News Update

GST - Bench is unaware of educational qualifications of Commissioner or his expertise in chemical science - Instead of discrediting report of ICT, a counter expert opinion ought to have been obtained: HCGST - Observations by Commissioner in order passed u/r 159(5) are not structured on any referable scientific basis - Order for freezing of bank accounts lifted - matter deserves de novo consideration: HCCompanies Act - Mere delay in relieving Employee from duty does not impact acceptance of his resignation: SC (See 'Legal Desk' in TIOLCorplaws.com)Cus - Without a 'cause of action', the 'right of action' is meaningless - There being no real threat of infringement of any of its rights, the petitioner does not have the 'cause of action': HCWinds of change - GST law is no exceptionCus - Law is well settled that writ petitions challenging SCNs ought not to be entertained for the mere asking and as a matter of routine: HCGovt eyeing USD one trillion from exports of goods & services: GoyalGST - Principles of natural justice are to be read into Rule 86A although no such procedure is provided thereunder: HCGovt readies Borrowing Plan for H2 of FY 2021-22GST - Without recording any reason, the invocation of power u/r 86A should be held to be unauthorised, illegal and without jurisdiction: HCUrban SHGs can now avail Rs 40 K Seed Capital through PortalCus - During the complete lockdown period, an extension should have been given by the respondents to the petitioner to properly respond to the SCN - Order set aside and matter remanded: HCIIPA needs to have futuristic vision for next 25 years: MoSST - Once there is no apparent mala fide on the part of appellant, fastening the allegations as that of concealment, fraud and suppression are held to be highly unjustified: CESTATDGTR recommends anti-dumping duty on Gypsum powder or plaster + Hydrofluorocarbon blends + CaprolactamI-T - U/s 260A(1), appeal lies to HC against ITAT's decision only on substantial questions of law, meaning the question of law must be debatable, not previously settled : HCGovt notifies PLI Scheme for TextilesI-T - Power of revision u/s 263 is to be exercised only when both conditions of the assessment order being erroneous as well as prejudicial to Revenue's interests, are satisfied: ITATCOVID-19: Daily caseload plummets below 15000 in India but shoots up in US to 78K and 38 K in UK + Global daily count nosedives to 3.66 lakhI-T - Full value of consideration, recorded in books of accounts, adopted as per Section 45(3) cannot be substituted with market value of property as per section 50C : ITATGovt to create Land Monetisation Corp for CPSEs land assetsI-T - Deduction merits being allowed u/s 24(b) in respect of interest on Home Loan, where property for which such loan was taken, has not yet been acquired: ITATImpact of Cyclone Gulab - Heavy rains triggering waterlogging at many places in VizagI-T - Assessee's appeals merit being dismissed for non-prosecution where the assessee files no written submissions or submits no evidence to justify its case: ITATElectricity shortages turn acute in China; Factories including of Tesla and Apple, face frequent outagesI-T - Additions framed consequent to search operation, are sustainable where based solely on third party entries recovered from flash drive : ITATUS Dy Secretary of State Wendy Sherman to be in India next month for bilateral talksI-T - Additions framed u/s 68, solely on basis of conjectures or surmises, cannot be sustained: ITATSouth Korea mulling ban on dog meat consumption - 10 lakhs dogs slaughtered annuallyFord going for USD 11 billion electric truck investment in Kentucky & TennesseeKerala HC quashes State ban order; rules online rummy is a game of skill24 Naxals lay down arms in Sukma, Chattisgarh
 
AI is creating new opportunities in economy: Experts

By TIOL News Service

NEW DELHI, AUG 02, 2021: EXPERTS highlighted that Artificial Intelligence (AI) is creating new opportunities which could not be achieved by traditional technology and could be used for health care as well as many other present and future challenges in various sectors, at a discourse series recently.

"AI would not replace people but create new opportunities in various fields. It works on data, and if we could train our machines, it could do wonders for us in milliseconds by automating processes. It can be used for diagnostic purposes for various diseases, including COVID-19, and could prove very effective in remote areas where adequate health facilities are not available. Key to success in using AI for various problems is to reach out to maximum people," said Secretary, Department of Science & Technology (DST) Prof Ashutosh Sharma at the online DST Azadi Ka Amrit Mahotsav Discourse Series New India @ 75, organised by National Council for Science & Technology Communication and Vigyan Prasar.

He spoke about how DST progressed over the last years, seeding foundational technologies, and have launched several schemes to tackle the challenges that are coming at faster speed with science, technology, and innovation-based solutions. "The emergence of disruptive and impactful technologies poses new challenges and simultaneously greater opportunities. DST is a nursery to help, nurture and grow young talents for the progress and development of the country," he added.

Anna Roy, Senior Advisor, NITI Aayog, pointed out that AI can be used effectively for various challenges of the country.

"India has a number of challenges, but at the same time, we also have the advantage of being a data-rich country that has a lot of IT professionals, educationalists, and a demographic dividend. All this could prove a boon for us if we could use these for the progress and development of the country", Anna Roy said.   

She highlighted the role NITI Aayog is playing in identifying various problems of the country and suggesting the future roadmap for India. "NITI Aayog as the leading think tank for the government and country is creating policies for widening science and technology ecosystem and to take industry and academia along for progress and development of the country in every sector," she emphasised.


POST YOUR COMMENTS