333

MINISTRY OF INFORMATION & BROADCASTING

PUBLIC NOTICE NO. l-PR-NP/81

New Delhi, the 28th April, 1981

File N». 33(49)/81-PR —In terms of para 7 of Appendix

9 of the Import Policy for 1981-82, Government of India in

ihe Ministry of

Information

and

Broadcasting hereby

notify the basis of newsprint

entitlement to newspapers/

periodicals and other procedure relating to it as is annexed

in 1he Annexure I, II, m, IV, V & VI of this Public Notice

and shall be applicable from April 1, 1981 to March 31,

1982. The price of imported newsprint in all varieties will

be fixed separately for each quarter of the above licensing

year and the same will be announced through State Trading

Corporation of

India, New Delhi.

SURESH MATHUR Jt. Secy.

ANNEXURE

NEWSPRINT AIXOCATOIN POLICY 198I-M

1. Entitlement

1.1 All applications for allocation of newsprint must be

made in form I (reproduced as Annexure VI to this policy)

and supported by such documents as required under subse-

quent paragraphs of this policy. The applications should

be addressed to the Registrar of Newspapers for Fndla, New

Delhi. No application for initial allocation of newsprint will

be entertained after Uctober 31,

V)H1, front a newspaper

which was being published as on March 31, 1981.

1.2 The basic entitlement of newsprint of an individual

newespaper/periodical in 1981-82 will be determined on the

basis of ihe actual consumption of newsprint or white prinir

in« paoer or both in the calendar year 1980, taking, into

Kcount its average- circulation, the average page area actually

published, the number of publlsWtlir days etc. It will be based

on the averafie number of pases published in 1979, except

in tire case of a dally newspaper which Increased the number

of its pages up to 8 per day in 1980. In such cases, the

114GI/81—2

average number of pages in 1980 will be taken into account.

The performance particulars required for working out the

entitlement should be furnished in the form as in Annexure

II, duly certified by a Chartered Accountant wherever the

circulation exceeds 2,000 copies per published duy.

1.3 Newspapers and periodials may be allowed on appli-

cation an initial

increase

over

the basis entitlement as

follows ;—

(i) Nowspapcrs/and periodicals

5 per cent over the basic

with circulation above

entitlement.

50,090 copies per uiblisning

day.

(ii) Nowspapers/roriodicals with

7 per cent over the busic

circulation upto 50,000 copies

entitlement, or [he act-

per publishing day.

ual percentage in incre-

ase in circulation bet-

ween 1979 and

1980

whichever is more.

1.4 Newspapers which have secured the basic entitlement ot

newsprint for 1981-82 can, if they so want, apply for up-

ward revision on the basis of actual increase in circulation

once. These applications must be accompanied by the per-

formance particulars in annexure II to the policy and should

reach the Registrar of Newspapers not later than December

31, 1981. Except in the case of newspapers with a circula-

tion of 2,000 copies or less per publishing day, annexure 11

must be countersigned by a Chartered Accountant in support

of the claim. In the case of newspapers and periodicals whose

en itlement of newsprint is 300 mts. or more, the application

must be accompanied by an authenticated copy of the Income

tax return and the balance sheet for the year 1980-81.

1.5 The enti'lement worked out in accordance with paras

1.2, 1.3 and 1.4 above may be revised/varied in the light of

such factors as the likely availability of newsprint, the need

to maintain appropriate quan ities m buffer stock and the

general state of anticipated supplied. Cuts of a general nature

may niso be applied in the light of anticipation of shortfalls

in supplies/produclion/stocks.

1.6 The Registrar of Newspaper* may call upon any news-

paper/periodical to- render account of the consumption for

any period of not less than three months during the liccnsinK

year and he may reduce the entitlement of that newspaper/

periodical accordingly, if the same is in excess of what would

be admissible in the light of paras 1.2, 1.3 and 1.4 above.

1.7 In working: out the initial entitlement in terms of para

1.2 and 1.3 above and in making revision in terms of para

1.4 above, abnormal short-term drops in circulation arising

from special circumstances including strikes /lockouts or other

reasons as also abnormal short-term increases in circulation

attendant upon closure or disruption of work in competing

newspapers at the same place of publication or any other

extraordinary circumstances, may be ignored by the Registrar

of Newspapers as may be considered appropriate by him in

each case, reliance being placed updn normal average circu-

la'ion, etc. In the case of newspapers which could not come

out for abnormajiy long period the entitlement may be worked

out after taking into account other relevant factors,

1.8 The entitlement of newspapers/periodicals for standard

newsprint as also indigenous newsprint will be worked out

on the basis of 51 grammes substance plus or minus 5 per

cent.

