Input Duty Credit Verification: new rules require verifiable supplier identity before availing input-duty credit.
The amendment substitutes clauses in rules 173Q and 209 to deem as impermissible taking credit of duty on inputs without having taken "reasonable steps" to verify that appropriate excise or countervailing duty has been paid, failing to use inputs or credits as required, misreporting receipt and disposal, contravening Section AA of Chapter V, or wilfully entering wrong particulars in gate-passes to enable impermissible credit; it defines "reasonable steps" as verification by personal knowledge, a certificate with a familiar signature, or a certificate from the Superintendent of Central Excise, and requires retention of such certificates for production on demand.

Tax exemption notification recognizes a charitable society as eligible for relief for specified assessment years under income tax provisions.
The Central Government, exercising powers under clause (iv) of sub section (23C) of section 10 of the Income tax Act, notifies Sri Sri Bijoykrishna Ashram, Relief Society, Calcutta as an eligible charitable institution for tax exemption purposes for specified assessment years, thereby defining the statutory basis and temporal scope of recognition.

Notification under section 10(23C)(iv): Railway Minister's Welfare & Relief Fund recognised for specified assessment years.
Central Government notifies Railway Minister's Welfare & Relief Fund, New Delhi under clause (iv) of sub-section (23C) of section 10 of the Income-tax Act, 1961 by Notification No. S.O.370 dated 19-12-1986, recognising the Fund for the purposes of that clause for the assessment years 1986-87 to 1988-89.

Exemption notification under section 10(23C)(iv) confirms Theosophy Company (India) Pvt. Ltd. as notified for specified assessment years.
The Central Government, under clause (iv) of sub section (23C) of section 10 of the Income tax Act, 1961, notifies Theosophy Company (India) Pvt. Ltd., Bombay for the purposes of that clause by S.O. 369 dated 19 12 1986, covering assessment years 1985 86 to 1987 88.

Tax exemption notification: temple designated under clause (v) of section 10(23C) for specified assessment years.
Central Government notifies Arulmighu Jambukeswarar Akilandeswari Temple, Tiruchy for tax-exempt status under clause (v) of sub section (23C) of section 10 of the Income-tax Act, 1961, applying to specified assessment years, thereby recognising the institution for the purposes of that clause.

Notification under section 10(23C)(v) confirms recognition of Jagdamba Mandir Trust for specified income-tax assessment years.
The Central Government exercised its power under clause (v) of sub-section (23C) of section 10 of the Income-tax Act, 1961 to notify Jagdamba Mandir Trust, Bombay for the purposes of that clause, specifying the recognition as applicable for the assessment years 1983-84 to 1985-86 by official notification.

Tax exemption notification under Section 10(23C)(v) confirms charitable status of Catholic Church Dhandhuka for specified years.
The Central Government, exercising powers under clause (v) of sub section (23C) of section 10 of the Income tax Act, notifies Catholic Church Dhandhuka, Gujarat, for the purpose of that clause, recognising its status under the income tax exemption framework for the assessment years 1985 86 to 1987 88.

Exemption under section 10(23C)(v) granted to a charitable society, notifying its tax-exempt status for specified years.
The Central Government, by Notification S.O.258 dated 19-12-1986, exercises its power under clause (v) of sub-section (23C) of section 10 of the Income-tax Act to notify Society of Servants of Mary, Thalavadi (Madras) as qualifying for the clause's tax-exempt status for the specified assessment years, thereby conferring the society with statutory exemption classification for that period.

Extension of exemption period for liquid nitrogen plant exemption; statutory notification deadline postponed to a later date.
The Central Government, exercising powers under sub-section (1) of section 25 of the Customs Act, 1962, amends paragraph 2 of Notification No. 21/84-Customs by substituting the previously specified terminal date with a later terminal date, thereby extending the period during which the exemption for liquid nitrogen plants remains in effect.

Backward area designation enables eligibility for income-tax benefits; notification lists specified districts and territories with stated exclusions.
Central Government notification designates specific States, Union Territories and listed districts (with stated block/taluka or urban exclusions) as backward areas for purposes of the Income-tax Act provision on tax benefits, effective from 1 April 1983, thereby defining the geographic scope of eligibility by an attached Schedule.

