Jurisdiction of income-tax authorities: centralising investigative and enforcement powers with designated Directors General and territorial assignments.
Central Board of Direct Taxes directs specified Directors General and Principal Directors/Directors of Income-tax to exercise investigative, penalty and offence-related powers nationwide where indicated, and to exercise other statutory powers within specified territorial limits listed in the Schedule; it authorises those officers to issue written orders delegating such powers to subordinate authorities, maps offices to territorial jurisdictions by state, union territory and revenue district, and supersedes earlier notifications while preserving prior actions.

Subordination of senior income-tax officers to Central Board clarifies reporting hierarchy and omits redundant clause.
The amendment substitutes clause (a) to specify that Principal Directors General, Principal Chief Commissioners, Directors General and Chief Commissioners, including designated investigation and exemption posts, shall be subordinate to the Central Board of Direct Taxes, and omits clause (aa), thereby consolidating senior officers under the Board's supervisory control and streamlining the reporting framework.

Transfer pricing authority empowered to allocate work among Transfer Pricing Officers, adjusting administrative distribution of transfer pricing functions.
The Central Board of Direct Taxes empowers the Principal Chief Commissioner of Income-tax (International Taxation), Chief Commissioners of Income-tax (International Taxation), Commissioners of Income-tax (International Taxation and Transfer Pricing), and Commissioners of Income-tax (Transfer Pricing) to distribute the work amongst the Transfer Pricing Officers working under them while exercising their powers and performing their functions.

Delegation of income tax powers: Principal Chief Commissioners authorized to direct subordinate income tax authorities' exercise of functions under schedule.
The notification under section 120(1) and (2) of the Income tax Act authorises specified Principal Chief Commissioners to issue written orders delegating the powers and functions of the listed subordinate income tax authorities within designated territorial areas, persons, incomes or cases, while preserving the Commissioner (Appeals) independent appellate discretion; it supersedes the 1990 notification and comes into force on the fifteenth day of November, 2014, with an annexed Schedule identifying the delegations and a note recording a later substitution for the North East Region entries.

Corrigendum to income-tax notification correcting schedule entries and localities with textual amendments to columns and serials.
Corrigendum to Notification S.O. 2754(E) replaces "Commissioner of Income-tax (Exemption)" with "Commissioner of Income-tax (Exemptions)", changes "Delhi-2" to "Delhi" for serial number 6, inserts "and 112 to 116" after "serial numbers 158 to 181" for serial number 10, substitutes "241" with "250" for serial number 14 in column (5), and revises column (4) for serial number 14 to read "area covered by Municipal Corporation of Greater Mumbai and Navi Mumbai Municipal Corporation."

Jurisdiction of Income tax Authorities: Additional and Joint Commissioners empowered to exercise Assessing Officer functions for authorised areas and cases.
The Central Board of Direct Taxes, exercising powers under clause (b) of sub-section (4) of section 120 of the Income-tax Act, directs that Additional Commissioners of Income-tax and Joint Commissioners of Income-tax shall exercise the powers and perform the functions of Assessing Officers for territorial areas, persons or classes of persons, incomes or classes of incomes, and cases or classes of cases for which they have been authorised by the Principal Chief Commissioner, Chief Commissioner, Director General, Principal Commissioner or Commissioner of Income-tax.

Bank term deposit deduction limit increased under Income tax Section 80C, altering the eligible deposit threshold effective on notification.
The Bank Term Deposit (Amendment) Scheme, 2014 substitutes the threshold in para 3(1) of the Bank Term Deposit Scheme, 2006, increasing the eligible deposit limit for the income tax deduction under Section 80C from one lakh rupees to one hundred and fifty thousand rupees; the amendment is notified by the Central Government and comes into force on publication in the Official Gazette.

Jurisdiction of Income Tax Authorities refined: amendments reassign cases under section 127 and update prior notification allocations.
The notification amends prior CBDT notifications by substituting the Schedule entries in column (4) to redefine which Income tax authorities have jurisdiction over cases assigned under section 127, specifying the offices and districts included in or excluded from the purview of designated Chief Commissioners, Principal Commissioners, Commissioners (including TDS, Central and International Taxation units), and addressing Transfer Pricing allocation where noted; the amendment takes effect from 15th November, 2014.

Alternative Investment Fund regulation clarified; purchases of foreign securities by funds now expressly subject to exchange regulations and additional conditions.
The amendments add a definition of Alternative Investment Fund aligned with securities regulator rules, and replace the prior provision to state that purchases of foreign securities by Mutual Funds, Venture Capital Funds and Alternative Investment Funds are subject to the Foreign Exchange Management Regulations and any additional terms and conditions that may be specified by the Reserve Bank and the securities regulator.

