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REGISTERED No D. 221

The Gazette of India

EXTRAORDINARY

PART II—Section 3—Sub-section (ii)

PUBLISHED BY AUTHORITY

No. 275] NEW DELHI, TUESDAY, AUGUST30, 1966/BHADRA 8, 1888

Separate paging is given to this Part in order that it may be filed

as a separate compilation.

MINISTRY OF FINANCE

(Department of Revenue and Insurance)

NOTIFICATION

Income - Tax

DNew Delhi, the 30th August, 1966

TAX CREDIT CERTIFICATE (CORPORATION TAX)

SCHEDULE, 1966

3.0. 2671-In exercise of the powers conferred by s e c t i on

2 80ZE of the Income-tax Act. 1961 (43 of 1961) read with

section 280 ZB of that Act, and a ll other powers enabling it

in this behalf, the Central Government hereby makes the f o l-

lowing Scheme, namely;-

1. Short t i t le and commencement:- (1) This Scheme may be

c a l l ed the Tax Credit C e r t i f i c a te (Corporation Tax) Scheme, 1966.

(2) It s h a ll come i n to force on the l st day of November.

1966.

2. Definition*. - (1) In this Scheme, unless the context

otherwise r e q u i r e s ,—

(a) "Act" means the Income-tax Act, 1961 (43 of 1961)

(1283)

**•• THE GA7ETTE OF INDIA EXTRAORDINARY [p/jtr II

(") aa"rtificat"* mean* a tax credit c*rtifloat* r*f*rr*d

to in section 280ZB;

(a) "paragraph" ••an* a paragrqah of t h is Scheme and "mub-

paragraph • i*am a sub-paragraph of th* paragraph in which it

occurs;

(d) ^relevant year" i t a ni an assessment y*ar, not b*lng

th* ba*" y*ar or the succeeding bait y*ar, a* th* oai* mar

b*, commencing on the 1 *t day of April, 1966. or th* 1st day

"f April, 1967, or the l it day of April, 19G8- *r th* l it

day of April 1969. or th* l it day of April. 1870. in r**p*ct

of which a company is entitled to a c*rti ficat*;

(•) "section" means a section of th* Act;

(f) "Surtax Act" aeons th* Companies (Profits) Surtax'Act,

196+ (7 of 1964).

(2) In this Scheme, th* words "base year" "succeeding

base year" and "tax" shall hay* th* meanings respectively

assigned to th** in section 280 ZB.

(3) All references to "Forms* in t h is Scheme shall b*

oonitrued a* references to th* Forms set out in th* Appendix

hereto.

3. Application for c*rtl f I cat**- (1) Any company which

claims that it is e l i g i b le for th* grant of a c e r t i f i c a te in

respect of any relevant year, may apply to th* Income-tax

Offio*r "t any time after

(a) th* regular assessment of th* company in r*ip*ct of

the b"s* year or th* succeeding base y*"r, as the o""* ""y

b*.has been pad* und*r th* Act and wh*r* th* profit* of th*

company are chargeable to surtax under th* Surtax Act, also

under that Act; a"".

(b) th* company has furnished a return of incom* under

th* Act, and where the profits of th* company ar* obarg*a"l*

to surtax under th* Surtax Act, also a return of charg*abl*

profits under th* said Act, in respect of th* relevant y*ar.

(2) Where -

(a) a* a result of an order under th* provision* of

section 154 or section 155 or section 250 or section 254

or section 260 or section 262 or Section 264 or an order

under the corresponding provisions of the Surtax Act,

the tax which the company is l i a b le to pay for th* base

year or the succeeding ba"9 year, as the case may be, is

determined at an amount which is lower than the csiount

with reference to which a c e r t i f i c a t e, if mj, has

already bften granted to i t, or

(b) on couplet ion of the regular assessment under

th" Act or as a result of an order of re-assessment or recomputation under section 147 or as a result of an order under section 154 or section 155 or section 250 or section 254 or section 260 or section 262 or section 26 3, or on completion of the regular assessment under the Surtax Act or an a result of an order under the provisions of that Act corresponding to the provisions of the sections referred to above, the tax which the coup any is l i a b le to pay for the relevant year is de- termined at an amount which is higher than the amount with reference to which a c e r t i f i c a t e, if any, has already been granted to i t,

the company may make an application for the grant of a cer-

t i f i c a te or, as the cog* may be, a further c e r t i f i c a te for

the appropriate amount to which it is entitled on the basis

of such regular assessment or order :

Provided that where the company has presented an appeal under section 2~4£~or section 253 or an application for re- ference under section 256 or an appeal under section 261 or an application for revision under section 264 against any order of the Income-tax Officer for the relevant year, or, as the case may be, where the company has taken l i ke action under the corresponding provisions of the Surtax Act, it shall not be entitled to make an application under t h is sub- paragraph in relation to the tax attributable to the amount of income which is disputed in such appeal, reference or re- vision unless such tax has been paid in f u l l.

