Specified bonds tax treatment requires transferee to notify issuer promptly to preserve wealth-tax benefit on transfer.
Specification designates two categories of secured redeemable non-convertible bonds issued by the housing finance corporation as eligible for the benefit of clause (xvie) of section 5(1) for wealth-tax purposes: 10-year tax-free bonds and 7-year taxable bonds. The wealth-tax benefit on transfer by endorsement or delivery is conditional on the transferee informing the issuer by registered post within sixty days of such transfer.

Delegation of customs powers to police in Andaman and Nicobar Islands, excluding Port Blair jurisdiction.
Entrusts specified customs enforcement functions to designated police officers in the Andaman and Nicobar Islands under the Customs Act, 1962, superseding an earlier notification; Officers of and above the rank of Assistant Sub Inspector are authorised to exercise a set of search, seizure and related customs functions throughout their jurisdictions except Port Blair, while Head Constables and Constables are authorised a narrower subset of such functions throughout their jurisdictions except Port Blair.

Customs amendment adds loading and unloading of crew baggage to permitted notification activities under delegated powers.
Amendment made under section 7(a) of the Customs Act inserts the words "loading and unloading of crew baggage and" after the words "purpose of" in Notification No. 120/84-Customs (dated 1 May 1984), thereby expanding the notification's expressly recognised handling activities to include loading and unloading of crew baggage.

Customs port designation: Redi authorised for loading and unloading of crew baggage and loading iron ore for export.
The Central Government amends an earlier notification to designate the port of Redi in Maharashtra as a customs port, limited to the loading and unloading of crew baggage and the loading of iron ore for export under its statutory authority.

Entrustment of customs functions to police officers authorizes them to exercise Chapter IVB powers within local jurisdiction.
Under the authority of section 6 of the Customs Act the Central Government entrusts specified functions of an officer of customs to designated police officers in Mizoram, Manipur, Nagaland and Arunachal Pradesh, directing that each such officer shall exercise those customs functions within the local limits of his jurisdiction only for the purposes of Chapter IVB. The Table allocates functions by rank: Superintendent of Police and Deputy Superintendent of Police receive the broader set of functions; police station in charges not below sub Inspector receive a defined subset.

Exemption for paper bobbins and similar supports removes excise duty liability under Central Excise Rules.
The Central Government exempts bobbins, spools, cops and similar supports of paper pulp, paper or paperboard, whether perforated or hardened, from the whole of the excise duty otherwise leviable on those items, the relief being effected by a notification under the Central Excise procedural framework and limited to the tariff classification covering paper-based supports.

Amendment to customs exemption notification links exemption eligibility to the import and export policy under the Customs Act.
Amendment inserts a cross reference in condition (4) of Notification No. 262/85 Cus making conformity with the Import and Export Policy for the relevant policy year, as notified and amended from time to time, an express condition for relying on the customs exemption specified in the notification.

Customs exemption condition updated to require compliance with the prevailing Import and Export Policy, aligning relief with trade policy.
The amendment inserts, into condition (iv) of the notification, a requirement that beneficiaries must comply with the Import and Export Policy for April, 1985-March, 1988 as notified by Public Notice No. 1 ITC(PN)/85 89, as amended from time to time, thereby conditioning the exemption on conformity with that trade policy framework.

Customs notification amendment requires compliance with the Import and Export Policy as notified and subsequently amended.
The Central Government amends Notification No. 339-Customs/85 by inserting into condition (iv) an express requirement that beneficiaries must comply with the Import and Export Policy notified by Public Notice No. 1-ITC(PN)/85-88, as amended from time to time, thereby making adherence to that policy a condition for entitlement under the exemption notification.

Import-export policy compliance required for customs exemption; amendment binds notification conditions to trade policy amendments.
The Central Government amends Notification No. 263/85 by inserting in condition (4) an express requirement that, in addition to existing conditions, claimants must comply with the Import and Export Policy for the specified policy period as notified by public notice and as amended from time to time, thereby making policy compliance an explicit precondition for the customs exemption.