1.9 When the entitlement is made for indigenous news-

print, it will be increased by 15 per cent.

i. New dollies and periodicals

2.1 A new- newspaper/periodical will be allowed an initial

quota which will be determined by the Registrar of News-

papers fc-i India upon his satisfaction with regard to the

projection of circulation by the applicant but not exceeding

the requirement calculated on the bails of average circulation

334

THE GAZETTE OF INDIA : EXTRAORDINARY

[PART 1—Snc\ 1]

upto a maximum of 10,000 copies of 8 standard page¹* in

the ease of dailies and 16 standard paces in the case of

weeklies, triweeklies, bi-weeklies, fortnightlies and monthlies,

per publishing day for the first four months. The application

for the initial ciiorn along with the completed prolornin £.t

Annexure III will be accompanied with a bond executed by

the applicant and duly guaranteed by any scheduled bank for

20 rcr cent of tMe value of the newsprint to whuh he is

entitled ini'iiiJy. This brnd wili be cancelled on the production

of documentary evidence to the satisfaction oi the Registrar

of Newspapers for India to show that the newsprint has ocen

utilised for the r'^'l'cMion

the

newspaper/oorio'.ilcal.

After three months of regular publication, the new newspaper/

periodical should produce evidence as per Annexure II to

the satisfaction of the RNI about proper utilisation of the

newsprint Initially allocated to it, ?o that <hc entitlement for

the year is made out on the basis of the actual performance.

2.2 Existing newspapers/periodicals which did not obtain

newsprint in the ye?r 1980-81 will be treated a.-; new news-

papers/periodicals, and (heir initinl quota will be calculated

on the basis given in

para 2.1 above as the case may be

from the month of receipt of their applications and further

entitlements may be worked out, subsequently in terms of

pura 2.1 above. SucJi application must be accompanied by

the copy of the annual return for 1980 submitted to PN(.

3. Save in special cases, the following categories of news-

papers and periodicals will not be entitled for nlloca.ion of

newsprint, though they are classified as newspapers:

fa) Journals published primarily to promote sale of goods

or services;

(b) House jourWLs/magazinea brought out by under-

takings/firms/industrial concerns.

fd) Publications intended for free distribution.

(e) Fiction.

(f) Racine guides.

fg) School/Colleae Magazines.

fhl Newspapers/periodicals

with a regularity of less

than 50 per cent in a year.

4. Tn the case of newspapers/periodicals, the circulation of

which has been assessed by the RNI to be lower than the

claimed circulation for the

calendar year 1978, 1979 or

1980, the entitlement for 1981-82 of such periodicals/news-

papers will be calculated on the basis of assessed circulation

and the newsprint entitlement adjusted accordingly, These

newspapers/periodicals will not be eligible for benefit under

para 1.4 above until their circulation is reassessed.

4.1 Newspapers the circulation of which is declared as

unestablished in 1978, 1979 or 1980 will be treated as new

newspapers and governed by para 2.1 above for allocation of

newsprint.

5. AllocnKlon

5.1 Allotment

of all types of

newsprint—standard, ro'.o

and glazed—will

generally be

made in reels. Newspapers

printed on sheet-fed machines will, however, receive iheir

entitlement only in sheets. In case sheets are not available,

the entitlement will be raised by 5 per cent for conversion of

reels into sheets cm giving proof that printing is actually

carried out only in sheets.

5.2 Newspapers/periodicals will not be permitted to adjust

between them the quota allotted to each of them even when

the publications are under the same ownership and/or bear

the same title/name and even through they may have been

allowed to club together the entitlement of each unit for

administrative convenience in lifting of newsprint from STC

and/or indigenous sources.

5.3 The authorised quota of newsprint allotted under the

policy to a newspaper/periodical may, however, be used for

a new edition of the same

newspaper/periodical and the

newsprint so used shall be accounted for separately, Howevar,

the newspapew/epriodlcals will

give

Intimation

rer

Annexure IV to th<- RNI at least one month prior to ths

start of the new edition, in respect of the projected circulation,

page area, average number of pages, etc. of the new edition

and likely diversion of newsprint from ihe parent edition.

