News Update

Israel-Iran War: A close shave for Global Economy but for how long?I-T - If income from stock-in-trade are held as investments, then provisions of section 14A would apply to such income: ITATTRAI recommends on Infra Sharing, Spectrum Sharing & Spectrum LeasingI-T- Revisionary powers u/s 263 can't be exercised when AO has neither assumed facts incorrectly nor there is incorrect application of law : ITATTechnology Board okays funding of Dhruva Space's Solar Array ProjectI-T- Issue of interest is debatable issue on which two views are possible and AO accepted one of views for which PCIT cannot assume revisional jurisdiction: ITATHealth Secy visits Bilthoven Biologicals, discusses production of Polio VaccineI-T - Estimation of profit element from purchases should be done reasonably if assessee could not conclusively prove that purchases made are from parties as claimed, in absence of confirmations from them: ITATStudy finds Coca-Cola accounts for 11% of branded plastic pollution worldwideI-T- Triplex flats purchased are interconnected and can be considered as 'a residential unit'' as per definition of section 54F of Act : ITATDelhi HC says conspiracy against PM is a crime against StateI-T- AO omitted to probe issue of cash payments made over specified limit; revisionary power u/s 263 is rightly exercised: ITATBrazil makes new rules to streamline consumption taxesI-T-Power of revision unnecessarily exercised where AO had no scope to examine creditworthiness & genuineness of assessee's creditors: ITATBiden signs rules mandating airlines to give automatic refunds for delayed or cancelled flightsI-T-As per settled law, in absence of enabling powers, no disallowance can be made : ITATBYD trying to redefine luxury for new EV variantsGST - On the one hand, the order states registration is liable to be cancelled retrospectively and on the other hand mentions that there are no dues - Order modified: HCIsrael finally moving ahead with Rafah OperationsGST - Registration cancelled retrospectively on ground that physical verification revealed that the firm was non-existent - Petitioner had informed that they shifted business and had sought cancellation of registration - Order cancelling registration modified: HCNorway oil major boss says Europeans are not hard-working as compared to AmericansGST - Since registration was cancelled, petitioner could not access portal and view the SCNs and file replies - Order set aside and matter remitted: HCJio turns world’s top telco in terms of data trafficGST - Reply filed is a detailed one and if the proper officer was of the view that the same was unsatisfactory, he should have specifically sought further details - Matter is remitted: HCGadkari faints during campaign; Heat takes toll on his healthGST - SCN does not put petitioner to notice that the registration is liable to be cancelled retrospectively - Order set aside and registration restored: HCSC asks EC to submit more info on reliability of EVMsGST - Non-application of mind - Proper officer has merely observed that the reply filed is unclear and unsatisfactory and, therefore, the demand is confirmed - Matter remitted for re-adjudication: HCItaly imposes USD 10 mn fine on Amazon for unfair business practicesCommercial Tax - Judgment of High Court is in jeopardy once appeal is entertained by Supreme Court - Appeals shall remain pending before the Appellate Board, Bench at Indore, till the issue is decided by Apex Court: HCUS warns Pak of punitive sanctions against trade deal with IranST - As the job-work undertaken by appellant amounts to manufacture, service tax cannot be levied on them under both Heads 'Business Auxiliary Service' and 'Business Support Service': CESTATRight to Sleep - A Legal lullabyCX - Existence of corroborative evidence is essential in order to establish clandestine removal of goods and same cannot be merely based on assumptions and presumptions: CESTAT
 
Gadkari calls for unified efforts to develop indigenous fuel cells for e-vehicles

By TIOL News Service

NEW DELHI, FEB 11, 2021:THE Union Minister for Road Transport, Highways and MSMEs, Mr Nitin Gadkari, has called for adopting an integrated approach for developing indigenous fuel cells in the field of electric vehicles. He said, India today stands at the cusp of becoming a world leader in this field. The Minister urged scientists, academia and industry to harness hydrogen-based energy, it being a cost effective and easily available mode in the country. He indicated towards the lowering costs of solar power in India, which can help energise other modes of fuels.

Union Minister for Road Transport, Highways and MSMEs Mr Nitin Gadkari addressing the meeting on developing indigenous fuel cells in the field of electric vehicles in New Delhi on 10.02.2021.

Chairing a meeting of govt agencies and representatives from research institutions here last evening, he informed that with nearly 81 per cent of Li-ion battery components available locally, India stands a very good chance for value addition at lower costs, and resultant employment generation at large scales. Reacting to the presentations made for different technologies including Li-ion, metal-ion, Sodium Sulphur, Hydrogen, Iron Sulphur, Polymer Electrolyte Membrane Cell System, ZincGel, etc, Mr Gadkari said, economic viability is the basis of any successful technology.

Participants at a meeting on developing indigenous fuel cells in the field of electric vehicles in New Delhi on 10.02.2021.

The Minister said, there is vast scope in the area of Lithium-ion battery too despite countries like China dominating in the sector. He said, India's mining entities could look for acquiring component assets globally and grab the opportunity as there is still 49 per cent scope in this field. Mr Gadkari indicated towards the growing pace of automobile industry which has a turnover of Rs 4.5 lakh crore at present, and is set to reach Rs 10 lakh crore very soon. He also said that initially one crore vehicles will go for scrapping under the new vehicle scrapping policy, which will result in availability of cheaper aluminium, copper, rubber, steel and other products. He said, these will have the potential to reduce the price of battery components.

The Minister suggested to take ahead the suggestions brought forth in the meeting by integrating industry experience in the field. He assured the participants of his complete commitment in adopting best technologies. He said, next generation batteries will not only minimise vehicular pollution in India but make India a global supplier of EVs.

NITI Ayog CEO Mr Amitabh Kant stressed upon concentrating on lithium-ion alternative batteries and supported the idea of mining companies exploring opportunities abroad for acquiring assets in this regard. He said, NITI Ayog has collaborated with four IITs including Guwahati and Delhi for research in aluminium-ion batteries.

The meeting was attended by MoS-RTH Gen (Retd) Dr VK Singh, Prime Minister's Principal Scientific Advisor Mr K Vijay Raghavan, Niti Aayog CEO Mr Amitabh Kant, Secretary RTH Mr Giridhar Aramane and senior representatives from DRDO, ISRO, CSIR and IITs.


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.