and by inserting a new Table entry after serial number 50 for the Nonferrous Materials Technology Development Centre, Hyderabad.

Debenture trustee regulation: SEBI promulgates regulatory framework for debenture trustees under statutory authority of the SEBI Act.
SEBI, exercising the power conferred by section 30 of the SEBI Act with the prior approval of the Central Government, promulgated the Securities and Exchange Board of India (Debenture Trustees) Regulations as a statutory regulatory instrument governing debenture trustees.

Tax exemption notification for charitable society subject to exclusive application of income and restricted investment and business conditions.
Notification under sub clause (v) of clause (23C) of section 10 notifies Jesuits of Santal Society, Dumka, Bihar as eligible for exemption for assessment years 1990 91 to 1992 93, subject to conditions requiring exclusive application of income to objects, restricted modes of investment per section 11(5) (except specified voluntary contributions), and exclusion of business income unless incidental and separately accounted.

Tax exemption notification grants charitable status to Jesuits of Santal Society for a specified assessment year under income tax law.
The Central Government, exercising powers under sub clause (v) of clause (23C) of section 10 of the Income tax Act, issued Notification S.O.484 (Notification No. 9438/F. No. 197/132/93-ITA-I) dated 28 12 1993 to notify Jesuits of Santal Society, Dumka, Bihar, as covered by that sub clause for the assessment year 1989 90, thereby registering the Society for the corresponding tax treatment.

Tax exemption under section 10(23C)(v) granted to a religious charity, conditional on income use and investment limits.
Notification under Section 10(23C)(v) confers tax-exempt status on Calcutta Zoroastrain Community's Religious Charity Funds for specified assessment years, conditioned on applying or accumulating income wholly and exclusively to charitable objects, restricting investments to modes specified in subsection (5) of section 11 (with an exception for voluntary contributions held as jewellery or furniture), and excluding business income unless incidental and recorded in separate books.

Exchange rate determination fixes conversion rates for export goods under the Customs Act, effective January ninety-four.
Central Government determines the rate of exchange for specified foreign currencies for the purposes of the Customs Act in relation to export goods, effective 1 January 1994, superseding an earlier notification; conversion between listed foreign currencies and Indian currency for export transactions shall be at the rates set out in Schedule I (per one unit) and Schedule II (per 100 units) appended to the notification.

Exchange rate notification fixes official currency conversion rates for customs and stamp duty, effective from 1 January 1994.
Prescribes official exchange rates for conversion between specified foreign currencies and the Indian rupee for purposes of stamp duty under the Indian Stamp Act, 1899 and for section 14 of the Customs Act, 1962 relating to imported goods, superseding the prior notification, and declaring the rates in the appended Schedules I and II as the operative rates for conversion into Indian currency or vice versa from the stated commencement date.

Exemption to aeroplane spare parts: customs duty above a minimal ad valorem rate exempt; servicing spares also free of additional duty.
The Central Government exempts aeroplane parts (excluding rubber tyres and tubes), aeroplane engines, aeroplane engine parts, and rubber tyres and tubes used exclusively for aeroplanes, when imported into India, from that portion of customs duty specified in the First Schedule to the Customs Tariff Act, 1975 which is in excess of 3% ad valorem; items (a), (b) and (c) imported as spare parts for servicing are further exempt from the whole of the additional duty leviable under section 3 of the said Act.

Excise duty wording amendment clarifies that additional duty under the Customs Tariff Act is treated as already paid.
Amendment substitutes the words in the Table to Notification No. 31/93-C.E., against Sl. No. 50, column (3), replacing "has already been paid." with the words that payment may be made "under the said Schedule, or as the case may be, the additional duty leviable under the Customs Tariff Act has already been paid," clarifying the reference to additional duty within that Table entry.

Customs warehousing amendment includes goods for supply to export units and domestic users when stored at approved ports.
Exercising the powers under section 61, the Government substitutes item 7 of Notification No.10/92-Cus. (N.T.) and omits the terminal 'and' in item 6, adding: (a) goods imported and stored in private or public bonded warehouses in an Export Processing Zone for supply to EPZ units or export oriented undertakings; and (b) raw materials, components and spare parts, excluding those in the Import Policy Negative List, imported for stock and subsequent sale to actual users in India when warehoused in Customs-approved warehouses at specified ports.

Customs exemption amendments: duty equalisation for scrap and domestic sale subject to bonds and export policy compliance.
Amendments clarify that waste and scrap from zone manufacture cleared to other parts of India are chargeable to excise or, if not excisable, to customs duty equal to import duty; require importers to execute bonds to secure export obligations and duty on goods not used in export manufacture; permit domestic sale of articles (including rejects, waste and scrap) from approved hundred percent export units and of electronics hardware or software made within units subject to Export and Import Policy conditions and payment of excise or equalised customs duty; and exclude goods imported by aquaculture units from the notification.

Customs exemption for aquaculture inputs permits duty-free import for integrated farms, subject to export obligations and bond conditions.
Exemption from customs and related additional duties is provided for specified goods imported for use in an integrated aquaculture farm by approved 100% Export Oriented Undertakings, covering capital goods, material handling equipment, spares, office equipment, captive power plants and production tools. The exemption requires prior approval, execution of a bond and a Development Commissioner's certificate, observance of export obligations for ten years or as extended, payment of customs duty on depreciated value if the unit ceases to be an approved EOU, permission for limited domestic sale under the Export and Import Policy subject to excise duty, and may be subject to re-export conditions imposed by the Collector of Customs.

Exemption to imported goods for earthquake victims extended, prolonging the application deadline under the cited customs notification.
The Central Government amends Notification No. 175/93-Cus by substituting the expiry date in paragraph (2), extending the period during which imported goods for earthquake victims qualify for the customs exemption; the amendment is limited to the change of the terminal date and does not modify other substantive conditions of the original notification.

Exemption for rags and trimmings from excise when produced in export oriented undertakings and sold in India.
The notification exempts rags, trimmings and tailor cuttings from the whole of the duty of excise when produced in a hundred per cent export oriented undertaking or a free trade zone and allowed to be sold in India under the Export and Import Policy, subject to the percentage of waste not exceeding the limit fixed by the Board of Approvals for hundred per cent export oriented undertakings.

Duty floor for EHTP unit goods: exemption subject to not being lower than duty on like goods outside preferential zones.
The amendment substitutes the proviso to require that duty payable on goods manufactured in an EHTP unit under the exemption shall not be less than the excise duty leviable on like goods produced outside export oriented undertakings, export processing zones or EHTP units as specified in the Schedule and relevant notifications; the minimum duty rule does not apply to goods chargeable to a nil rate under the Customs Act as read with applicable notifications.

Excise exemption for export-oriented production limits domestic excise to a customs-derived benchmark while preserving minimum duty.
Exemption grants that excisable goods produced in a hundred per cent export-oriented undertaking or free trade zone and allowed to be sold domestically are exempt from excise duty to the extent that duty exceeds an amount calculated by reference to fifty per cent of the customs duties leviable on like imported goods. A floor is maintained: duty under this notification cannot be less than the excise duty applicable to like goods produced outside such units as determined by existing central excise notifications and rules. Electronics Hardware Technology Park units approved under the specified scheme are excluded from this exemption.

Exemption for earthquake victims extended by central excise notification; prior expiry substituted with 31 March 1994 deadline.
The Central Government amends Notification No. 97/93 Central Excises to extend the period of the exemption for earthquake victims by substituting the earlier expiry date in paragraph (2) of the principal notification with a later date, thereby prolonging the duration of the exemption.