Confiscation authority delegated to Assistant and Deputy Commissioners for minor valuation discrepancies under a prescribed threshold.
The Central Government directs that confiscation powers under clause (a) of section 122 of the Customs Act, 1962, normally exercisable by a Principal Commissioner or Commissioner of Customs, shall also be exercisable by an Assistant Commissioner of Customs or Deputy Commissioner of Customs in cases of under-valuation or over-valuation of goods where the extent of such under-valuation or over-valuation is less than Rs. 10,000/-.

Exemption under section 35(1)(ii): Institute approved by prescribed authority, enabling research expenditure tax relief.
The Indian Council of Medical Research, as the prescribed authority, has approved the Post graduate Institute of Medical Education and Research, Chandigarh for purposes of clause (ii) of sub section (1) of section 35 of the Income tax Act, establishing the Institute's eligibility as an approved research institution for the relevant tax exemption.

Research institution exemption confirmed for an agricultural institute following prescribed-authority approval, enabling income-tax research deduction eligibility.
Nimbkar Agricultural Research Institute, Phaltan, received prescribed-authority approval to qualify as an approved research institution for income tax exemption purposes, granted initially for a fixed three-year term and communicated by formal notification.

Designation under Section 194A: Market Committees notified as specified entities, clarifying withholding tax treatment under the Income Tax Act.
Central Government notifies Market Committees established under the State Agricultural Produce Markets Acts as the entities specified for the purposes of sub clause (f) of clause (iii) of subsection (3) of section 194A of the Income tax Act, 1961 (Notification No. S.O.2203 dated 16 6 1970), thereby bringing those committees within the withholding tax mechanism prescribed by that provision.

Tax deduction under Section 80G: government notifies Shri Shantesh Maruthi Devasathan as archaeological and artistic.
The Central Government notifies Shri Shantesh Maruthi Devasathan, Hirekerur, Dist. Dharwar to be of archaeological and artistic importance for purposes of Section 80G, thereby fixing its status under the statutory tax regime governing deductions related to culturally significant institutions.

Notification under section 80G: temple declared of archaeological and artistic importance enabling tax-deduction eligibility for donations.
The Central Government notifies Shri Devenathaswamy Temple, Cuddalore, as of archaeological and artistic importance for the purposes of the specified provision of the Income-tax Act, thereby subjecting the temple to the regulatory treatment associated with that designation under the Act.

Annuity deposit interest rate notified under section 280D, fixing the applicable annual interest for 1970-71 deposits.
The Central Government, in exercise of powers under the Income-tax Act, 1961, notifies that annuity deposits made or recovered during the specified year shall bear the prescribed annual interest rate, thereby fixing the rate to be applied for interest computation on those annuity deposits under the Act.

Assistance authority: Central Reserve Police Force members designated to assist customs officers in executing the Customs Act.
The Central Government, under clause (e) of section 151 of the Customs Act, 1962, specifies members of the Central Reserve Police Force as the other officers of the Central Government empowered and required to assist officers of Customs in the execution of the Act.

Exemption under Section 35(1)(ii) approved for M. Visvesvaraya Industrial Research and Development Centre as research institution.
The Council of Scientific and Industrial Research, as the prescribed authority, has approved M. Visvesvaraya Industrial Research and Development Centre for the purposes of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961, thereby recognising the institution for the statutory research-related exemption provided under that clause.

Customs duty exemption for backing materials limits chargeable duty above specified ad valorem for manufacturing use, subject to bond.
Exemption from customs duty is provided for backing paper and backing board imported for manufacture of coated abrasives by relieving that portion of duty in the First Schedule which exceeds 35 per cent ad valorem. The exemption is subject to a bond, prescribed by the Assistant Collector of Customs, under which the importer must pay on demand the difference between duty chargeable absent the exemption and duty paid at importation for any quantity not proved to have been used for the specified manufacturing purpose.

Section 194A notification: District, Taluka, Nagar and Gram Panchayats in Gujarat notified for applicability of the provision.
The Central Government notifies District, Taluka, Nagar and Gram Panchayats constituted under the Gujarat Panchayats Act within the State of Gujarat as entities covered by the withholding tax provision under the Income-tax Act, thereby designating those local bodies for the statutory purpose of that provision.

Income-tax appellate procedure now requires triplicate stay petitions with detailed affidavit, attachments, and possible security.
The amendment allows the President or, in his absence, the seniormost Member to transfer appeals between Benches at the same headquarters; and inserts Rule 35-A prescribing that stay applications for recovery of tax-related demands be presented in triplicate, typed in English, separately for different enactments, and must state concise facts, prior proceedings, exact amounts, prior stay requests, reasons, offer of security, specific prayers, be supported by affidavit, and be accompanied by three copies of assessment orders and documents; noncompliant applications may be summarily rejected. Rule on statements requires filing certified annexures or forwarding to the High Court without them if default occurs.

Exemption u/s 35(1)(ii) recognition: institution approved by prescribed authority confirming research related tax eligibility.
The notification records that the named institution has been approved by the prescribed authority for purposes of exemption u/s 35(1)(ii), confirming its eligibility under clause (ii) of sub section (1) of the income tax provision related to research linked tax treatment.

Delegation of customs powers permits Joint and Assistant/Deputy Commissioners in Goa to exercise specified Commissioner functions.
The Central Government directs that powers exercisable by the Principal Commissioner or Commissioner under the proviso to sub section (3) of section 46, and under the first proviso to section 61 (clause (i)), shall also be exercisable by the Joint Commissioner of Customs and Central Excise, Goa and by the Assistant Commissioner or Deputy Commissioner of Customs, Goa, effecting delegation of those commissioner-level functions.

Institution for care of handicapped persons notified under section 80D, enabling charitable deduction recognition for donors.
Notification designates Occupational Therapy Home for Children, Karol Bagh, New Delhi as an institution for the care of handicapped persons under section 80D of the Income tax Act, 1961, issued by the Central Government pursuant to clause (i) of sub section (2).