The entitlement of tho parent newspaper may be reassessed

iiccordinuly. However, this entitlement may be revised and a

fresh entitlement fixed

for the new

edition, after three

months of

publication on the basis of the actual variation

in circulation.

NOTE :—For the above

purpose, an 'edition' is a news-

paper /tperiodical which, irrespective of the place

of publication, bears the same name|title, is in the

snme language and has the same periodicity as the

newspaper/periodical already being published by the

same

ownership/management,

and is a reprint

separate run of the nevvspaper/periodicul with vari-

ations dictated by the time factor and to meet

requirements of existing

local

readership

and

speedier distribution.

6. Glazed, Indiecnous and other varieties

6.1 Periodicals which have been in regular publication

for more than three months, may be allowed to claim their

full entitlement or a portion of it in glazed or rotogravure

newsprint subject to availability.

6.2 The basis of allocation of indigenous and imported

newsprint will be as follows :—

(i) Newspaper* with an entitlement of upto 400 mts.

will have the option to lift any proportion of their

requirements from indigenous or imported news-

print-—both from high sea sales as well as from

buffer stock.

(ii) Newspapers with entitlement of 400 mts. or more

will have to lift at least 15 per cent of their

entitlement from indigenous newsprint. Such news-

papers will also have to place orders for at least 75

per cent of their entitlement of imported news-

print from high sea sales.

(iii) If shipment is not effected within 120 days of receipt

of L/'C's by STC. efforts will be made to allot propor-

tionate tonnage from incoming buffer stock shipments

on high sen sales basis which will be later repleni-

shed.

6.3 The Registrar of Newspapers may also vary the pro-

portion of indigenous and imported newsprint in the light of

availably of stocks from time to time. Newspapers/periodi-

cals will have to take indigenous newsprint in sizes that are

made available,

6.4 If any newspaper/periodical had not utilised any quantity

allotted in 1980-81 or in previous years, the unutilised quan-

tity will be adjusted against its entitlement for 1981-82.

6.5 Newspapers which may suspend or cease publication

shall return Ihe newsprint not utilised.

7. Wurtacc

7.1 A uniform 5 per cent extra newsprint will be allowed

in all cases on entitlement to compensate damage caused to

the newsprint in transit and in the Prese. In case of periodicals

using multicoloured printing, extra compensation of 2 per

cent w'^:l be allowed over the normal wastage.

8. MlsceUaneotis

8.1 The work relating to distribution of imported news-

print will be handled entirely by the State Trading Corpo-

ration, The Registrar of Newspapers for India will give com-

plete entitlement duly

worked out of all the newspaper

applicants to STC, which in turn will give imported news-

print either from high sea sales or from buffer in such ratio

as may be prescribed from time to time according to the

bn?ls laid down in para fi,2fii) above.

8.2 Authorisations for the indigenous portion of the news-

print entitlement will be issued direct by the Registrar of

Newspapers for Tndia to the Mills concerned.

8.3 Newspapers which do not comply with the provisions

of the Newsprint Allocation Policy or Newsprint Control

Order or both, will not be allowed newsprint quota until

they comply with the provisions. Newsprint dealers/acents

will not be allowed to act as authorised agents for delivery

on high sea sales and buffer if they do not comply with the

provisions of the Newsprint Control Order.

335

8.4 Those newspapers which do not lift their allotments

from high sea sales or

buffer stocks or from indigenous

sources within a period of two months of the receipt of the

allocation order, will be liable to lose further authorisation

both for, imported

newsprint and indigenous newsprint.

However, those with an entitlement of less rhan 50 niti may

be allowed to lift, their allotments wihin si<( months.

8.5 Newspapeis/periodkals which are given allotment, on

high sea sales basis, will be allowed to take delivery also

through the State Small Industries Development Corporations

(or any other such Corporation functioning in the Slate) or

through their iiuthorlscd agents. Delivery on high sea sales

basis will be subject to the minimum quantity booked by the

foreign supplier. Small newspapers which do not fulfil this

condition cf high sea «ules allocutions because their i*n;il!e-

ment is too small to be covered by that arrangement, c;in

also club their entitlement with other small newspapers and

get the newsprint

from

high sea sales through

either the

State Small Industries

Development Corporation (or cny

other such Corporation functioning in the State) or Ihroufih

their authorised agents acting on their Behalf.