(3) An application under sub-paragraph (1) shall be in

Form No. 1 and an application under sub-paragraph (2,) shall

be in Form No. 2, and in either case shall be made in dupli-

cate

(4) In a case where an application is made by the company

under sub-paragraph (1). the amount, if any, for which the company i" entitled to a c e r t i f i c a te shall be computed with reference to the tax which the company is l i a b le to pay on the basis of the return referred to in clause (b) of that sub-paragraph and the accounts and documents, if any, accom- panying it and after giving due effect to the allowance re- ferred to in sub.section (2) of section 32, any development rebate carried forward under sub-section (2) of section 33, any development allowance carried forward under sub'section (2) of section 33A and any Ions carried forward under sub- section (1) of section 72 or sub-section (2) of section 73 or sub-section (1) of section 74.

4. Grsnt of c e r t i f i c a t e .- U) The Income-tax Officer shall.

particulars from the company) as he deems f i t. by order de-

termine the e l i g i b i l i ty of the applicant for the c e r t i f i c a te

and the amount thereof.

(2) Where the Income-tax Officer is satisfied that the

applicant is so e l i g i b l e, he shall grant the c e r t i f i c a te in

Form No. 3 for the amount determined by him under "ub-para-

graph (1) and forward the sane to the applicant together

with a copy of the order under that sub-paragraph.

(3) Whereas a result of the inquiry, the Income-tax

Officer is s a t i s f i ed that the applicant is not e l i g i b le fix

the grant of the c e r t i f i c a t e, he shall, by order and for

reason* to be recorded therein, reject the application and

forward a copy of auah order to the applicant.

5. Appeal.- (1) Any company aggrieved by an order of the

Income-tax Officer passed under paragraph 4 may appeal to

the Commissioner against such order.

(2) Every appeal under sub-paragraph (1) shall be f i l ed

by the company aggrieved within thirty days of the date on

which the order sought to be appealed against is servea on

it.

(3) Every appeal as aforesaid shall be in Form No. 4 and

be accompanied by a copy of the order appealed against and

where a c e r t i f i c a te has been granted by the Income-tax Offi

cer, also by such c e r t i f i c a te (in original) which shall be

retained by the Commissioner and dealt *ith in accordance

with "uoh order as he aay pass under sub-paragraph ( 5 ).

(4) The Commissioner may admit an appeal after the expi-

ration of the period specified in sub-paragraph (2) if he

is s a t i s f i ed that the appellant had sufficient cause for not

f i l i ng it within that period.

(5) The Commissioner may, after giving the appellant d

reasonable opportunity of being heard, pass an order,-

(a) where the appeal is against an order rejecting the

application for the c e r t i f i c a t e ,-

(i) confirming the order appealed against, or

( i i) varying the said order and directing the

Income-tax Officer to grant a c e r t i f i c a te for

an amount to be specified therein, or

( i i i) setting aside the said order and directing

the Income-tax Officer to make a fresh deter-

mination under paragraph 4;

(b) where the appeal is against an order granting a

eeri^i ficate, -

"< >3

(1) confirming the order appealed aginst, or

( i i) varying the sold order and dirioting the l*su*

of a freah c"rti floats for an amount to b*

•pacified therein in l i eu of the cer'"ficate

alt"ady iiflu"d,or

( i i i) aetting aside the aaid order and directing

tb" Income-tax Officer to make a freah deter-

mination under paragraph 4. or

(IT) annulling the aaid order, and cancelling the

c e r t i f i c a te laaued ;

ProTided that the Commissioner ah all not p a ti an

order cancelling the Certificate iasued or directing

the iaaue of a freah c e r t i f i c a te for a leaser amount

than that for which the c e r t i f i c a te waa originally

granted, unless the appellant haa been given a reaaon-

abl e opportunity of showing cause specifically against

auch cancellation or direction.

