Exemption under section 10(23C)(v) granted subject to exclusive application of income and section 11(5) investment limits.
Recognition under section 10(23C)(v) is granted to the trust for the stated assessment years on conditions that income be applied wholly and exclusively to its objects; investments or deposits of funds are limited to permitted forms or modes as specified in section 11(5) (with an allowance for voluntary contributions retained as jewellery, furniture, etc.); and business profits are excluded unless the business is incidental and maintained in separate books.

Rulemaking authority in securities regulation: government notifies prescribed form for SEBI annual accounts and recordkeeping.
The Central Government prescribes the Form of Annual Statement of Accounts and Records for the Securities and Exchange Board of India under powers conferred by the Securities and Exchange Board of India Act, 1992, creating a statutory obligation for SEBI to present and maintain annual accounts and records in the prescribed format; the rules were issued after consultation with the Comptroller and Auditor General as a government notification from the Ministry of Finance.

Modvat credit entitlement: inputs cleared under rule 57F may be credited for specified duties, subject to utilisation limits.
Modvat credit of duties and specified additional duties already paid on inputs is allowed when such inputs are used in or in relation to manufacture of listed final products and have been permitted to be cleared under Rule 57F; such credit may be utilised for payment of duty on the final products or, as applicable, on those inputs. Credits in respect of inputs from free trade zones or from hundred per cent export oriented undertakings and Electronic Hardware Technology Park units are restricted to an amount equal to the equivalent additional duty under the Customs Tariff. Credits attributable to textile-related additional duty or to goods-of-special-importance additional duty (or their Customs equivalents) must be utilised only towards payment of duties leviable under the corresponding enactments.

Credit of duty entitlements on inputs and capital goods revised, with invoice-based proof and procedural relaxations for manufacturers.
Amendments permit input credit on original invoices if duplicate copies are lost in transit with Assistant Collector satisfaction, replace gate pass requirements with invoice requirements (including triplicate invoices), omit certain sub-rules and notifications, and revise capital goods treatment by allowing duty calculation with quarterly credit deductions for removals, permitting temporary removal for testing or repair after Assistant Collector intimation, and enabling credit where contractors paid specified duty subject to prescribed procedures.

Customs duty reduction for almonds in shell follows amendment to tariff notification, adjusting import duty rates accordingly.
The Central Government, exercising powers under section 25(1) of the Customs Act, 1962, amended Notification No. 29/89 Customs by substituting the entry for Sl. No. 3 in the Table to prescribe revised import duty rates for goods under tariff heading 0802.11 (almond in shell), thereby modifying the applicable duty per kilogram for those goods.

Commencement of constitutional amendment: Central Government appoints a specified date for the Act to come into force.
The Central Government, invoking the authority conferred by sub section (2) of section 1 of the Amendment Act, appoints the 15th day of May, 1994 as the date on which the Constitution (Seventy-fifth Amendment) Act, 1993 shall come into force by official notification.

Compounded levy per cold rolling machine allows discharge of excise liability subject to application, declarations and reconciliation.
The scheme allows manufacturers who cold-roll stainless steel pattis/pattas to discharge excise liability by paying a government-notified sum per cold rolling machine for a specified period, subject to Collector-approved application procedures, monthly declarations, reconciliation of provisional payments for new or resumed factories, prohibition on input credit against the compounded payment, and conditions for exemption from specified procedural rules; non-compliance triggers duty recalculation at tariff rates, recovery of shortfalls, confiscation, penalty and debarment, with Collector discretion to condone failures and to adjust duties on cessation or reversion to normal procedure.

Compounded levy for cold rolling machines set at fixed monthly duty; pro-rata applied for the initial application month.
Fixes a compounded levy of rupees ten thousand per cold rolling machine per month for machines used in cold rolling stainless steel pattis/pattas under rule 96ZB. When a manufacturer first applies under rule 96ZA to avail special provisions, the duty for the month in which the application is granted shall be calculated pro rata based on total days in that month and days remaining from the grant date.

Duty reduction for motor vehicles: lower ad valorem rates and removal of petrol vehicle distinction for lighter vehicles.
The notification amends the central excise tariff table to reduce ad valorem duties on motor vehicles and to replace fuel type distinctions with a simplified weight based classification, aligning duty treatment irrespective of petrol or other fuel propulsion.

