Designation as financial institution under Section 80E confirms HDFC's status for specified tax treatment under the Income-tax Act.
The Central Government specified the Housing Development Finance Corporation Limited (HDFC) as a financial institution for the purposes of Section 80E of the Income-tax Act, 1961 by Notification No. 157 dated 21st June 2002 under clause (b) of sub-section (3), and a subsequent correction amended the corporate name to "Housing Development Finance Corporation Limited."

Foreign Currency Accounts for SEZ units allowed subject to receipt, usage and restriction conditions under amended FEMA regulations.
A unit in a Special Economic Zone may open, hold and maintain a Foreign Currency Account with an authorized dealer provided all foreign exchange receipts of the unit are credited thereto; foreign exchange purchased in India against rupees requires prior RBI permission before credit; funds are to be used for bona fide trade transactions of the SEZ unit; balances are exempt from specified restrictions in the cited government notification; and funds in these accounts may not be lent or made available to any resident in India other than a SEZ unit.

Exemption from excise duty for refinery goods removed in bond to warehouses, with reduced duty payable on subsequent removal.
Exemption from excise duty on goods supplied to specified refineries is clarified to include goods removed under bond from those refineries to a warehouse; such goods may be subsequently removed from the warehouse on payment of a reduced portion of the duties, and the explanation operates as if always part of the original notification.

Tax exemption under section 10(23C)(iv): trust must apply income exclusively and meet investment, accounting and dissolution conditions.
Notification grants tax-exempt charitable status to Bhopal Memorial Hospital Trust for the specified assessment years subject to conditions: apply or accumulate income wholly and exclusively for its objects; restrict investments to statutory modes (excluding certain preserved voluntary contributions); exempt business income only if incidental with separate books; regularly file returns; and on dissolution transfer surplus and assets to a like charitable organization.

Tax exemption recognition granted to a charitable panjrapole subject to income application, investment and reporting conditions.
Notification grants charitable tax recognition to Shree Nasik Panchavati Panjrapole for specified assessment years on conditions: apply or accumulate income wholly and exclusively to its objects; restrict investments to permitted forms (with limited exceptions for voluntary contributions in kind); treat business income as taxable unless incidental and separately accounted; regularly file income tax returns; and, on dissolution, transfer surplus and assets to a charitable organization with similar objectives.

Duty drawback rate extended for furnace oil supplies to EOUs and EPZs under the deemed export scheme until further orders.
Extension of the All Industry Rate of duty drawback of Rs. 850 per M.T. for furnace oil supplied by domestic oil companies to Export Oriented Units and Export Processing Zones under the deemed export scheme (as notified under Notification No. 33) is extended beyond 31-03-2002 until further orders under paragraph 2.4 of the Foreign Trade Policy.

Cost Inflation Index for financial year 2002-2003 was specified by amending the capital gains indexation table.
The Cost Inflation Index for the financial year 2002-2003 was specified under the Explanation to Section 48 of the Income-tax Act, 1961. The earlier Cost Inflation Index table was amended by inserting the applicable entry for that financial year, based on the prescribed proportion of the average rise in the Consumer Price Index for urban non-manual employees during the preceding year.

Specification under Section 10(10C): International Crops Research Institute designated for assessment year 2002-2003 and subsequent years.
The Central Government, under the powers conferred by the specified clause of Section 10, notified the International Crops Research Institute for the Semi Arid Tropics as a qualifying institution for income tax exemption by Notification No. 153 dated 19th June 2002, applying in respect of the assessment year 2002-2003 and subsequent assessment years.

Taxation of coffee sales: producer-seller receipts treated as business income with prescribed deemed taxable portions.
The amendment treats receipts from the sale of coffee by the producer-seller as business income and prescribes that a specified portion of income from coffee grown and cured by the seller, and a larger specified portion of income from coffee grown, cured, roasted and ground by the seller (with or without mixing chicory or other flavouring ingredients), shall be deemed to be income liable to tax; "curing" is defined by reference to the Coffee Act, 1942, and a related cross-reference in the rule is revised.

Specification of institution status empowers central government to designate nationally or state-important institutions for tax-rule application.
An amendment to the Income-tax Rules inserts clause (viia) into rule 2BA authorising the Central Government to specify by notification in the Official Gazette those institutions that qualify as having importance throughout India or in any State or States for purposes of the tax rules; the amendment is made under the powers conferred by the Income-tax Act and comes into force on publication in the Official Gazette.

Reporting of specified cash transactions - deadlines set for forwarding transaction statements and Form 60 and 61 declarations.
Rule 114D requires persons under sub-rule (2) of rule 114C to forward to the Director of Income-tax (Investigation) or Commissioner (Central Information Branch) a statement of all documents for cash transactions listed in clauses (a)-(k) of rule 114B, specifying parties, transaction nature and date, amount, and quoted PAN or GIR, together with copies of Forms 60 and 61; transactions under clause (f) of rule 114B are excluded from submission. The materials must be sent in two instalments with specified post-cut-off forwarding deadlines.