(6) The Commissioner nay, before disposing o f an appeal,

make auch further inquiry as he thinks f it or direct the

Income-tax Officer to make auch inquiry and report the result

thereof to hi*.

(7) The Comniesioner may, where he considers it necessary

BO to do, require the presence of the Income-tax Officer at

the time of the hearing of the appeal.

(8) A copy of the order passed under sub-paragraph (5) or

sub-paragraph (6), as the case nay be shall be given to th"

appellant.

6. Specified period for using the mount of the c e r t i f i-

c a t e .- The period referred to in the proviso to eub-eection

(2) of section 280 ZB within which a company is required to

use the amount of the c e r t i f i c a te for any one or more of the

purposes specified therein (hereinafter in t h is Scheme refer-

red to as approved purposes) shall be a period of three con-

secutive financial years commencing with the financial year

immediately preceding the relevant year.

7. Production of c e r t i f i c a te before the I ncome- tax Of f I -

cer.- (1) The company shall produce the c e r t i f i c a te granted

to it together with a statement in Form No. 5 before the

Income-tax Officer who shall grant a receipt in reepeot

thereof in Form no. 6.

(2) The Income-tax Officer shall thereafter proceed to

adjust or. as the case amy be, refund, in accordance with

the provisions of sub-section (2) of section 280ZB so

much of the amount ahown on the c e r t i f i c a te as is equal to

the amount which it shown by the company to the satisfaction

• f the e-tax Officer t" henre been used by it during tb"

period s p e c i f i ed in paragraph 6 for any on* or l o r* of the

approved purposes.

(3) Notwithstanding anything contained in sub-paragarph (2), any amount used by the company during the period ipe- c i f i ed in paragraph 6 for any one or more of the approved purposes with reference to which the amount shown on the c e r t i f i c a te granted to it in respect of any relevant year has been adjusted or paid under that sub-paragraph shall not be taken into account for the purpose of Making adjustment or payment of the amount shown on a c e r t i f i c a te granted to the company in respect of any other relevant year.

8. Modification of orders and c e r t i f i c a t es under certain

circumstances.- (1) With a view to r e c t i f y i ng any mistake ap-

parent from the record, the Commissioner nay, by order in

writing, amend any order passed by him under paragraph 5 and

the Income-tax Officer may, by order in writing, amend any

order passed by him under paragraph 4.

(2) Any order under sub-paragraph (1) may be made by the

Commissioner or the Income-tax Officer, as the case may bei

e i t h er on hie own motion or on an application by the COM-

pany in r e l a t i on to whom the order was passed.

(3) Where -

(a) as a result of an order of re- assessedlnt or re- computation under section 147 or as a result of an order under section 154 or s e c t i on 155 or s e c t i on 250 or s e c- tion 254 or section 260 or section 2B2 or s e c t i on 263 or as a r e s u lt of an order under the p r o v i s i o ns of the Sur- tax Act corresponding to the p r o v i s i o ns of the s e c t i o ns referred to above, the tax which the company is l i a b le to pay for the bate year or, as the case may be, the suc- ceeding base year is determined at an amount which is higher than the amount with reference to whiah a c e r t i- f i c a te has already been granted to i t, or

(bJ on completion of the regular assessment under the

Act or as a r e s u lt of an order under s e c t i on 154 or sec- tion. 155 or section 250 or section 254 or section 260 or section 262 or s e c t i on 2S4 or on completion of the re- gular assessment under the Surtax Act or am a r e s u lt of qp order under the p r o v i s i o ns of that Act corresponding to the p r o v i s i o ns of the s e c t i o ns referred to above, the tax which the company is l i a b le to pay for the relevant year is determined at an amount which is lower than the amount with reference to which a c e r t i f i c a te has already been granted to i t,

the Inoome-tax Officer finds that the amount' for which the

c e r t i f i c a te was o r i g i n a l ly granted to the company is in

• "" *_, t -

excess of the mount to which the ooBpocy is entitled, • h"

'shell proceed te Make a fresh determination under paragraph

4.

