foreign country; or (v) is the holder of a credit card, not being an "add-on" card, issued by any bank or institution ... which he is a beneficiary, his bank account and credit card held by him, expenditure exceeding the prescribed limits incurred by him under prescribed heads
member of his household, which is charged to a credit card (including any add-on-card) provided by the employer, or otherwise, paid
purposes of this clause, payment system includes the systems enabling credit card operations, debit card operations, smart card operations, money transfer operations or similar operations
hereby clarified that a “coin” does not include the credit card, debit card, postal order and e-money issued by any bank, post office
petition, in due deference to the
said precedent.
Four cases of credit card frauds
3. The first captioned matter relates to FIR no.47/2003 ... instances having come forth in
which domestic as well as international credit cards had been
counterfeited, by skimming technique which involves copying of
electronic data
money orders, cheques, drafts, travellers cheques, letters of credit, bills of exchange and promissory notes, credit cards or such other similar instruments ... with foreign trade, other current business, services, and short-term banking and credit facilities in the ordinary course of business, (ii) payments due as interest
derived from change in interest rate, foreign exchange rate, credit rating or credit index, price of securities (also called "underlying"), or any other underlying ... purposes of this clause `'payment system" includes the systems enabling credit card operations, debit card operations, smart card operations, money transfer operations or similar operations
transfer by the assessee- company's business of entire credit card operations to City bank NA during the previous year relevant to the assessment ... Current Card Members as holding Active Cards, Less Active Cards, Least Active Cards or Delinquent Cards. In respect of New card Members, their classification
words ", value and belonging to him, his bank account and credit card held by him" shall be substituted
agrees to accept payment by use of the card from anyone holding the card and the credit company agrees to pay to the supplier ... means of tracing the purchaser save through the credit company.
(F) In the circumstances, credit cards have come to be regarded as substitutes for cash