Invoice requirements for excisable stock mandate duty particulars and prior gate-pass details, with limited temporal validity.
Invoice prescribed as a duty-paying document for excisable goods in stock on the cut-off date when issued by a manufacturer or eligible wholesale distributor/dealer must state the rate and amount of duty in words and figures and any other particulars prescribed by the Collector or the Central Board; it must also record serial number, date and quantity of inputs shown on gate-passes issued prior to the cut-off date under rule 52A, and the prescription is of limited duration.

Raw sugar exemption from customs duty expanded to include raw sugar alongside refined sugar, broadening import duty relief.
The Central Government substituted the phrase excluding raw sugar in an earlier customs notification so that the exemption now expressly covers both refined sugar and raw sugar, thereby extending the miscellaneous exemption from basic and additional customs duty to raw sugar imports.

Specification of Exchange Risk Administration Fund recognizes the fund as qualifying for tax treatment under section 10(23E).
The Central Government, under clause (23E) of section 10 of the Income-tax Act, specifies the Exchange Risk Administration Fund set up by Power Finance Corporation Limited as qualifying for the purposes of that clause, identifying Power Finance Corporation as a public financial institution notified under the Companies Act and thereby effectuating statutory recognition for the fund's tax treatment.

SSI exemption: brand name restriction inapplicable to goods of Heading 83.01 under amended central excise notification.
The substituted proviso provides that paragraph 4 shall not apply to goods of Heading 83.01 bearing a name or mark (such as symbol, monogram, label, signature, invented word or writing) in respect of which no person has the right as proprietor or user to use such name or mark in respect of the said goods.

Restriction on sale of wind generator parts clarified by narrowing exemption language, confining relief to specified listed goods.
The Central Government amends Notification No. 64/94-Customs by substituting, in part (ii) of the undertaking, the phrase "the same" with "in respect of goods specified against S. No. 1 in column (2) of the said Table, the same," thereby confining the undertaking's application to the goods listed at that table entry.

Customs airport appointment: Visakhapatnam airport designated for loading and unloading all classes of export and import cargo.
Visakhapatnam airport is appointed as a customs airport for loading export goods and unloading imported goods of all classes under the authority of clause (a) of section 7 of the Customs Act, 1962, and this appointment supersedes the earlier government notification previously designating the airport for such purposes.

Licence validity for customs house agents extended; renewals conditioned on Collector assessed performance and absence of delays or misconduct.
The amendment provides that a licence under the Customs House Agents Licensing Regulations shall be valid for five years and may be renewed for successive five year periods. The Collector of Customs may renew a licence on timely application if the licensee's performance is satisfactory, with renewal criteria including conformity of cargo quantity or value to Collector prescribed norms, absence of delays in clearance or duty payment attributable to the licensee, and absence of complaints of misconduct including non compliance with licensee obligations.

Proforma credit facility extended to woollen and narrow woven fabrics, amending earlier central excise notification under rule authority.
Government amends a prior excise notification to extend the proforma credit facility by inserting two new serial entries in the annexed Table, listing woollen fabrics under Heading 51.07 and narrow woven fabrics under sub-heading 5806.10, and associating each with the relevant tariff classification entries.

Excise exemption for specific stainless steel, aluminium and copper items applies when processed or used captively in utensil manufacture.
Amendments insert nil-duty entries: stainless steel pattis/pattas (72.19/72.20) exempt when subjected to any process other than cold rolling; stainless steel, aluminium and copper circles (72.22, 76.06, 74.09) exempt when used within the factory of production in the manufacture of utensils.

Brand name restriction relaxed for SSI exemption: goods with unclaimed symbols or invented marks excluded from paragraph 4.
Notification 105/94 amends Notification No.1/93 by inserting a proviso that paragraph 4 shall not apply to goods under Heading 83.01 bearing a symbol, monogram, label, signature, invented word or writing in respect of which no person has proprietary or user rights to use such name or mark.

Split air-conditioner duty reduced for passenger transport vehicles, lowering excise burden through a tariff notification amendment.
The Central Government amended Notification No. 46/94-Central Excises by inserting entry 12A in the annexed Table to classify split air-conditioners intended for use in passenger transport motor-vehicles of specified higher gross vehicle weight and to prescribe a 30% ad valorem excise duty under Heading 84.15.