Share application money accepted in cash- Whether constitutes violation of section 269SS

Provisions of section 269SS does not apply to share application money accepted in cash and consequently no penalty under section 271D was leviable where share application money was accepted in cash.- Vide Commissioner of Income Tax v. I.P. India (P) Ltd. (2012) 43 (I) ITCL 194 (Del-HC)


SERVICE TAX


Cenvat Credit (First Amendment) Rules, 2012
Notification No. 01/2012-Central Excise (N.T.), dated 9-2-2012

In exercise of the powers conferred by section 37 of the Central Excise Act, 1944 (1 of 1944) and section 94 of the Finance Act, 1994 (32 of 1994), the Central Government hereby makes the following rules further to amend the CENVAT Credit Rules, 2004, namely :-

1.    (1) These rules may be called the CENVAT Credit (First Amendment) Rules, 2012.
(2) They shall come into force from the date of publication in the Official Gazette.
2.    In the CENVAT Credit Rules, 2004, in rule 12, for the words "notwithstanding anything contained in these rules" the words "notwithstanding anything contained in these rules but subject to the proviso to clause (i) of sub rule (1) of the rule 3" shall be substituted.