SIGN IN SUBSCRIBE

News Update

Chinese economy spikes by 5.3% in first quarterUPSC releases results of Civil Services 2023; Aditya Srivastava tops the listIndia’s exports marginally dips into minus in March monthDiversion of goods imported under Advance Licence to Open Market: Mens rea upheldSeasonal rainfall likely to be 106 % of Long Period Average: IMDWorkshop held for Eco-friendly Measures for Holistic National Highway DevelopmentI-T- Mere existence of power to assess or reassess six AYs' immediately preceding AY corresponding to year of search or 'relevant assessment year' would not justify invocation of Section 153C - HCWhat was Biden’s income in 2023? - ITR shows USD 6.2 lakhI-T - Act & Rules thereto provide a method for service of notices & orders; communication of notices before any action is taken, is mandatory: HCMumbai Police nabs two shooters involved at random firing at Salman’s houseI-T- Assessee cannot be expected to be logged in to I-T portal at all times, so as to be notified of actions taken by Department: HCIRS fears spurt in crypto tax evasion casesI-T - Expenses written off is only allowable if assessee offers said amount as income in previous years: HCBreast cancer to kill over 10 lakh women by 2040: Lancet ReportI-T- Deduction u/s 35(1)(ii) in respect of donation made to scientific research institute, is rightly denied, where no evidence is furnished to show valid approval was taken from prescribed authority for taking donation: ITATChina’s bubble tea stirs global buzzI-T- Penalty imposed u/s 271(1)(c) merits being quashed where exact charge between concealment of facts and furnishing inaccurate particulars of income, are not specified : ITATSamsung gets USD 6.4 bn in subsidy for Texas chip productionI-T- Penalty is unwarranted where the complete factual data pertaining to Assessee's claim was also available before AO during the course of assessment : ITATIndia to resume FTA talks with EU next monthI-T- Assessee has not involved in manipulation of stock prices for purpose of earning bogus LTCG : ITATPM says he has big plans for countryTCS to hire 25K freshers in 2025GST - Retrospective cancellation of registration - Complete non-application of mind - Order refers to a reply filed whereas fact is that the proprietor had passed away and no reply had been filed: HCElection Commission seizes over Rs 4600 Cr cash - highest for LS pollsGST - Proper officer has not applied his mind but dismissed the reply submitted as not satisfactory - Order set aside and matter remitted: HCIMD says it is likely to be above-normal Monsoon for IndiaProtesters demanding restoration of monarchy and Hindu State lathicharged in Kathmandu
 
Cabinet enhances financial powers of Army's senior officers for capital procurement

By TIOL News Service

NEW DELHI, FEB 18, 2021: THE Cabinet on Wednesday approved the enhanced delegation of financial powers for capital procurement of up to Rs. 200 crore to officers below vice-chief of Armed Forces level.

According to an official statement, the Cabinet has granted decision-making of capital purchases of up to Rs.100 crore to General Officer Commanding-in-Chief, Flag Officer Commanding-in-Chief, Air Officer Commanding-in-Chief at Services Command and Regional Commanders, and Indian Coast Guard.

Further, financial powers up to Rs. 200 crore has been delegated to Deputy Chief of Army Staff, Master General Sustenance, Chief of Material, Air Officer Maintenance, Deputy Chief Integrated Defence Staff and Additional Director General of Indian Coast Guard.

These enhanced powers will apply for procurements under the Other Capital Procurement Procedure (OCPP) category of Defence Acquisition Procedure-2020 (DAP 2020).

"This delegation of powers within service headquarters and up to command Level for items of capital nature such as overhauls, refits, upgrades etc. will enhance the utility of existing assets and will facilitate faster processing and implementation of projects for modernisation of armed forces to meet the security challenges of the nation," said the Defence Ministry.

The Cabinet has also approved enhanced financial powers in the Make-I category under which the government funds up to 70 per cent of the prototype development cost.

The Chief of Integrated Defence Staff to the Chairman Chiefs of Staff Committee, Vice Chief of Army Staff, Vice Chief of Naval Staff, Deputy Chief of Air Staff, and Director General Coast Guard have now been given powers to sanction government support up to Rs.50 crore towards cost of prototype development.

Financial powers have also been enhanced for other competent financial authorities under ‘Make-I' in line with government's vision of Aatmanirbhar Bharat and Make in India for a robust defence industrial ecosystem.


POST YOUR COMMENTS
   

TIOL Tube Latest

TIOL Tube
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.

TOP NEWS

AR not Afar by SK Rahman

VISION 360





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

TII LATEST

TIOLCORPLAWS LATEST