Anti-dumping duty extension on TMBA from China continued pending review under Customs Tariff Act powers via amendment to notification.
Anti-dumping measures on 3,4,5 Trimethoxy Benzaldehyde from the People's Republic of China are temporarily continued by amendment to Notification No.46/99 Customs following a review initiation; the Central Government exercised powers under section 9A of the Customs Tariff Act, 1975 and rule 23 to insert that the notification shall remain in force until a specified date unless extended or revoked earlier by notification in the Official Gazette.

Anti-dumping duty extension on Theophylline and Caffeine continued pending review under Customs Tariff Act provisions.
The Central Government, invoking sections 9A(1), (5) and (6) of the Customs Tariff Act, 1975 and rule 23 of the Anti Dumping Rules, amends Notification No. 14/99 Customs by substituting paragraph 2 to continue the anti dumping duty on Theophylline and Caffeine originating in or exported from China PR until the newly specified expiry date unless revoked earlier, thereby preserving the duty pending review investigations.

Anti-dumping duty on Vitamin C imports from Russia and EU imposed, with exporter-specific rates and a fixed duration.
Imposition of Anti-dumping duty on Vitamin C (sub-heading No. 2936.27) originating in or exported from Russia and the European Union follows preliminary findings of export below normal value causing dumping and material injury. The Central Government, relying on those findings and the Customs Tariff framework, prescribes exporter- and country-specific duty rates as set in the annexed table, effective up to and inclusive of the fifteenth day of September, 2000.

Jurisdictional allocation for central excise territories redefined, altering territorial commissioner responsibilities and area assignments under amended rules.
The Third Amendment substitutes items (xxi)-(xxiva) in rule 2(4) of the Central Excise Rules, 1944, assigning specified municipal wards, hoblis, taluks and districts in Karnataka to particular Central Excise commissioners, thereby redefining territorial jurisdiction and administrative responsibility for central excise. The amendment is made under section 37 of the Central Excise Act, 1944 and commences on 1st April, 2000.

Customs area designation expanded to include specified Karnataka districts and Mangalore Port under Customs Act.
Amendment under sub-section (1) of section 4 of the Customs Act, 1962 substitutes the entry against serial No. 17 in Notification No.27/97-Customs (N.T.) to specify that the whole of the areas in listed districts of the State of Karnataka, including areas under Mangalore Port, are covered; the substitution takes effect from the 1st April, 2000 and is promulgated as Notification No.21/2000-Customs (N.T.).

Double taxation avoidance: credit method under the India-Morocco income tax convention defining allocation of taxing rights and relief.
The Convention allocates taxing rights between India and Morocco for specified income taxes, applies to residents of one or both States, defines key terms including resident and permanent establishment, and prescribes category based taxation rules (immovable property, business profits attributable to permanent establishments, shipping and air transport, dividends, interest, royalties, capital gains, personal services and other incomes). It requires elimination of double taxation by allowing credit for tax paid in the other State, establishes a Mutual Agreement Procedure for resolving disputes, mandates exchange of information subject to confidentiality, and provides for collection assistance and non discrimination protections.

Interest on delayed redemption payments makes asset managers liable for interest and possible penalties under amended mutual fund rules.
Where an asset management company fails to despatch redemption or repurchase proceeds within the prescribed period it must pay interest to unit holders at a Board-specified rate for the period of delay, and may additionally be liable to a penalty for such failure. Mutual funds must, within one month after each half-year end, send unit holders a complete statement of scheme portfolio unless the statement is published as an advertisement in a national English newspaper and a regional newspaper where the fund's head office is located.

Registration requirements for trading and clearing members: certification, infrastructure, net-worth and compliance govern derivatives participation.
A new regulatory framework creates registration, qualification and conduct requirements for trading members and clearing members in derivatives: applications through the relevant exchange or clearing entity in Form AA; Board consideration based on eligibility, infrastructure, disciplinary history, certification and prescribed net worth and deposit requirements for clearing members; issuance of certificates in Form DA or refusal with review; mandatory compliance with code of conduct, KYC, risk disclosure, margin/exposure requirements and payment of fees as per Schedule IV.

Tax-free bonds specified under section 10(15)(iv)(h); eligibility conditioned on registration with issuing bank, interest and tenure prescribed.
The notification designates a named series of tax-free bonds as qualifying under section 10(15)(iv)(h), describing the issuance with a prescribed interest rate, fixed tenure and specified aggregate issue during the fiscal year, and makes the tax exemption conditional on the bondholder registering their name and holding with the issuing bank.

Deduction under section 80L: specified IDBI Flexibonds types designated eligible for interest and dividend deduction.
The Central Board of Direct Taxes, under clause (ii) of sub section (1) of section 80L, specifies three categories of Industrial Development Bank of India debentures issued in the Flexibonds 7 series - Regular Income, Growing Interest, and Retirement Bond - by distinctive numbers and a common face value, issued between late July and mid August 1999, as qualifying instruments for the deduction on interest, dividends and related receipts under that provision.