Customs schedule amendment adds a cross reference to include an auxiliary duty exemption notification in the Schedule.
The Central Government, exercising powers under section 25(1) of the Customs Act and section 49(4) of the Finance Act, 1986, amends Notification No. 312/86 Customs by inserting a new Sl. No. in the Schedule to add a cross reference to Notification No. 489/86 Customs dated 18th December, 1986, thereby bringing that notification within the Schedule of miscellaneous exemption notifications.

Customs duty exemption for specified jute machinery subject to industrial user registration and proof at import.
Exemption from the whole of customs duty and the whole of additional duty under section 3 is provided for specified machinery and accessories within Chapters 84, 85 or 90, on condition that importers are actual industrial users engaged in jute product manufacture, are registered with the Jute Commissioner, and produce evidence of such registration and user status to the Assistant Collector of Customs at importation.

Transfer instrument formalities exempted for government company bonds when transferee delivers specified intimation with certificate or allotment.
An exemption directs that the usual requirement for a duly stamped and executed instrument of transfer shall not apply to bonds issued by a Government company provided the transferee delivers an intimation specifying name, address and occupation with the bond certificate or, if no certificate exists, with the letter of allotment; the notification has been laid in draft before both Houses of Parliament as required.

Declaration of warehousing station enables customs facilitation for hundred per cent export-oriented units in a specified village.
The notification designates Village Kotapolur in Nellore District, Andhra Pradesh, as a warehousing station under powers conferred by the Customs Act to facilitate establishment of hundred per cent export-oriented units, creating a territorial facility for customs warehousing and associated regulatory and exemption treatment to support export manufacturing.

Warehousing station designation enables customs warehousing treatment for units manufacturing or supplying to the oil sector.
The Central Board of Excise and Customs, exercising powers under Section 9 of the Customs Act, 1962, declares Village Mora in Taluka Choryasi, District Surat, Gujarat, a warehousing station. The notification applies to units manufacturing goods on behalf of, or supplying to, the Oil and Natural Gas Commission, qualifying those activities for customs warehousing treatment at that site.

Specified tax-exempt telephone bonds under section 80L require transferee notice to promptly claim tax benefit.
Central Government specifies 7-year 14 per cent. secured redeemable non-convertible telephone bonds issued by Mahanagar Telephone Nigam Limited as qualifying under the eligibility provisions of section 80L. Where such bonds are transferred by endorsement or delivery, the transferee is eligible for the tax benefit only if the transferee notifies the company by registered post of the transfer within 60 days.

Approval under section 35(1)(ii) confirms university research funding compliance and reporting obligations, including annual returns and audited accounts.
Approval under section 35(1)(ii) recognises Anna University as a University-category institution for research-related tax purposes, conditioned on maintaining a separate account for research receipts, furnishing annual returns of scientific research activities by 30 April, and submitting audited annual accounts and balance sheet copies to the prescribed authority and the concerned Commissioner of Income-tax by 30 June; extensions require application to the Central Board of Direct Taxes three months before expiry.

Time-bound approval conversion for research institution requires separate research accounts, annual returns, audited accounts and timely renewal.
Conversion of perpetual approval under section 35(1)(ii) into a time-bound approval for National Hospitals, Bombay, valid to 31-3-1987, subject to conditions: maintain separate accounts for scientific research; file annual research returns to the prescribed authority by 30 April; submit audited annual accounts and balance-sheet to the prescribed authority and the Commissioner by 30 June; and apply to the Central Board of Direct Taxes three months before expiry for extension.

Section 35(1)(ii) approval converted to time-bound validity with annual accounts, audited returns and renewal application conditions.
Perpetual approval under section 35(1)(ii) for The Research Society for Grant Medical College and J. J. Group of Hospitals, Bombay, is converted into time-bound approval valid until 31-3-1988, subject to maintaining separate research accounts, filing annual research returns by 30 April, submitting audited annual accounts and balance-sheet to the prescribed authority and Commissioner by 30 June, and applying to the Central Board of Direct Taxes for extension at least three months before expiry.

Approval under section 35(1)(ii): institute authorised for scientific research subject to accounts, returns, audits and renewal application.
Approval is granted to the National Institute for Training in Industrial Engineering, Bombay under Section 35(1)(ii) as an 'Association' for scientific research from 14-6-1986 to 31-3-1988. Conditions require maintaining separate accounts for research receipts, filing annual research returns by 30 April, submitting audited accounts and balance sheet to the prescribed authority and Commissioner of Income-tax by 30 June, and applying to the Central Board of Direct Taxes three months before approval expiry for extension.