Overseas direct investment: proprietorships and unregistered partnerships may form or acquire foreign JV/WOS with prior RBI approval.
A proprietorship concern or an unregistered partnership firm in India that satisfies the Reserve Bank's prescribed criteria for Overseas Direct Investment may set up or acquire a joint venture or wholly owned subsidiary outside India only with the Reserve Bank's prior approval; Regulation 19A is substituted to reflect this rule and the existing Schedule II is deleted.

Excise tariff revision adjusts specified table entries, substituting updated per litre excise rates for affected items.
Amendment under section 5A revises specific tariff entries in notification No.12/2012-Central Excise by substituting the excise amounts in the Table: serial number 70 item (i) replaced with 2.70 per litre and item (ii) with 3.85 per litre; serial number 71 item (i) replaced with 2.96 per litre and item (ii) with 5.25 per litre, effected by Notification No.22/2014-Central Excise dated 12th November 2014.

Exemption of bunker fuel customs duty for Indian-flag container vessels subject to specified registration, carriage and documentation conditions.
Exemption applies to IFO 180 CST and IFO 380 CST when imported for use in Indian-flag vessels carrying containerised export-import cargo or empty containers between Indian ports, subject to limited customs filings (IGM/EGM only), submission of a declaration-cum-undertaking supported by a fuel consumption certificate from an IACS member classification society and voyage distance, and an undertaking to pay duty with interest if conditions are not met.

Bunker fuel exemption for IFO 180/380 CST enables nil central excise for qualifying Indian-flag container voyages under conditions.
Provides nil Central Excise duty for IFO 180 CST and IFO 380 CST used in Indian-flag ships carrying containerised export-import cargo or empty containers between Indian ports, subject to eligibility conditions: Indian registration and flag, carriage between Indian ports (including via an intermediate foreign port), restriction on cargo documentation to IGM/EGM only, submission of a declaration with a consumption-rate certificate from a recognized classification society and voyage distance, and an undertaking to pay duty with interest if conditions are not met. The exemption is excluded on or after 11 May 2015.

Appointment of Value Added Tax Inspectors appointed to assist the Commissioner in administration of the VAT Act.
Pursuant to powers under section 66(2)(a) of the Delhi Value Added Tax Act read with rule 47 of the Delhi VAT Rules, the Lt. Governor appointed the named officers as Value Added Tax Inspectors to assist the Commissioner of Value Added Tax in administering the Act, effective from their date of assumption of charge.

Tariff classification change: corrigendum inserts provision specifying reclassification of zinc and related headings under customs rules.
Corrigendum amends the English text of a customs notification by inserting a provision identifying "Chapter 79 - Zinc and Articles Thereof" and specifying that a change to headings 79.01-79.05 from any other heading is to be recognised, thereby clarifying tariff classification coverage for zinc and related articles in the published notification.

Appointment of Chairperson under Competition Act designates tenure and ties service conditions to tribunal rules.
The Central Government appointed a Chairperson of the Competition Appellate Tribunal under the Competition Act, 2002, for a limited tenure subject to an upper age limit and until further orders; the Chairperson's salaries, allowances and other terms of service are governed by the Competition Appellate Tribunal Rules, 2009 as amended.

Prescribed authority change: applications for charitable and exempt institutions routed to Principal Commissioner or Commissioner after specified date.
Amendments designate the Principal Commissioner or Commissioner as the prescribed authority for specified sub-clauses of clause (23C) of section 10, clause (aa) of section 12A(1) and section 80G(5) on and after a Board-specified date; retain transitional roles for Chief Commissioner or Director General as authorised by the Board; amend Rule 11AA(6) wording; and revise Forms 10A, 56 and 56D to restate required identification fields, routing of applications before and after the specified date, requirement of four copies, and authority to request further documents.

Appointment of Commissioner (Trade and Taxes) confirms administrative delegation to assist VAT administration under statutory rule.
The Lt. Governor, exercising powers under the Value Added Tax Act and relevant rules, has appointed Sh. Sanjeev Khirwar as Commissioner (Trade and Taxes) effective from his assumption of charge to assist the Commissioner of Value Added Tax in administration of the Act; the appointment is recorded by an official notification from the Finance (Revenue-I) Department.

Companies rules amendment replaces 'Department of Company Affairs' wording with 'Ministry of Corporate Affairs' on publication.
The Companies (Central Government's) General Rules and Forms Amendment Rules, 2014 substitute the words "in the Ministry of Corporate Affairs" for the phrase "(Accounts) in the Department of Company Affairs" in Rule 12A, provide the short title for the amendment, and declare that the rules shall come into force on the date of their publication in the Official Gazette.

Plant quarantine requirement: imports of natural sand now subject to Plant Quarantine Order, restricting unchecked sand imports.
The import classification for natural sands under Chapter 25 is amended so that specified silica sands, quartz sands and other natural sands, previously free, are now subject to the Plant Quarantine (Regulation of Import into India) Order, making plant quarantine compliance a precondition for their import.