Exemption under section 35AC extended to a rural medical healthcare project, preserving tax-relief eligibility for donors.
The Central Government, under the Explanation to section 35AC, specified the Rural Medical Health Care Curative and Preventive Measures at Kankhal by Ramkrishna Mission Sevashrama as an eligible project for tax exemption and, following a recommendation by the National Committee on proper execution, re-specified the project for a further assessment-period extension, noting the project's estimated cost to permit continued availability of the section 35AC benefit.

Exemption under section 35AC extended for construction of Ujjain Charitable Trust Hospital, preserving donor tax relief for the extended period.
The Central Government, acting under the Income-tax Act, specifies the construction of Ujjain Charitable Trust Hospital and Research Centre at Budhwaria as an eligible project for purposes of exemption under section 35AC, following a National Committee recommendation, and extends that specification for a further two assessment years commencing from the assessment year 1997-98 at the stated estimated project cost.

Exemption under section 35AC: construction of tribal residential school with vocational centre specified as eligible project for further year.
Exemption under section 35AC: the Central Government extends specification of the construction of Saraswati Vidhya Mandir Residential High School for tribals with a Vocational Training Centre at Village Ratanpur by Bhartiya Shikshan Avam Shedh Parishad, Bihar, as an eligible project for tax exemption for one further assessment year (assessment year 1997-98) on the National Committee's recommendation, at an estimated project cost of one crore sixty-nine lakhs sixty-nine thousand rupees.

Drawback rule extensions permit exporters extra time to file claims subject to customs officer satisfaction and specified deadlines.
Amendments to the Drawback Rules replace the proviso to the three month filing period to allow the Assistant Commissioner to extend by a further three months and the Commissioner to extend by a further nine months where satisfied the exporter was prevented by sufficient cause, and substitute the transitional filing clause with a specified calendar deadline; the amendments take effect on publication.

Permission for entry or retention of duty-paid goods allowed by Board or Chief Commissioner under specified conditions.
Rule 173H is amended to renumber sub-rule (3) as (4), to allow the renumbered sub-rule to apply where goods are permitted under the new sub-rule (3), and to add that the Commissioner, Chief Commissioner or the Central Board may specify such permissions. The newly inserted sub-rule (3) authorises the Central Board, or the Chief Commissioner when authorised by the Board, to permit by general or special order, and subject to conditions and limitations, entry into or retention in a factory or warehouse of duty-paid goods or parts not specified in the existing sub-rule.

Definition of radio sets limited to receivers without recording or clock features, clarifying exemption scope.
The notification inserts an Explanation limiting Radio sets including transistor sets to apparatus that only receive radio signals and convert them into audio output; devices with any additional facility such as sound recording, sound reproducing, or a clock in the same housing or attached are excluded from that definition and hence from the exemption.

Tax exemption notification recognises a sports federation's income as exempt subject to conditions on application, investment, distribution and business income.
Notification under clause (23) of section 10 notifies the All India Football Federation, Cannanore, for specified assessment years subject to conditions: income must be applied or accumulated exclusively for its objects as per section 11 modifications; funds (other than voluntary contributions) must be invested only in forms specified in section 11(5) or in Board-notified articles under the third proviso; income cannot be distributed to members except as grants to affiliated bodies; business income is excluded from the notification unless incidental and separately accounted.

Tax exemption under section ten twenty three: federation notified subject to conditions on application, investment and business.
Notification designates the All India Football Federation, Cannanore, as eligible for tax exemption for specified assessment years provided it applies or accumulates income solely for its objects, restricts investments and deposits to prescribed forms and modes (with limited tangible retention of voluntary contributions), does not distribute income to members except by grants to affiliated bodies, and excludes business profits from the exemption unless incidental to its objects with separate books maintained.

Exemption under section 35AC: approval of a company project permitting a capped capital expenditure deduction.
The Central Government, on the National Committee's recommendation, approves Natco Pharma Limited as eligible for the targeted income-tax exemption for an identified road construction project, states the project's estimated cost and prescribes the maximum portion of that cost allowable as a deduction under the exemption provision; the approval is time-limited and remains in force for one year in relation to the specified assessment year.

Section 35AC exemption extended for Mata Gujari Old Age Home, granting eligibility for an additional assessment year.
Central Government specifies Mata Gujari Old Age Home, executed by Nishkam Sikh Welfare Council, New Delhi, as an eligible project under Section 35AC for a further one assessment year in relation to the assessment year 1997-98 at the estimated cost stated in the notification, acting under sub-section (1) read with clause (b) of the Explanation to Section 35AC following a National Committee recommendation under the Income-tax Rules, 1962.