8.6 Since Indian Mills are not in a position to despatch

consignment of less than one wagon load, allottees of smaller

quantities will have (o make their own arrangements for

transport of such newsprint allotted to them.

8.7 The number of copies distributed free, unsold returns

or any other copies printed but, neither sold nor distributed

free, will be taken into consideration for purpose of deter-

mining the entitlement /consumption of newsprint, provided

ihut these represent a reasonable percentage of their print,

order and in any ense not exceeding the following limits :—

Circulation

Upto 2,500

Between 2,500 and

Between 5,000 and

A'love 10,000

5,000

10,000

Dailies

tci-& bi-

weeklies

10%

Weeklies

& fortnight-

lies

20%

15%

10%

Others

25%

20%

15%

10°/

8 8 Newsprint obtained in 1980-81 under the scheme for

Export Promo ion etc. will also be taken into account for

determining quantity utilised/held in stock by the newspapers

in 1980-81. For thii purpose, information should be furnished

in Annexuie V 10 this Public Notice.

9.1 In cases where an application may not be formally

complete or does not comply with any or all of the require-

ments above, the Registrar of Newspapers for India may

waive the procedural requirements

including relaxation of

last dates for

receipt

applications for good nnd valid

reasons. The Registrar of Newspapers for India may also

relax any of the conditions of the Policy for good and valid

reasons,

9.2 Newsptin' may be authorised by the Registrar of News-

papers for India for

specialised purposes other than the

requirements for the production of newspapers/periodicals

where such purpose may be related to the newspaper industry

such as experimental use in printing machinery manufacture

or any other cognate or germane purposes. For this purpose,

A quantity of 5,000 mts. will be at the disposal of the

Registrar of Newspapers for India.

ANNEXURE—TI

Form of Chartered Accountant's Certificate regarding circulation etc. for the calendar year

1980

(To be typed on the letter-head of the Chartered Accountant)

1, Name of the Newspaper/Periodical

3. Language

2. Place of Publication

4. Periodicity

(a) Average no. of copies printed

month-wise per publishing day

(b) Average no. of

copies sold

monthwlse per publishing day

free moruhwisc per publishing

day (including complementary,

voucher,

exchange,

bonus

sample and office copies

(d) Average no. of month-wise un-

sold returns and other copies

printed but not included in (b)

&(O

of the newspaper/periodical in

sq-ctn.

(f) Average no. of pages month-wise

of the newspaper/periodical per

publishing day

(g) Actual no. of publishing days

raonthwise

Total consumption of newsprint

in mts (Qty. In mts.)

during the calendar year 1980

Total consumption of white

printing paper In mts, during the

year 19S0.

1980

1979

1980

Jan.

Feb.

Mar. April

May

Juno

July

Aug.

Sept.

Oct,

Nov.

Die.

Average

for the

Signature of the publisher

Date

336

THE GAZETTE OF INDIA : EXTRAORDINARY

[PART J—SEC 1]

CERTIFICATE OF CHARTERED ACCOUNTANT

I/We have examined the books and account of M/s

(name, language and periodicity of ths papar) publishjd for tha calendar yjar 198Q and hvie obtain;d all th: information and explanation

required by us. In my/our opinion ths statement set forth above reflects trus and correct analysis of circulation, pagt, size and nujnbei of

publishing days for the calendar year 1980 to the bast of my /our inform uion and balief and according to ths explanation given to

me/us by the books of account etc.

Date :

Signature

Stamp of the Chartered Accountant

1. Name and signature of the person

who hgs signed the certificate.

2. Registration No

3. Address

ANNEXURE—IH

Statement to be given by the publishers of New Daily/Periodical

1. Name of the Newspaper/Periodical

(a) Name

(b) Language

2. Date of filing the latest declaration

3. Proposed date of commencement of the publication

4. Average number of copies proposed to be printed,

(a) No. for sale

(b) No. for fre« distribution

5. Place of printing and particulars of the Press

(a) Particulars of the owner of the press

Name

Address

(b) Printing capacity:

Details of printing/composing Machine indicating the Make, model,

speed per hour and present life of the Machine

6. Whether bank guarantee has been executed in the specimen form of the Sche-

duled bank

7. If so, the name of the bank and value of the guarantee

8. Whether newsprint is to be lifted through agent

9. If so, the name of the agent

10. The term of lifting newsprint in instalments or in one lot, buffer sto;k/high

sea sales

11. Namo of the Editor

DECLARATION

I/We hereby declare that the above statements are true and correct to the bost of my/our kno fledge and brfief.