(4) Mo order under nub-paragraph (1) which prejudicially

affects any person to whom the c e r t i f i c a te was originally

issued and no order under sub-paragraph (3) ahall be node

unless the officer passing tne order has given notice to

each, person oi hi* intention no to do and has allowed such

p"r*en a reason able opportunity of being heard-

(5^ with a view to giving effect to an order under sub-

paragraph (1) or sub-paragraph (3). the Incese-tax Officer

may, Lt the c e r t i f i c a te has not b""a produced before him,

r"call the c e r t i f i c a te at any time after aation under either

of the said sub-paragraphs has been i n i t i a t ed and thereafter

the c e r t i f i c a te shall be dealt with in accordance with such

order.

(6) Where, in consequence of an order under sub-paragraph

(1) or sub-paragraph (3), the Income-tax Officer finds that

the aaount for which "the c e r t i f i c a te was originally issued

to a ooupany is in excess of the amount determined under the

crder aforesaid, he may set off the aaount of such excess

against the amount of any other c e r t i f i c a te which, has becosa

due xo the i ve company.

(7) where at any time after action has been i n i t i a t ed

under sub-paragraph (1) or nub-paragraph (3) , the Jocose- ta>

Officer finds that the relevant c e r t i f i c a te has already been

produced before him and that -

(i) no adjustnent &r payaeat has been made in pur-

suance of sub-aection '2) of section 230ZB, he May deal

•with the c e r t i f i c a te in accordance with h is order under

either of the said sub-paragraphs;

( i i) a p a rt of the aaount covered by the c e r t i f i c a te has been adjusted and the payment of the balance has DO been Bade under the provisions of the said sub-section, he ttay cancel the c e r t i f i c a te in so far as it relates t the auount of such balance and thereafter, where neces- sary, issue a fresh c e r t i f i c a te in accordance with his order under either of the said sub-paragraphs;

( i i i) the whole of the anount covered by the c e r t i fi

Oate has been adjusted or paid under the aforesaid sub-

section, or in a case f a l l i ng under clause ( i i) the

aaount already adjusted is in excess of the anount de-

termined under the order aforesaid, he nay serve upon

the coipany a notice of deaand under section 156 for

the BUB by which the mount of the c e r t i f i c a te o r i g i-

nally issued or, as the cat* may b", the amount ad-

justed or paid exaeeda the amount determined under the

ord"r aforesaid, a* if it were a sum payable in conse-

quence of any order passed under the Act and all the

provisions of the Act oh all apply accordingly,

9. Service of notice*, orders and c e r t i f i c a t e s .- All

notices, orders and c e r t i f i c a t es issued under t h is Scheme

may fie addressed and lorred in the manner specified in

section 28 2.

10. Issue of duplicate c e r t i f i c a t e .- (1) In the event of l o ss or destruction of a c e r t i f i c a te the amount shown whereoi has not already been adjusted or refunded by the Income-tax Officer under section 280ZB, he may, on application made to bin by the company and after Baking such inquiry as he deeds f i t, issue a duplicate of such c e r t i f i c a te :

Provided that no such application for a duplicate shall

be entertained after the expiry of one year from the date

of th* original c e r t i f i c a t e.

(2) Where a duplicate has been issued under sub-paragraph

(1), it shall bear the endorsement

DUPLICATE OF CERTIFICATE BEASING BOOK NO

VOUCHER NO.. DATED "VALID

ONLY IF THE ORIGINAL HAS NOT BEEN ACTED UPON*

made in red ink; and the original c e r t i f i c a t e, if and when

discovered or produced thereafter, shall be of no e f f e c t.

APPENDIX

FORM NO. 1

TAX CREDIT CERTIFICATES

Application lor the £rmt of Tmx Credit Certificate

[See paragraph 3 of the Tax Credit Certificate

(Corporation Tax) Soheae, 19B6]

To

(Income-tax Officer;

Sir.

I" - . . . . . -_ being the principal (name)

officer ef Messrs. ,., Ltd., request that

(name of the company)

a tax credit c e r t i f i c a te under section 280ZB of the Income-

tax Act. 1861 be granted for the appropriate asount to whioi

the said company is entitled for the assessment year 19

19 The relevant particulars are furnished herein below.

1. Name and address of the coup any

2. G.I.R. No.

3. Article(s) manufactured or pro-

duood indicating the nunber(i)

of the relevant itaa(>) of the

First Schedule to the Industries

(Development and Regulation)

Act, 1951.

