News Update

SARFAESI Act - Award of interest on auction money at rate applicable to fixed deposits is not a correct view and rate of interest deserves to be enhanced: SC (See 'TIOLCorplaws')ST - Chit Funds - Tax was not paid under mistake of law but upon demand by tax authorities - Refund not having been filed within time was rightly rejected: HCGST - Without considering the reply on merits, proper officer, without applying his mind has held that the reply is filed is unsatisfactory and, therefore, he is left with no alternative but to create demand - Order set aside and matter remitted: HCGST - Cancellation of registration retrospectively - Show Cause Notice and the impugned order are bereft of any details, accordingly the same cannot be sustained: HCGST - Registration could not have been cancelled retrospectively for the period for which returns were filed and taxpayer was compliant: HCGST - Notfn 11/2017-CTR amended by 03/2022-CTR - Work contracts executed before 18 July 2022 - Petitioners should file refund claims before respondent authorities agitating their grievance and the same be examined and orders passed within four months: HCItaly imposes USD 10 mn fine on Amazon for unfair business practicesGST - Entire tax liability has been realised by appropriating the amount from the petitioner's bank account, therefore, Revenue interest stands fully secured - Since tax proposal was confirmed without participation of petitioner, order set aside and matter remanded: HCCaste Census is my mission, says RahulRight to Sleep - A Legal lullabyUS warns Pak of punitive sanctions against trade deal with IranI-T- Income surrendered before approaching Settlement Commission not covered u/s 115BBE, where this provision did not exist during relevant AYs: HCChinese companies decry anti-subsidy probe by EUI-T- Entire interest expenditure is allowable as deduction if loan funds is not diverted for non-income earning activities/personal purposes : ITATUK’s key water supplier, Thames Water, slips into financial quagmireI-T- Sale consideration cannot be considered as unexplained cash credit if sale takes place in online platform and sale consideration is received through stock broker in banking channels : ITATUK to send military aid package worth USD 619 mn to UkraineI-T- Section 69C includes expenditures reflected in account books, as well as those discovered during Search & Seizure for which no valid explanation is forthcoming from assessee: ITATUS regulator bans non-compete agreements by employeesI-T- Penalty imposed u/s 273B upheld where assessee unable to provide just cause for failure to file audit report within prescribed due date as per Section 44AB: ITATPalestinian PM unveils new reform packageI-T- Assessee cannot contest validity of penalty notice on grounds of irrelevant provision not being struck off, by highlighting such defect for the first time before ITAT itself: ITATAir India, Nippon Airways join hands for travel between India and JapanGovt receives 7 bids for giga-scale Advanced Chemistry Cell under PLI10 killed as two Malaysian Military copters crashI-T- Lower authorities erred in disallowing long term capital loss : ITATSC grills Baba Ramdev & Balkrishna in misleading ad case1351 candidates to contest in phase 3 of LS ElectionsI-T- Revisionary order u/s 263 invalidated where passed in ignorance of repeated factual submissions to prove that original assessment order is not erroneous or prejudicial to revenue's interests: ITATIndian Coast Guard, Oman Coast Guard to jointly combat transnational illegal activities at seaST - Department cannot retain any amount which is otherwise not payable by the Assessee; nothing acts as embargo on assessee's right to demand refund of tax paid under misaken notion: CESTATAFMS, ICMR join hands to undertake biomedical research for Armed ForcesCus - If noticee seeks Cross Examination of such persons, same should be granted, appellant will produce all documentary evidence before Adjudicating Authority in support of their claim that seized gold is part of their normally procured gold in course of their commercial transactions: CESTAT
 
Indian women scientists praised; Govt policy for all support: Minister

By TIOL News Service

CHENNAI, OCT 16, 2017: The Union Minister of Science & Technology Dr. Harsh Vardhan inaugurated Women Bio-tech Incubator at Golden Jubilee Biotech Park for Women Society during IISF, 2017 in Chennai today in the presence of Prof. M. S. Swaminathan, Founder Chairman, Women Biotech Park,  and State Minister of Industry, Government of Tamilnadu, Mr M C Sampath.

Dr. Harsh Vardhan delivered the Conclave Address during the Women Scientist and Entrepreneurs Conclave at IISF 2017. He said that globally there has been a special focus on addressing the issues related to Women in Science and framing policies which support the same. India has laid special emphasis on empowerment of women.
 
In the field of Science and Technology and Entrepreneurship, Indian women have had a major presence over the last 100 years. The first women to receive a medical doctorate degree was  Anandibai Joshee in 1885, the first Indian women Doctorate in Basic Science was Janaki Ammal in 1931 and India’s first woman to get a doctorate of science from an Indian university was Asima Chatterjee in 1944. These dynamic women have laid a very strong foundation for women in science in India. In the last few years, there has been a special focus on “Women Empowerment by the Government. The DST and DBT have special schemes to attract women scientists and to provide employment opportunities to the unemployed women scientists. Women Entrepreneurship is a very important activity that has been growing rapidly in last few years. “Start up India” and “Stand up India” announced by Hon’ble Prime Minister are initiatives which offer tremendous opportunities to the women entrepreneurs.
 
Biotech Park is a good example of a Centre and State Government Partnership. The Minister expressed his confidence that with the support of the State Government it will drive many important initiatives under Start up India and Make in India. A large number of Innovation schemes of the S&T Ministry being operated by DST and DBT and initiatives taken by BIRAC have today created a vibrant innovation ecosystem.  More than 1000 Start ups and nearly 200 Women Entrepreneurs have been supported. The Atal Innovation Mission also aims to promote the innovation ecosystem.
 
The Minister was pleased to know the excellent participation in Women Scientists and Entrepreneurs Conclave. He informed that the Ministry of S& lays special emphasis on North East and has a special program and will be happy to set up a Women Bio-Incubator at North East.


POST YOUR COMMENTS
   

TIOL Tube Latest

Shri N K Singh, recipient of TIOL FISCAL HERITAGE AWARD 2023, delivering his acceptance speech at Fiscal Awards event held on April 6, 2024 at Taj Mahal Hotel, New Delhi.


Shri Ram Nath Kovind, Hon'ble 14th President of India, addressing the gathering at TIOL Special Awards event.