Tax exemption recognition under section 10(23C)(v) granted to Sringeri Peetham, subject to specified compliance conditions.
Notification under section 10(23C)(v) recognises Sri Sharda Peetham, Sringeri, for assessment years 1999-2000 to 2001-2002 on condition that the institute applies or accumulates income solely for its objects; confines investments to forms prescribed by the Act (excluding certain voluntary contributions kept as jewellery or furniture); excludes business income unless incidental with separate books; and files returns regularly under the Income tax Act.

Tax exemption under clause 10(23C)(v) granted to a religious trust, subject to income application, investment limits, business exception, and filing compliance.
Notification designates Shri Arasuri Ambaji Mataji Devasthan Trust as eligible for tax exemption under clause (v) of 10(23C) for the specified assessment years, subject to conditions: apply income wholly to its objects or accumulate for that purpose; limit investments and deposits to permitted modes (excluding certain voluntary contributions retained as jewellery or furniture); exclude business profits unless incidental and maintained in separate books; and regularly file income-tax returns in accordance with the Act.

Tax exemption under 10(23C)(via) requires compliance with the sub-clause, rule 2CA, and regular return filing.
Notification notifies the Deepak Gupta Memorial Foundation under 10(23C)(via) for specified assessment years, provided the Foundation conforms to the sub-clause and complies with rule 2CA of the Income-tax Rules, 1962, and regularly files its return of income in accordance with the Income-tax Act, 1961.

Approval as infrastructure finance corporation establishes eligibility under section 36(1)(viii) subject to statutory compliance conditions.
Approval granted to Infrastructure Development Finance Company Ltd., Chennai, as a corporation engaged in providing long-term finance for industrial development for purposes of section 36(1)(viii) of the Income-tax Act for assessment year 1999-2000, subject to the condition that the company conform to and comply with the provisions of section 36(1)(viii).

Research approval for college research enables tax-exempt treatment subject to annual reporting and audit conditions.
Approval is granted to Bhartiya Vaidayak Samanvaya Samiti's All India Ayurved Research Institute, Nagpur, as a college for research related tax exemption for 1 4 1999 to 31 3 2002, subject to conditions: maintain separate books for research activities; file an annual scientific research return to the Secretary, Department of Scientific and Industrial Research by 31 May; and submit audited annual accounts and a separate audited income and expenditure account for the research activities to specified tax and research authorities by 31 October, in addition to the regular income tax return.

Approval under section 35(1)(ii) - institutions granted research exemption subject to accounting and reporting conditions.
Approval of organisations as Institution under clause (ii) of sub section (1) of section 35 permits specified bodies to qualify for research related tax treatment for stated periods, subject to conditions: maintain separate books for research; submit an annual scientific research return to the Secretary, Department of Scientific and Industrial Research by 31 May; and provide audited annual accounts and audited research income and expenditure accounts to the Director General of Income tax (Exemptions), the Secretary, DSIR, and the local Commissioner/Director of Income tax (Exemptions) by 31 October, alongside the return of income to the Assessing Officer.

Section 10(23G) approval for infrastructure enterprises grants tax-exempt status subject to compliance and audit conditions.
Approval is granted to specified enterprises for the purposes of section 10(23G) of the Income-tax Act, read with rule 2E of the Income-tax Rules, for assessment years 1999-2002, subject to conditions that the undertaking conform to those provisions, maintain books of account, obtain and furnish the audit report required by sub-rule (7) of rule 2E, and subject to withdrawal of approval if the undertaking ceases to carry on the infrastructure facility or fails the accounting and audit obligations.

Approval under section 36(1)(viii) recognises a corporation for long term industrial finance tax treatment, subject to compliance.
Approval is granted to M/s Infrastructure Development Finance Company Ltd., Chennai, as a corporation engaged in providing long term finance for industrial development for the purposes of section 36(1)(viii) of the Income tax Act for the specified assessment year, subject to the condition that the company shall conform to and comply with the provisions of section 36(1)(viii) of the Act.

Research exemption approval requires separate research accounts, annual DSIR returns by May and audited submissions by October.
The college is approved as eligible for research-related income-tax exemption for the period 1-4-1999 to 31-3-2002, subject to maintaining separate books for research, filing an Annual Return of scientific research activities with the Department of Scientific & Industrial Research by 31st May each year, and submitting audited annual accounts and audited Income & Expenditure Account for research activities to the Director General of Income-tax (Exemptions), the Secretary, DSIR and the relevant Commissioner/Director of Income-tax, along with the return of income to the designated Assessing Officer by 31st October annually.

Research institution approval requires tax-exemption compliance with annual reporting, separate research accounts, and audited submissions.
Notification approves specified organisations as Institutions under clause (ii) of sub-section (1) of section 35 for the periods listed, subject to maintaining separate books for research, furnishing an annual return of scientific research activities to the Department of Scientific & Industrial Research by 31st May each year, and submitting audited annual accounts and audited income & expenditure accounts for research activities to the Director General of Income-tax (Exemptions), the Secretary, DSIR, and the relevant Commissioner/Director of Income-tax (Exemptions) by 31st October each year.