4. Assessment year for which the

tax credit c e r t i f i c a te it claimed

5. Where the company is not l i a b le to

pay any income-tax or surtax in res-

pect of i ts p r o f i ts and gains attri-

butable to the manufacture or pro-

duction of the article(s) specified

against S.No.4 for the base year,

namely, assessment year 1965-66. any

succeeding assessment year for whiah

the company has f i r st become l i a b le

to pay such tax (succeeding base

year)

18 --i9

6. Details regarding the base year

1965-66/succeeding base year 1 9 . . . . - ~ 19

INCOME-TAX

(1) Date of the order of regular assessment

( i i) Where the total income determined in

the regular assessment has been modi-

fied by an order in appeal, revision

or any other proceeding under the In-

come-tax Act, 1961. the date of such

order. Rs

( i i i) Total income determined in the regu-

lar oieesement as modified by a"

order, if any, referred to in item

( i i) Rs

(Iv) Tax payable in the total income spe-

cified in item ( i i i) Rs

(v) Profits and gains attributable to

the manufacture or production of the

article(s) specified against S.No.3

included in the total income specified

in item ( i i i) Rs

(vi) Tax attributable to the profit* and

gains specified in itMi (rl Rs

SURTAX

(vii) Dot* of the order of regular assesn-

mant

{ v i i i) Where the chargeable profit* deter-

ainad in the regular assessment have

been modified by an order in appeal,

revision or any othur proceeding

und"r the Companies (Profits) Surtax

Act, 1964. the date of such order.

.

(ix) Chargeable profits determined in the

regular assessment as modified by an

order, if any. referred to in it am

(viii) HB

(x) Surtax payable on the chargeable pro-

f i ts -pecdf l ed in item (ix) Ro.

(xi) Chargeoble p r o f i ts a t t r i b u t a b le to

this Manufaoture or production of the

articl"(s) specified against S.No.3

included in the chargeable p r o f i ts

in i t s" (ix) Rs

( x i i) Surtax attributable to the charge-

able profit* specified in itmi (xi) Rs

( x i i i) Total of income-tax attributable to

the profits and gains specified in

iteB (Y) and surtax on the chargeable

profits specified in item (xi) - [it6=

(vi) pi us iten ( x i i )] Rs

7. Particulars relating to the relevant year

(assessment year specified against S.No. 4) :

INCOME-TAX

(i) Date of furnishing of return of income

( i i) Total inaoie "• per return Rs

( i i i) Tax payable on the total income spe-

cified in item ( i i) Rs

(iv) Profits and gains attributable to the

• anufacture or production of the

a r t i c l e ( s) specified against S.No. 3

included in the total income speci-

fied in item ( i i) Rs

(•} Tax attributable to tarn profits and

gains specified in i t s* (ivl Rs

SURTAX

(vi) Date of furnishing of return of charge-

able profits

( • i i) Total chargeable profits as per

return Rs

( v i i i) Surtax payable on the chargeable

profits specified in item (*ii) Rs

(ix) Chargeable profits attributable to

the manufacture or production of the

a r t i c l e ( s) specified against S.No.3

included in the total chargeable profits

specified in item ( v i i) Rs. . . . . . . ..

(x) Surtax attributable to the chargeable

profits specified in item (ix) Rs

(xi) ..Total of income-tax on the profits and

grains specified in item (iv) and sur-

""x~^n the chargeable profits specified

in ite*~-^4x) (i t e jn ( v) p J us i t eB (x )] Rs

8. Amount hir -%ioj"- the tax shown against i t e*

(xi) Ml S.No,,7 exceeds the tax shown against

it^ft ( x i i i) of S.No.6 Rs

%* Twenty per cent, of the amount shown gainst

S.No.8 Rs

10. Ten per cent, of the amount shown against

item (xi) of S.No.7 Rs

I hereby declare that to the best of my knowledge and b

l i ef the information furnished above is correct, complete

is truly stated.

Yours faithfully.

Pi ace Signature. .-

(Principal Officer)

Date

FORM No. 2

TAX CREDIT CERTIFICATES

Application for the grant of Tax Credit Certificate

[See paragraph 3 of the Tax Credit Certificate (Cor-

poration Tax) Scheme, 1966]

To

(Income-tax Officer)

Sir.

I

beinq tne principal

(Names

officer of Messrs _ Ltd.,

tNa"e of the Conpany)

request that a tax credit certificate under section 280ZB

of the Income-tax Act, 19E>1 be granted for the appropriate

further amount to which fh" said company io entitled for

the aiieiinent year 1 9 . . .— 19-•- - The r e l e v o n i nn

L am are furnished hereinbelow

1. Name and address of the company

2. G.I.R. No.

3. Article(s) manufactured or pro-

duced indicating the number(a)

of the relevant item(s) of the

First Schedule to the Industries

(Development and Regulation)

Act. 1951.

