Imports for project execution now require specified government certificates confirming necessity and project approval at customs clearance.
The amendment narrows exemption scope to goods imported for execution of projects financed by the United Nations or an international organisation and requires specified certificates at customs clearance: for UN financed approved projects, a certificate from an officer not below Deputy Secretary in the Ministry of Finance (Department of Economic Affairs); for projects financed by the World Bank, Asian Development Bank or other international organisations approved by the Government of India, a certificate from the executive head of the Project Implementing Authority countersigned by a Joint Secretary in the concerned Line Ministry; and where implementation is by a State/UT, countersignature by the Principal Secretary or Secretary (Finance) of that State/UT. The Explanation defines "international organisation" and "Line Ministry."

Specified securities investment preserves capital gain treatment when proceeds are invested in designated debentures and bonds, subject to a seven year reconversion rule.
The notification specifies that Noida Toll Bridge Company Limited may issue Fully Convertible Debentures and Deep Discount Bonds within one year for purposes of section 54EB, and that investment must be made from net consideration of a long term capital asset; if the allotted specified securities are transferred or converted into money within seven years of allotment, the initial investment shall be chargeable to tax as capital gain under the section.

Section 54EA investments permitted for reinvestment, with chargeback as capital gain if converted to money within the holding period.
The Central Board of Direct Taxes authorizes Noida Toll Bridge Company Limited to issue specified Fully Convertible Debentures and Deep Discount Bonds within one year for reinvestment under section 54EA; investments must be made from net consideration of a long-term capital asset. If allotted debentures or bonds are converted or transferred into money within three years of allotment, the initial investment will be chargeable to tax as capital gain in accordance with the section.

Consumer Welfare Fund composition change: Secretary as Chairman and Member Secretary role defined, and detailed Form A1 application requirements.
Amendment designates the Secretary, Department of Consumer Affairs as Chairman, adds the Director General, Bureau of Indian Standards as a member, and makes the Additional Secretary or Joint Secretary in charge of the Consumer Welfare Fund the Member Secretary. It substitutes FORM A1 requiring applicants to provide organisational details, registration and governance information, project description, itemised budget, implementation timetable, prior investments and funding sources, disclosures of prosecutions, and attested supporting documents including constitution, three years' annual reports and audited accounts, together with a signed declaration; the Member Secretary must verify and recommend applications to the Committee.

Tax exemption under section 10(23) granted to Church trust, subject to income application, investment, distribution and business conditions.
Notification grants tax exemption under section 10(23) to The Church of South India Trust Association, Chennai for assessment years 1998-99 to 2000-2001, conditioned on applying or accumulating income solely for its objects consistent with sections 11(2) and 11(3) as modified by clause (23); restricting investments to modes in section 11(5) except specified tangible voluntary contributions; prohibiting distribution of income to members except as grants to affiliated bodies; and excluding business profits unless incidental to objectives with separate books maintained.

Tax exemption under section 10(23C)(iv) notified for Krishnamurti Foundation India, subject to application and investment conditions.
Notification designates Krishnamurti Foundation India, Chennai as qualifying under section 10(23C)(iv) for specified assessment years, on conditions that income is applied wholly and exclusively to its objects, investments are made only in permitted forms with certain voluntary contributions in kind excepted, and business profits are excluded unless incidental to objectives and kept in separate books.

Tax exemption under section 10(23C)(v) granted with conditions on income application, investment modes, and incidental business accounting.
Notification under section 10(23C)(v) designates The Church of South India Trust Association, Chennai as eligible for exemption for assessment years 1999-2000 to 2000-2001, conditional on applying income wholly and exclusively to its objects, limiting investments and deposits (except certain voluntary contributions retained as jewellery or furniture) to forms specified in subsection (5) of section 11, and excluding profits and gains of business unless such business is incidental to its objectives with separate books maintained.

Charitable exemption notification: Chief Minister's Relief Fund recognised with conditions on application of income and permitted investments.
Notification recognises Chief Minister's Relief Fund, Maharashtra as eligible under clause (23C)(iv) of section 10 for the stated assessment years, subject to conditions: income must be applied or accumulated wholly and exclusively to the fund's objects; investments limited to forms/modes in sub-section (5) of section 11 except voluntary contributions retained in kind; and exclusion of business profits unless the business is incidental and separate books are maintained.

Customs exemption amendment adds supply of goods to Talcher II projects under special imprest licence per public notice.
Amendment adds a new sub clause to the Explanation to Notification No. 36/97 Customs, inserting an express authorisation for supply of goods to Talcher II and Talcher II transmission projects to be imported against the special imprest licence, in accordance with the Government's Public Notice No. 18 (RE: 99)/1997 2002, thereby expanding the exemption category under the notification.