Import and Export Policy reference updated to require compliance with the 1985-88 policy and replace earlier policy citation.
The Central Government amends Notification No. 227-Customs/79 under sub-section (1) of section 25 of the Customs Act, inserting in condition (4) a requirement to comply with the Import and Export Policy for April 1985-March 1988 (Public Notice No. 1-ITC(PN)/85-88), as amended, and substituting the prior specific citation to the April 1983-March 1984 policy with the phrase "the said Import and Export Policy," thereby updating the notification's operative policy references.

Import and Export Policy linkage: customs exemption now requires compliance with the referenced import-export policy framework.
The amendment adds an express requirement in condition (4) that compliance with the notification's conditions also meet the requirements of the said Import and Export Policy, as amended, and substitutes the detailed earlier Policy citation in paragraph 2A with the defined term "the said Import and Export Policy."

Coastal port appointment enables Vadinar to engage in trade in crude petroleum under customs regulatory authority.
The Central Government, exercising the power conferred by clause (d) of section 7 of the Customs Act, 1962, appoints Vadinar port in Jamnagad district to be a coastal port for carrying on trade in crude petroleum, thereby designating the port for customs-regulated coastal trade in that commodity.

Modvat credit for special excise duty expanded to cover provisional special duty payments under the Finance Bill, 1988.
The amendment inserts a provision into the first proviso of Notification No. 177/86 so that payment of the special duty of excise under sub clause (i) of clause 82 of the Finance Bill, 1988, which has been given force of law by provisional declaration, is treated as duty whose payment permits availment of modvat credit, following the existing reference to duty leviable under the Central Excises and Salt Act, 1944.

Delegation of competent authority functions to Deputy Commissioners secures continuity of Chapter XX-A enforcement within prior local jurisdictions.
Every Deputy Commissioner of Income-tax is authorised to perform the functions of a competent authority under Chapter XX-A of the Income tax Act in place of the Inspecting Assistant Commissioners or Assistant Commissioners who were performing those functions immediately before the 1st day of April, 1988, and such Deputy Commissioners shall perform those functions within the local limits of the respective jurisdictions in which those Inspecting Assistant Commissioners or Assistant Commissioners had been performing them.

Company information submission requirement: selected companies must furnish prescribed shareholding, management, and investment details to government.
Notification directs specified classes of companies to submit a prescribed annexed form to the Ministry of Industry, Department of Company Affairs within a fixed period. Companies covered include those above stated paid-up capital thresholds, investment companies above a lower threshold, and companies registered under the MRTP Act. The form requires detailed disclosures of shareholding structure, listing and shareholder particulars, foreign and non-resident holdings, board composition and director relationships, investments in other Indian companies and inter-connected undertakings, together with ancillary corporate and financial particulars and standard coding for entries.

Exemption notification under section 10(23C)(v): two religious institutions recognised for tax purposes for assessment year 1988-89.
The Central Government, under the powers of sub clause (v) of clause (23C) of section 10 of the Income tax Act, notifies Sri Sarada Math, Calcutta and Ramakrishna Sarada Mission, Calcutta as qualifying institutions for income tax exemption under that provision for the assessment year 1988-89.

Tax notification recognising charitable institution status for Dohnavur Followship, enabling tax benefits for specified assessment years.
The Central Government notifies grant of tax-exempt status to "Dohnavur Followship, Tamil Nadu" under sub-clause (v) of clause (23C) of section 10 of the Income-tax Act, identifying the institution for the purpose of that provision for a specified series of assessment years; the notification includes an administrative file reference.

Notification under section 10(23C)(v) grants tax notification status to Sri Devarajaswamy Devasthanam for specified assessment years.
Notification under section 10(23C)(v) designates Sri Devarajaswamy Devasthanam, Kanchipuram as a notified institution; the Central Government issued S.O.1459 dated 6-4-1988 to apply the designation for assessment years 1985-86 to 1988-89.

Tax notification under section 10(23C)(v) recognizes temple as charitable institution, applying to specified assessment years.
Central Government notifies Arulmigu Chinthamaninathaswami Temple, Vasudevanallur, Tamil Nadu under section 10(23C)(v) of the Income-tax Act, 1961, exercising powers conferred by sub-clause (v) of clause (23C) of section 10, and recognizing the temple for the purpose of that provision for the assessment years 1985-86 to 1988-89.