4. Assessment year for which the

tax credit certificate i" claimed

5. Particulars of any certificate(s) Book No

previously granted in respect of Voucher No

the said assessment year Amount Rs

Date

6. Where a certificate has been pre-

viouely granted to the company in

respect of the said assessment

year, state the reason(s) for mak-

ing a further application for the

grant of certificate for the same

assessment year. ^ _

SEC. 3 ( i i )] THE GAZETTE OF INDIA EXTRAORDINARY 1395

7. Where the company 1B not liable

to pay any income-tax or surtax

in respect of its profit* and

gains attributable to the manu-

facture or production of the

article(s) specified against S.

No.3 for the base year, namely,

assessment year 1965-66, any

succeeding assessment year for

which the company has first be-

come liable to pay such tax

(succeeding base year) 19... — 19... ,

8. Details regarding the base year

1965-66/succeeding base year

19... — 19... •

INCOME TAX

(i) Date of the order of re-

gular assessment ....

(ii) Where the total income

determined in the regular

assessment has been modi-

fied by an order in appealt

revision or any other pro-

ceeding under the Income-

tax Act 1961, the date of

such order.

(iii) Total income determined in

the regular assessment as

modified by an order, if any,

referred to in item (ii) Rs

RB

viv) Tax payable on the total

income specified in item

(iii)

(v) Profits and q iins attribu-

table to the Manufacture

or production of the arti-

cled) specified against

S,No.3, included in the

total income specified in

item (lil) Rs

(vi) Tax attributable to the

profits and gains speci-

fied in item (v) Rs

1"" THE GAZETTE OF INDIA EXTRAORDINARY [PART II SURTAX

(vii) Date of the order of re-

gular assessment "

(Viii) Where the chargeable pro-

fits determined in the re-

gular assessment have been

modified by an order in

appeal, revision or any

other proceeding under the

Companies (Profits) Surtax

Act. 1964. the date of such

order

(ix) Chargeable profits deter-

mined in the regular assess-

ment as modified by an order,

if any. referred to in item

(Tiii) Rs

(x) Surtax payable on the charqe-

able profits specified in

item (ix) Rs

(xi) Chargeable profits attri-

butable to the manufacture

or production of the article*(s)

specified against S.Nb.3

included in the chargeable

profits specified in item (ix) Rs

(xii) Surtax attributable to the

chargeable profits speci-

fied in item (xi) Rs

(xiii) Total of income-tax on the

profits and gains specified

in item (v) and surtax on

chargeable profits speci-

fied in item (xi) [item (vi)

plus item (xii)] Rs ..

Particulars relating to the relevant

year (assessment year specified

against S.No.4):

INCOME TAX

(i) Date of the order of regular

assessment

(ii) Where the, total income deter-

mined in the regular assessment

"H^ *CHi\ THE GAZETTE OF INDIA EXTRAORDINARY U"7

order in appeal, revision or

any other proceeding under

the Income-tax Act, 1961, the

date of such order.

(iii) Total income determined in

regular assessment as modified

by an order, if any, referred

to fcn item (ii) - Rs.

come specified in item (iii)Rs

(•) Profits and gains attribut-

able to the manufacture or

production of the article(s)

specified against S.No.3 in-

cluded ia the total income

specified in item (iii) Rs

(ri> Tax attributable to the pro-

fits and gains specified in

item (•) Rs

SURTAX

(•ii) Date of the order of regular

assessment

(•iii) Where the chargeable profits

determined in the regular as-

sessment have been modified

by an order in appeal, revi-

sion or any other proceeding

under the Companies (Profits)

surtax Act, 1964, the date of

such order

(ix) Chargeable profits determined

in the reqular assessment as

modified by an order, if any,

referred to in item (•iii) Rs

(x) Surtax payable on the charge-

able profits specified in item

(ix) Rs

(xi) Chargeable profits attri-

butable to the manufacture

or production of the arti-

cle(s) specified against

S.No.3 included in the

chargeable profits speci-

Rs. .,.....".