Customs privilege engine-capacity threshold removed, broadening vehicle import eligibility for foreign privileged persons under amended rules.
Amendment removes the engine-capacity limitation from specified provisions of the Foreign Privileged Persons' (Regulation of Customs Privileges) Rules, 1957 by omitting the words and figures referring to engine capacity in rule 4A(2)(d) and in rule 5(1A), thereby altering the eligibility criterion tied to vehicle engine capacity for customs privileges available to foreign privileged persons.

Import liberalisation: cardamom small moved to Open General Licence enabling unrestricted import under amended foreign trade policy.
The Foreign Trade Policy amendment places small green cardamom on the Open General Licence as 'Free' for import, revises the EXIM classification to reflect this status, and deletes the adjacent EXIM entry, effectuating the consolidation of import treatment under the amended policy through a DGFT notification.

Import packaging rule: freely importable or SIL items may be imported in any packing including consumer packing unless restricted.
The Notification corrects EXIM codes and descriptions: Sl. No. 2 in para 5 to "49119100.30"; Sl. No. 7 in para 6 to EXIM code "85249909.90" with the condition that consumer goods are not permitted except under licence or Public Notice. It provides that items freely importable or importable under SIL may be imported in any size or shape of packing including consumer packing unless otherwise specified, and corrects EXIM code 29173902 description to "Di- Octyl phthalate."

Silk grade certification designation expands to include all provincial branches, broadening authorized agencies for import certification.
Designation of the Silk Grade Certification Agency is amended to include all provincial branches of the Central Silk Inspection Bureau (CCIB), pursuant to powers under the Foreign Trade Act and the Export and Import Policy, thereby expanding authorized certifying offices for silk imports; the amendment is effective from the stated effective date and issued by the Director General of Foreign Trade.

Anti-dumping duty on polytetrafluoroethylene imports from Russia imposed to counteract dumping and industry injury.
The Central Government, relying on the Designated Authority's findings that PTFE from Russia was dumped and caused injury to the domestic industry, imposed an anti-dumping duty on PTFE falling under sub-heading 3904.61 when originating in or exported from Russia and imported into India; the measure is effected under the Customs Tariff Act and the Anti-dumping Rules and specifies a stated duty rate and period of effectiveness.

Safeguard duty on phenol imposed, with higher initial rate then reduced rate, and specified licence and developing-country exemptions.
A safeguard duty is imposed on Phenol (sub-heading 2907.11) for two years based on findings of threat to domestic industry, with a higher initial rate followed by a reduced rate for the later part of the period. Exemptions apply to imports under specified Advance Licences (subject to non-transferable and actual-user conditions and restricted use for export obligation discharge or replenishment) and to imports from notified developing countries, excluding one specified country; the notification defines eligible Advance Licences by reference to Export and Import Policy provisions.

Excise on MRP basis revised: adjusted duty rates for specified goods following amendment under Central Excise Act powers.
The Central Government, exercising powers under section 4A(1) read with section 4A(2) of the Central Excise Act, 1944, amends Notification No. 20/99-Central Excise (N.T.) by substituting new entries in column (4) of the notification table for serial numbers 10, 22 and 26, thereby revising the MRP-based excise duty percentages applicable to the goods listed against those serial numbers.

Board constitution of company law administration allocates jurisdiction to principal, regional and single-member benches defining case allocation.
The order constitutes a Principal Bench and Regional Benches, allocating specified categories of company law matters to the Principal Bench (major reconstruction and Chapter VI matters) and certain governance or director matters to Regional Benches with at least two Members, while other matters and interlocutory applications are to be handled by a Single Member at Regional Benches; it permits sittings anywhere in India and allows referral of cases to the Principal Bench for joint consultation and disposal.

Recognition renewal under Section 4 grants continued recognition to a regional stock exchange for a fixed term.
SEBI, having considered the application for renewal made under the Securities Contracts (Regulation) Act, and being satisfied that renewal is in the interest of trade and the public, renews recognition of Saurashtra-Kutch Stock Exchange Limited for a fixed three-year term ending on the stated date in 2002, in respect of contracts in securities, exercising its statutory power to confer recognition.

Tax-exempt bonds specified for agricultural development; exemption contingent on holder registration with issuing bank required.
The Central Government specifies certain National Bank for Agriculture and Rural Development Tax-free Bonds as exempt under section 10(15)(iv)(h), describing the series, interest payable half-yearly for seven years, denomination and distinctive serial numbering, and providing that the tax benefit is admissible only if each bondholder registers his name and holding with the issuing bank.

Specified debentures under section 80L confirm tax classification for secured, redeemable non-convertible corporate bonds.
Central Government specifies under section 80L a class of 5-year, 17% secured, redeemable, non-convertible and taxable debentures in the nature of bonds, identifying denomination, fixed interest payable half-yearly, aggregate issuance amount and distinctive numbering for their classification under the statute.