Place:

Signature

n fe.

Namo in Block letters

Designation

Residential address:

337

PROFORMA FOR BANK GUARANTEE

The Registrar of Newspapers for India,

(Ministry of Information & Broadcasting),

Vandhna Building (6th Floor),

11-Tolstoy Marg,

NEW DELHI—110001.

Dear Sirs,

Whereas M/s.

•

•—

—

——

—(hereinafter referred to as "Allottee") have applied to you for

import of the under-menu'oned quantity of newsprint for publication of the newspaper.

Name

—

•

•-• •

—Language—

•

Periodicity —

—

•

Place of publication

•-

Approx. Quantity

Approx. CIF price Rs.

And whereas as per conditions of the advance allocation for the propos 'd publication, Allotted is requirod to havo a Bank Guarantee

for 10",', of ihe approximate value of the newsprint quantity applied for.

Now in consideration of the above premises and at the request of the Allottee, we (Nane and address of the Bank) hereby condi-

tionally irrevocably guarantee and undertake that in the event of non-payment of sale price and/or any other default/failure on the part of

Allottee to observe all or any of the conditions prescribed/to be prescribed by you, we shall on your first demand pay to you, any sum

upto Rs,—

—~——without demur or without any reference to Allottee.

Your decision that there has been a default/failure on the part of the Allottee shall be final, conclusive and binding on us.

This guarantee shall not be affected by any forbearance Or indulgence of any kind shown by you to the Allottee and/or by any change

in the conditions prescribed by you and/or in the constitution of the same and/or the Allottee.

The guarantee is valid for a period of thr«e months from the date of issue and a claim under it must ba referred within six months

of the date of its expiry.

Yours faithfully,

SIGNATURE OF THE AUTHORISED BANK OFFICERS

ANNEXURE-IV

(Form for inttnutleii to RNI about n»w editions of exisdnt newspapers)

1. Name of the newspaper (proposed edition)

2. Its place of publication (give full address)

3. Language and periodicity

4. Proposed date of publication

5. (0 In case of daily, state number of days on which the newspapsr is propo-

sed to bs published in a week

(ii) In case of a weekly, state whether it is proposed to b; published every

week or four times a month

6. (a) Proposed size of the new edition.

(i) Length

cm.

(ii) Width

cm.

(Hi) No. of pages

(b) Average number of copies to b$ printed (Proposed) .

•

(i) through sale

•

(ii) through free distribution

(d) The circulation of the parent paper in the area to be served by the pro-

posed edition

7. Place »f printing and particulars of the Presa.

(a) Particular* of the owner of the Press:

Name

Address

33S

THE GAZETTE OF INDIA : EXTRAORDINARY

[pARr I—SEC. 1J

(b) Printing capacity

Details of printing/composing Machines indicating the make, model,

speed per hour and present life of the Machine

newly acquired

8, Give details of the newspaper or newspapers whose quota would be diverted

for starting the proposed new edition as also state the quantum

State whether the diversion of newsprint Is proposed to be done by reducing

the number of pages or by reducing the circulation of the parent newspapoKs)

ANNEXURE—V

Statement showing consumption of nowspiint for publication of newspapers for export promotion purpose during 1980

S.No.

Title of the paper, its language,

periodicity and place of publication

•

Glazed

Gms.

Consumption of newsprint (in tonnes)

Ungluzed

(imported)

Nepa

Total

Remarks

Signature of the Publisher

Name in block letters

Place

Date

CERTIFICATE OF THE CHARTERED ACCOUNTANT

I/We have examined the books and account of

(Name of the paper, language and periodicity)

published from (Address)

for the year 1980 and have obtained all the information and explanations required by us. In my/our opinion, the statement set tbith above

reflects true and correct analysis of circulation, pages, size and number of publishing days for the year 1930 to the bsst of my/our information

and belief and according to the explanation given to me/us by the books of account etc.