129B THE GAZETTE OF INDIA EXTRAORDINARY j>AKT II

(xii) Surtax attributable to the

chargeable profits speci-

fied in item (xi) Rs

profito and gains speci-

fied in item (v) and surtax

on the chargeable profits

specified in item (xi)

[item (vi) plus item (xii)] Rs

10. Amount by which the tax shown

against item (xiii) of S.No.9

exceeds the tax shown against

item U i iD of S.No.8 Rs *."*

11. Twenty per cent, of the amount

• hown against S.No.10 Rs

12. Ten per cent, of the aiount shown

against item (xiii) of S.No.9 Rs

I hereby declare that to the best of my knowledge and

belief the information furnished above is correct, couplet*

and is truly stated.

Yours faithfully,

Place.... - Signature ,

(Principal Officer)

Date

Where no application hat been m"de in Form No. 1 for the aam* aiteaament year, thr word ' f u r t h e r' should be "cored out.

FORM No. 3

COUNTERFOIL POBM No. 3 FOIL FORM No. 3 [See paragraph 4 of the Tax [See paragraph 4 of the Tax Credit Certificate (Corpora- Credit Certificate (Corpora- tion Tax) Scheme, 1966] tion Tax) Scheme, 1966] Tax Credit Certificate Tax Credit Certificate (Corporation Tax) (Corporation Tax) National Emblem National Emblem Government of Indira Government of India Certificate not negotiable Certificate not negotiable ^ook No Voucher No Book No Vo r

OFFICE OF THE OFFICE OF THE

Certificate issued to Whereon Meesro Messrs., Ltd Ltd. (name and address) entitled to a tax credit Amount of tax credit certificate under section certified 280ZBof the Income- tax At. _ , M 1961 for the assessment yi Reference No. 19.... — 1 9 . . .. with refen.

Assessment year for to an a m o u nt of flB which certificate (Rupee* ia granted being the excess of the am Particulars of anylQook Wo. .. ount of income-tax on pro- certificate (s) Voucher No. f i tB a nd a a i n" attributabi previously qranted . to the manufacture or pro- in respect of the A m o u nt duction of the article(s) said assessment Date specified in the First Scl year

dule to the Industries (D INTERNAL AUDIT velopment Regulation) A. Total of income tax on pro- Act, 1951 and surtax on fits and aains attributable charqeable profits attri- to the manufacture or pro- butable to the said raanu- duction of the article(s) facture or production for mentioned in the First Sche- the relevant assessment y- dule to the Industries (De- over the amount of income velopment & Requlat ion) Act, tax and surtax on such pr 1951 and surtax on charge- tits and g a me and charge able profits attributable tc profits, respectively, fo the said manufacture or pro- the base year/succeedinq duction, payable by the com- base year

pany in the bane year/sue- N o w< t h e r e f o r 6i u is ceeding Base vear certified that in reapec

the said assessment year B. Total of income-tax on pro- company is entitled to a fits and gains attributable credit of Rs to the manufacture or pro- (Rupees duction of the article(a) under section Z80ZB of ; specified in the First Sche- Income-tax Act, 1961 ret dule to the Industries (De- with the Tax Credit Cer velopment and Regulation) cate (Corporation Tax) Act. 1951 and surtax on 1966. chargenble profits attri- butable to the said manu- facture or production, pay- (Incore-Tax 0 able by the company in the relevant assessment year CG 3s

Date and seal

C. Amount by which t he amount

at B e x c e e ds t h at at A

(B minus A) Rs

D. Twenty per cent, of the

amount at C Rs

E. Ten per cent, of the

amount at B Ra

F. Tax credit admissible

(D or E, whichever is

lower) Rs - ....

G. Amount(a) for which

certi ficate(a)

granted previously Rs

H. Balance now due RB

Certificate examined and

found correct,

(Auditor)

bate

The amount shown on the The amount shown on the

ooverse has been dealt with obverse has been dealt with

an under:- as under:-

A. Adjusted against tax/ A, Adjusted aaainat tax/

penalty/interest/oth"r penalty/interest/other

gumi in respect of the suns in raapect of the

assessment year :- assessment year :-

19.,.- 19...Rs... on 19... - 19...Re on

(date)

(date)

19... -19...Rs....on 19... - 19...Rs.,..on

19... -19...Rs,...on 19... - 19...RB....on

19...- 19...Ha....on 19... - 19...R"...- on

Total Rs Total Rs

Refunded under Refund B. Refunded under Refund

Voucher .No Voucher No... , .......