Cash transaction limits revised: new reporting triggers for bank draft purchases, cash deposits and foreign travel payments.
Rule 114B is amended to lower the monetary threshold in clause (e) and to add three reportable cash transaction categories: cash purchase of bank drafts/pay orders/banker's cheques from specified banking companies aggregating a daily amount; cash deposits with specified banking companies aggregating a daily amount; and cash payments for foreign travel exceeding a prescribed single-payment amount, with an explanation defining travel-related cash payments and exclusions. Proviso cross-references are extended to include the new clauses. Rule 114C is amended to update sub-rule references to reflect the expanded clause range.

Customs exemptions: amendment adds specified Combined Cycle Gas Turbine power plants and paraxylene duty nil to notification schedules.
The notification amends two customs exemption instruments: it inserts five specified Combined Cycle Gas Turbine Power Plants of the National Thermal Power Corporation Ltd into List 2 of Notification 21/2002, and it inserts a new tariff-line for Paraxylene with a nil rate into the Table of Notification 23/2002, effected under powers of section 3A of the Customs Tariff Act, 1975 and section 25 of the Customs Act, 1962.

Exemption for open-air stentering extended to certain cotton fabrics, subject to an aggregate job-charge cap on clearances.
The amendment inserts entry 4A granting nil duty exemption for woven cotton fabrics subjected to open-air stentering by a processor in factories without bleaching, dyeing or printing facilities; the exemption is effective to the stated terminal date and applies only to clearances where the aggregate job-charges for such stentering do not exceed the prescribed monetary cap, with aggregation across multiple open-air stenters or factories belonging to the processor.

Central Excise amendment adds Combined Cycle Gas Turbine power plants to the notification list, expanding listed facilities coverage.
The Central Government, exercising powers under the Central Excise Act, issues Notification No. 32/2002 to amend Notification No. 6/2002-Central Excise by inserting five specified Combined Cycle Gas Turbine power plants into Annexure List 1, immediately after item 7; the notification cites the principal Gazette publication and prior amendments.

Tax exemption notification conditions require exclusive application of income and restricted investments with compliance obligations.
Notification grants tax-exempt status to Foundation Aga Khan subject to conditions: income must be applied exclusively to charitable objects; investments limited to modes in section 11(5) except certain voluntary contributions; business income excluded unless incidental with separate books; regular filing of income-tax returns is required; on dissolution surplus assets must transfer to a charitable organization with similar objectives.

Anti-dumping duty on sodium tripolyphosphate imposed, margin-based duty calculated over assessable landed value per tonne.
Imposition of an anti-dumping duty on sodium tripolyphosphate (sub-heading 2835.31) from China and Chinese Taipei is declared: duty equals the difference between a specified reference amount and the assessable landed value per metric tonne for listed producers/exporters and categories. The measure applies to named producers, other exporters from China, and all exporters from Chinese Taipei; duty is payable in Indian currency until the stated expiry. Definitions specify landed value as assessable value under the Customs Act excluding certain duties, and the rate of exchange is the Ministry of Finance notified rate on the bill of entry date.

Tariff valuation updated for palm oil, palmolein and brass scrap, replacing prior notification and fixing customs values.
The Board, invoking sub-section (2) of section 14 of the Customs Act, 1962, substitutes the Table in Notification No.36/2001-Customs (N.T.) with a new Table fixing tariff values for specified goods, prescribing customs valuation benchmarks for various palm oil products and brass scrap.

Commissioner of Customs (Appeals) jurisdiction updated to reassign appellate areas including Mumbai, Ahmedabad, Cochin and Jamnagar.
The Central Board of Excise and Customs, under section 4(1) of the Customs Act, 1962, amends the Table to Notification No.16/2002-Customs (N.T.) by substituting entries for specified serial numbers to reassign appellate areas to particular Commissioners of Customs (Appeals). The substitutions reallocate appellate coverage among designated Commissioners (General, Import, Export, Preventive and container-station posts) for Mumbai-I, Mumbai-II, Ahmedabad and Cochin, and the amendment inserts a new entry assigning Jamnagar to a Commissioner of Customs (Appeals).

Customs jurisdiction reallocation: specified ports, territories and officer assignments updated to clarify administrative boundaries and duties.
Amendment substitutes and omits entries in a prior notification to specify the territorial areas of jurisdiction for Commissioners of Customs and their subordinate Additional or Joint Commissioners and Deputy or Assistant Commissioners, assigning particular ports, airports, municipal areas, districts, states, union territories, inland container depots, container freight stations and designated offshore zones (including a special economic zone) to named Commissionerates, and clarifying exclusions and preventive versus general responsibilities.