Section 35AC project specification extended after National Committee recommendation, maintaining eligibility for further assessment years.
The Central Government, invoking sub section (1) read with clause (b) of the Explanation to section 35AC, re-specified the development and extension of educational, medical and sports facilities to rural areas in fifty villages around Ankleshwar as an eligible project for income-tax exemption purposes for a further two assessment years following the National Committee's recommendation that the project was properly executed.

Exemption under Section 35AC extended for specified construction project enabling continued tax relief for the scheme.
The Central Government, under Section 35AC, specifies the construction of a building with furnishing and fixtures for a centre at Nadiad by Mafatlal Industries Limited as an eligible project for income-tax exemption and, following the National Committee's recommendation that the project was properly executed, extends that specification for a further three assessment years commencing from the assessment year 1997-98.

Tax exemption under section 35AC extended to a health for all scheme running hospital and clinics, enabling eligible deductions.
Central Government specifies under Section 35AC that the "health for all" project run by Shree Bidada Sarvodaya Trust - comprising a 50 bedded hospital, general dispensary, child and mother care centre, T.B. clinic and medical camps on rheumatic heart diseases at Village Bidada - is an eligible project for tax exemption for a further two assessment years commencing from assessment year 1997 98, following a National Committee recommendation and at the stated estimated project cost.

Exemption under section 35AC extended to construction of an indoor badminton stadium for an additional assessment year.
Central Government extended the specification of the construction of an indoor badminton stadium at Bangalore by the Karnataka Badminton Association as an eligible project under the income tax provision, following a National Committee recommendation under the rules, for a further one assessment year in relation to assessment year 1997-98, and recorded the implementing agency and estimated project cost.

Section 35AC amendment updates notified beneficiary details, substituting Ishwar Eye Institute's institutional particulars in the notification.
The Central Government amends a tax-incentive notification, substituting the table entry relating to the Ishwar Eye Institute with the implementing entity and address: "Ishwar Charitable Trust (Ishwar Eye Institute)-ICARE, N-172, Panchshila Park, New Delhi," thereby updating the notified beneficiary details in the prior notification.

Exchange rate amendment for export goods updates notified currency conversion rates, becoming effective on the notified date.
Amendment to a customs notification substitutes exchange-rate entries for specified currencies in Schedule I and Schedule II of the earlier notification governing export goods; the Central Government, relying on statutory powers under the Indian Stamp Act and the Customs Act, updates those schedule entries and declares the revised rates effective from the notified date.

Exchange rate amendment for imported goods revises specified foreign currency conversion rates under customs notification.
Amendment to customs notification substitutes entries in Schedule I for serial Nos. 8, 12 and 15, replacing the conversion rates for Hong Kong Dollar, Swedish Kroner and Singapore Dollar; the Central Government, under statutory powers, fixes the revised rates and declares them effective from the specified date for valuation of imported goods.

Tax exempt NHPC bonds under section 10(15)(iv)(h) require holder registration to claim the tax exemption.
Central Government specifies tax exempt NHPC bonds as 10.5 per cent per annum Secured Redeemable Non convertible NHPC Bonds (I Series) qualifying under item (h) of clause (15) of section 10 of the Income tax Act. The notification identifies the series, denomination and aggregate issuance for that purpose and conditions admissibility of the exemption on the holder registering his or her name and holding with the issuing corporation.

Specification under section 80L: taxable secured redeemable non convertible bonds specified with issuer and issuance particulars.
The Central Government, under clause (ii) of sub section (1) of section 80L of the Income tax Act, specifies 16.25 per cent taxable secured redeemable non convertible bonds issued by the Power/Grid Corporation of India Ltd., denominated at Rs. 1,000 each, bearing distinctive numbers C 1160001 to C 2500000 and aggregating to the stated total, for the purpose of that clause.

Anti dumping investigation into imports of nitrile rubber from Germany and Korea initiated; parties invited to submit evidence.
A major domestic producer petitioned for an anti dumping investigation into Acrylonitrile Butadiene Rubber imports from Germany and the Republic of Korea, alleging exports below normal value based on submitted normal value estimates and adjusted export prices, and claiming prima facie material injury to the domestic industry; the Designated Authority has initiated an investigation and invited interested parties to submit written evidence within the prescribed time frame.