Amendment to Section 35AC notification: project location substituted for MMR Research and Eye Care Foundation project address.
The Central Government, on the National Committee's recommendation and under the Explanation to the relevant tax provision, directs that in the table at serial number 8 the words "Mukhmailpur Village, Delhi" be substituted by "Swasthya Vihar, Delhi" in the column describing the project or scheme and estimated cost for MMR Research and Eye Care Foundation, thereby revising the listed project location in the existing notification.

Deduction under section 35AC: government approves a company's specified welfare project for a time-limited tax deduction.
Approval under Section 35AC authorizes a specified company's welfare scheme as an eligible project, fixes an estimated project cost and prescribes the maximum portion of that cost allowable as a deduction; the authorization is time-limited to one year for the assessment year specified and is issued by the Central Government on the National Committee's recommendation.

Deduction under section 35AC: specified charitable projects approved for allowance of eligible project expenditure as deduction.
The notification approves specified institutions and designates particular projects or schemes as eligible under section 35AC, listing each institution with the project description and the maximum portion of estimated project cost allowable as a deduction; some entries also require a corpus fund. The tabulation imposes ceilings on deductible expenditure and the notification specifies the limited assessment-year periods during which the approval applies, with recorded substitutions and amendments to certain entries.

Exemption for cupro nickel coin blanks: duty waived subject to undertaking restricting use to coining at designated mint.
A new table entry (115A) exempts cupro nickel coin blanks imported by the India Government Mint, NOIDA from basic and additional customs duty, subject to Condition 18A. Condition 18A requires the importer to furnish an undertaking to the Assistant Commissioner of Customs that the blanks will be used solely for coining of coins at the India Government Mint, NOIDA.

Section 35AC deduction increased for a specified sports coaching project, expanding the maximum allowable project cost deduction.
The notification amends S.O.713(E) by substituting the entry in the Table for Sports Coaching Foundation, Hyderabad to increase the maximum amount of project cost allowable as a deduction under Section 35AC, thereby raising the ceiling of project cost eligible for deduction for that specified project.

Deduction approval under section 35AC: specified companies and projects granted capped deductible amounts for two assessment years.
Notification under section 35AC approves specified companies and designates eligible projects or schemes with a capped portion of project cost allowable as a deduction, based on National Committee recommendations; the approvals and deduction limits operate for the two assessment years 1997-98 and 1998-99.

Chief Commissioner discretion allows modified entry procedures for manufacturers under central excise rules, subject to conditions specified by Central Board
The Central Excise (2nd Amendmentment) Rules, 1997 amend the Central Excise Rules, 1944 by inserting a proviso empowering the Chief Commissioner to allow, by general or special order, a manufacturer to make entries in respect of specified goods in such manner, at such intervals, and subject to such conditions and limitations as may be specified by the central board; the amendment takes effect on publication in the Official Gazette.

Tax deduction for notified projects allows approved institutions to claim specified project costs within prescribed assessment year windows.
The Notification approves named institutions and specifies eligible projects or schemes and the maximum project cost allowable as a deduction under the income tax provision for notified projects. It identifies project types (health, education, rehabilitation, rural development, infrastructure), lists maximum deductible cost amounts for each approved project, and limits the availability of deductions to the assessment years set out for each entry, with subsequent amendments to certain entries noted.

Tax withholding on Zero Coupon Bonds clarified as difference between redemption value and bid price when held by financial institutions.
Central Government specifies that the difference payable between the redemption value and the bid price of Zero Coupon Bonds issued by auction under the Government of India scheme is within the scope of clause (iiia) of the proviso to section 193, and that this specification applies when such bonds are held by banking companies, co operative banks, public financial institutions, the Discount and Finance House of India Limited, and the Securities Trading Corporation of India Limited.

Valuation methodology for customs duties: sequential methods determine input value for pass book imports, ending with officer discretion.
Amendment establishes a sequential valuation hierarchy for inputs under the pass book scheme when customs duties are chargeable by reference to value: first use prices of same or similar inputs imported at the export location within a recent prior period; failing that, prices of like inputs imported elsewhere in India within a recent prior period; failing that, prices at which inputs were exported from India within a recent prior period; then contemporaneous published international prices; and finally any other reasonable method as may be approved by the Assistant Commissioner of Customs.