Date

Signature

Stamp of the Chartered Accountant

1. Name and signature of the person who has signed the certificates

2. Registration No.

3. Address

ANNEXURE—VI

FORM—I

Application!) form for allotment of newsprint for newspapers/periodicals

PART—I

1. Name of theapplicart

2. Name of the newspaper/periodicals

3. Full postal address

4. (a) Date from which newspaper/periodical is legularly published

(b) Registration Number a5 given by Registrar of Newspapers for India ,

339

a. .Nature or concern i.e. puDiic/private/propnetnrsliip etc. and names ot Direc-

tors/Partners etc,

6, Quantity /Value of newsprint required for 12 months

7. (a) Phased delivery requirement

(b) Name of the agent authorised

S, Namj and other particulars of newspapers/peJodicals owned by the appli-

cant:

Title of the paper

Language & Periodicity

Plice of publication

Whether (jetting newsprint through Govt.

9. Particulars of circulation etc. per publishing day for the new newspapers/

periodicals:

(a) Date of ihe pi oposed publication

(b) Average No. of copies proposed to be printed

(d) Average area of one page of newspapers/periodicals (in sq. cms.)

(e) No. of publishing days

10. Particulars of newsprint (specify Glazed/Unglared/Nepa separately)

Item No.

Qty. in mts.

Source

Value (C1F in Rs.)

~ '—

Consumed uurmg jyou-oi

Required for the year 1981-82

11. Last licensing year in which newsprint was taken from the Office of RN1.

12. (a) Type of Machine (i.e. Rotary/FIalbed/Letter Press)

(b) Size of reels/sheets required

DECLARATION

J/We hereby declare that the above statements are true and correct to best of my/our knowledge and beJief. I/We full} understand

that any allotment made to me/us on the basis of the statement furnished is liable to cancellation, in addition of any other penalty that

the Govt, may impose or any other action that may be taken having regard to the circumstances of the case if it is found that any of the

statements of facts therein are incorrect or false.

2. I/We declare that the newsprint, if allotted will be used in our press/premises/establishments at the above mentioned address,

3. I/We also fully understand that the allocation of canalised item(s) through the canalising agency is made under the Import Trade

Control Regulations and violation of the condition on which such goods are released to use of any misuse of such goods will attract

the provisions of Imports and Exports (Control) Act, 1947, as amended and Orders issued thereunder.

4. i/We have noted the relevant provisions contained in the Import Policy/Hand Book of Import Export Procedures, 1980-81

Signature —•————-—.

—

_—„__

w^_

Name in Block letters—

— _ — —

_ _

Designation ———.__-—.

.—.—„

_ ^ _ . _ _ _

Dated I

Residential Address

— - — — _ — . — — — — . _ _ _

340

THE GAZETTE OF INDIA : EXTRAORDINARY

[PART I—SEC. 1]

PART-II

Income-tax Declaration

(a) In case of persons not having taxable Income.

I/We hereby solemnly declare that I/We aro not liable to pay any Incoms-tax including advance tax as the Income earned by me/us

during the current accountirg year and last four accounting years has been below the maximum limit not chargeable to tax.

(b) In case of persons having taxable Income.

I/We hereby solemnly declare that:

1. I/We have furnished to the lnreme-tsx Department the return(s) of income due from me/us till date.

2. I/We have paid all taxes including advance tax due from me/us under the Income-Tax Act other than th; tax demand which has

been stayed by the Competent Authority.

3. T/We have not been penalised "/convicted for concealment of income/wealth during the last three cnlendai years

I/We hereby solemnly declare that the above declaration also applied in the case of Companies in which I/We am/are having

substantial inteiest " o r the firms or associations of persons in which I/We ^m/arc Partners or members respectively.

The above declaration is applicable in case of persons having substantial interest ** in the applicant Company or members of the

applicant association or partner of the applicant firm.

k ~\n

-4-rt

_ ,

, _ _

•

f l i ' l ' l ' A D C

^ _ j

•

_ .

4 - J t l l C

—

- ^ - » k i

•

—

•

—

J~Wl\Xl

C 3 8

•

—

•

—

Designation jf the ITO with whom assessed

^ _ . ^ _ — . —

Assessable

— — - —

- •

* If an appeal has been filed against the levy of penalty and the appeal is pending before the Appellate Assistant Commissioner of Income

Tax Appellate Tribunal, such penalty need not be taken note for the purpose of this declaration.

*• The words "substantial interest" shall have thesams meaning as in the explanation to Section 40(A)(2) of thalncometax Act, 1961,

PRINTED BY THE MANAGER, GOVT. OF INpU PRESS, RTNO ROAD, NEW DELHI-110064

AND PUBLISHED BY THE CONTROLLER OF PUBLICATIONS, DELHI-110054, 1981