SEC. 3(ii)] THE GAZETTE OV INDIA EXTRAORDINARY 1301

Book No Book No

Ra on...... Rs on —

urand

"rand Total Rs Total Rs

Signature

(Income^Tax Officer)

Circle/Ward/Diatrict

Place

Thl" should t a l ly with the amount Thin ihould t a l ly with the amount

thown on the o b v e n a.

shown on the o b v e r s e.

FOPM No. 4

TAX CREDIT CERTIFICATES

APPEAL TO

(Appellate authority)

[See paragraph 5 of the Tax Credit Certificate (Corporation Tax) Scheme, 1966]

.(Designation of the appellate authority).

No of 19 19 Name and address of the appellant

Financial year to which the claim for tax credit certificate relates .,

Income-tax Officer passing the order appealed against

Paragraph and sub-paraqraph of the Tax Credit Certificate (Corporation Tax) Scheme, 1966 under which the Income-tax Officer passed the order appealed against

Date of the order appealed aqainst

Date of service of the order appealed aqainst

m

1302 THE CAZETTE OF INDIA EXTR \ORD1NARY [pAKT II

No. and date of the tax credit certificate, if any, in respect of which the appeal is made

- Relief claimed in appeal

Whether personal hearing is desired

Address at -hie}) notices may ne sent to the appellant

Signature

'(Appellant)

STATEMENT OF FACTS

GROUNDS OF APPEAL

Signature

,

(Appellant)

FORM OF VERIFICATION

If

f being the Principal Officer of W?¹??}

, t he a p p e l l a n t, do hereby (Name of the Company)

declare that what is stated above is true to the

best of my information and b e l i e f.

Place Signature

Date Address

Note: Tn" memorandum of appeal, statement of facts und the grounds of

appeal must be in duplicate and should be accompanied by a copy

of the order appealed against and where the appeal u agninit an

order granting • tax credit c e r t i f i c a t e, by such c e r t i f i c a t e.

These particulars will be f i l l ed in in the office of the appellate

autnorltv

If the space provided herein n insufficient separate enclosures

may Le used for the purpose.

SEC. 3 ( i i )J THE GAZETTE OF INDIA EXTR VORDINARY 1303

FORM No. 5

TAX CREDIT CERTIFICATES

Form of application tor Adjustment or Refund ot the amount

of the Certificate.

[See paragraph 7 oi the Tax Credit Certificate

(Corporation Tax) Scheme. 1966]

To

The Income-tax Officer,

Sir.

lf . ^being the Principal Officer of

Ltd., hereby apply

kNcoiia of t he Company)

"for adjustment and/or retund ot the amount of the certificate granted to the said company under section 280ZB of the Income tax Act, 1961. The relevant particulars are furnished here- inbelow:- (1) Name and address of the company

(2) G . I . R. N o.

(3) Assessment year in respect of which

the certificate has been granted

(4) Particulars of the certificate Book No

Voucher No

Date

(5) Amount of the certificate Rs

(6) Details showing amount used for

the purposes specified in the

proviso to sub-section (2) of

section 280ZB during the period

specified in paragraph 6 of the

Scheme :

19.. -19.. 19.. -19.. 19.. -19.. Total

(i) Amount used for repayment

of loans taken from any

financial institution

notified fav the Central

Government (Details as

per Annexure)

(ii) Amount used for the acgui-

sition of any capital

^J (,4 THE GAZETTE OF INDIA EXTRAORDINARY [PAMT I I - S E C. 3(II)J

a"set in India, including the .construction of any building, for the purposes of the business (Details as per Annexure)

(iii) Amount used for redemption

of debentures (Detaila ae per Annexure)

TOTAL "*"

I hereby declare that what is stated in this application in correct, complete and is truly stated.

Signature

(Principal Officer) Place £ )a te >

FORM No. 6

TAX CREDIT CERTIFICATES

heceipt for Certificate produced

before the Income Tax Officer

[See paragraph 7 of the Tax Credit Certi- ficate (Corporation Tax) Scheme, 1966]

Received from ,

(Name and address of the Company)

Tax Credit Certificate (Corporation Tax) Book No

Voucher Wo Dated

for Rs (Rupees ) .

(in words)

(Signature of the Income-tax Office:

Circle/Ward/District)

Place

Date

[No.80/F.No.3(42)-65/tPL.

JAivlUNAA PRASAD SINGH. Addl. Secy

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