Competent authority discretion on deemed Indian tax payment where anti abuse and fraud concerns justify non deeming, with notified entry into force.
The Protocol directs that New Zealand's competent authority may, after consulting India's competent authority, decline to treat certain India source income as having borne Indian tax under paragraph 3 of Article 23 where deeming would be inappropriate, considering arrangements to exploit the rule, benefits to non residents, prevention of fraud or tax avoidance, and other relevant matters including submissions from the concerned New Zealand resident. The Protocol enters into force upon reciprocal notification that domestic entry into force requirements are met and applies to income from the first day of the month following its entry into force.

Interlocutory application procedure requires triplicate filing, affidavit, indexing and notice to respondents before appellate authority for consideration.
Procedure under Section 13(1) requires interlocutory applications to be filed in triplicate, signed, supported by an affidavit, and accompanied by proof of advance notice to respondents; applications must be indexed, include documents relied upon, and include power of attorney/vakalatnama where necessary, and must state names and addresses of applicants and respondents.

Warehousing transfer amendment: addition of Kandla to the enumerated ports for removal of goods between warehouses.
Amendment substitutes the words in clause (a) of paragraph 3 of the earlier notification to add Kandla to the list of locations, so the clause now refers to Maurigram, Haldia and Kandla; the change is made under sub rule (2) of rule 49 and rule 139 of the Central Excise Rules, 1944.

Long term specified assets under section 54EB clarify qualifying bonds and long-term deposits for tax purposes.
Notification specifies as long term specified assets (for section 54EB) (i) bonds redeemable after seven years issued by certain named corporations and financial institutions, and (ii) deposits of not less than seven years with certain named financial institutions, thereby limiting qualifying investments to instruments issued or held with the listed entities and meeting the seven year durability requirement.

Recovery officer powers under the EPF framework are assigned region-wise to specified provident fund commissioners.
Authorises Regional Provident Fund Commissioners and Assistant Provident Fund Commissioners of specified EPFO regions to exercise the powers of Recovery Officers under the Employees' Provident Funds and Miscellaneous Provisions Act, 1952, for covered factories and establishments within the territorial areas assigned in the Schedule. The notification allocates jurisdiction region-wise across the listed States, Union Territories and specified territorial areas, and states that it supersedes all other notifications issued on the subject.

Specified bonds under Section 54EA: certain three year redeemable bonds qualify for the section's reinvestment provisions.
Specification of qualifying investments under Section 54EA: the Central Board of Direct Taxes designates as qualifying all bonds and debentures redeemable after three years issued by the specified corporate entities named in the notification, thereby identifying issuer-specific instruments that meet the reinvestment eligibility for Section 54EA.

Baggage duty rates amended: specified passenger-imported goods now attract rates and conditions set in prior notifications.
The amendment replaces the Table in Notification No. 49/96-Cus. so that goods specified in earlier government customs notifications are subject to the rates and any conditions set out in those notifications, with certain items explicitly brought within the substituted Table; printed newspapers and periodicals, music manuscripts, postage stamps and medals are chargeable at the rates specified in the First Schedule to the Customs Tariff Act.

Customs amendment inserts raw material entries into exemption list, renumbering items under delegated powers to clarify coverage.
Exercising sub-section (1) of section 25 of the Customs Act, 1962, the Central Government amends Notification No. 13/97-Customs by inserting a new S. No. at the start of LIST B and renumbering existing S. Nos. 1-8 as S. Nos. 2-9; the inserted entry lists litharge and glass shells/parts for colour picture tubes, thereby expanding the items set out in the List B table of the notification.

Substitution of statutory application forms for inter-company loans and investments; amended forms mandate documentation and fee evidence.
The rules substitute Forms 34AA and 34B establishing standardized applications and filing procedures for Central Government approval of inter-company loans and investments. Each form requires fee payment evidence, corporate particulars (authorised capital, business, profit/loss history), management and shareholding details, proposed loan or investment specifics, security and valuation information where relevant, confirmation of required board and member resolutions, and a funds-availability schedule showing aggregate exposure and its percentage relation to reserves, together with a verification by an authorised signatory.

Rescission of customs exemptions: central government rescinds specified exemption notifications under the Customs Act by notification.
Central Government, invoking sub section (1) of section 25 of the Customs Act, 1962, issues Notification No. 21/97 Cus. dated 1 3 1997 to rescind thirty seven specified customs exemption notifications listed by number and date in the annexed table, thereby withdrawing those exemption instruments from effect.