News Update

Wrong RoadST - Whether any service is used for personal consumption or not is certainly question of fact and being question of fact, no substantial question of law arises: HCGovt proposes to amend Geographical Indication of Goods Rules; Draft issued for feedbackST - If what has been paid as tax is without authority of law, Revenue should refund the same - Denial of credit would result in the whole exercise being tax neutral: HCWarehousing Authority notifies several agri goods to be stored in only registered warehousesST - Even if the petitioner may have a case on merits, it is best left to be decided by the Appellate Authority under the hierarchy prescribed under the FA, 1994: HCUS FDA okays Eli Lilly Alzheimer’s drugGST - Petitioner challenges jurisdiction of assessing officer - Petitioner is entitled to file an appeal u/s 107 by availing an alternate efficacious remedy: HCFive from Telangana killed in car accident on Pune-Solapur HighwayGST - Existence of an alternative remedy is a material consideration but not a bar to the exercise of jurisdiction: HCHush money case against Donald Trump - Sentencing deferred to Sept 18GST - It is open to a trader to take goods by whichever route he opts, unless the law otherwise requires, destination point being intact: HCDeadly hurricane Beryl smashes properties in JamaicaGST - Conclusion that taxable person is providing a service to supplier while taking the benefit of a discount by facilitating an increase in the volume of sales of such supplier is ex facie erroneous and contrary to the fundamental tenets of GST law: HCIsrael claims 900 militants killed in Rafah since May monthGST - Order expressly records that personal hearing notice was returned with endorsement 'no such person at address' - Since petitioner has shifted to a new premises, it is just and necessary to provide an opportunity to contest demand: HC116 die in stampede at UP ’Satsang’I-T- Application for revision of order dismissed in limine on grounds of delay; case remanded for re-consideration: HCWe are deepening economic ties with India, says US officialI-T- As per Section 119(2)(b), power to condone applications relate to claims for amount exceeding Rs 50 lakhs are to be considered by CBDT; however it is impermissible for CBDT to pass order on merits: HC8 Dutch engineers build world’s longest bicycle - 180 feet, 11 inchesI-T- Additions framed u/s 68 for unexplained income & u/s 69 for unexplained expenditure not tenable where complete transactional details are furnished & not doubted: HCRailways earns Rs 14798 Crore from Freight loading in June monthI-T- Delay in filing ITR is per se insufficient reason to estimate assessee's profit @15% on turnover, more so where audited financial report is filed in timely manner: ITATMoD inks MoU to set up testing facilities in Unmanned Aerial System in TN Defence Industrial CorridorI-T- For invoking section 69A, assessee should be found to be owner of any money, bullion, jewellery or other valuable article & which is not recorded in the books of account: ITATGovt proposes Guidelines for ethical approach to Coal MiningI-T- TDS credit can be allowed based on AIS, where details pertaining to TDS, advance tax & other payments are reflected in Form 26AS: ITATVaishnaw to inaugurate Global IndiaAI Summit 2024I-T- Lending money with the primary intention of earning interest can be considered a business activity, but nature and manner of lending, as well as the frequency, should be taken into account: ITAT
 
MoD inks MoU to set up testing facilities in Unmanned Aerial System in TN Defence Industrial Corridor

 

By TIOL News Service

NEW DELHI, JULY 03, 2024: MINISTRY of Defence (MoD) has signed an MoU to establish three state-of-the-art testing facilities in Chennai under the Tamil Nadu Defence Industrial Corridor - one each in Unmanned Aerial System (UAS), Electronic Warfare (EW) and Electro Optics (EO) domains. The MoU, under the Defence Testing Infrastructure Scheme (DTIS), was exchanged between senior officials of MoD and Tamil Nadu Industrial Development Corporation Limited in the presence of Defence Secretary Shri Giridhar Aramane in New Delhi on July 02, 2024.

With an outlay of Rs 400 crore, the DTIS was launched by Raksha Mantri Shri Rajnath Singh in May 2020 to set up state-of-the-art testing facilities in collaboration with private industry and Central/State Government, promoting indigenous defence production, reducing military equipment imports and enhancing self-reliance. To provide impetus to the defence and aerospace sectors within the Defence Industrial Corridors, seven testing facilities were approved - four in Tamil Nadu and three in Uttar Pradesh. The MoU for three facilities in Tamil Nadu has been signed today.

The DTIS provides up to 75% government funding as ‘Grant-in-Aid', with the remaining 25% funded by the Special Purpose Vehicle (SPVs), comprising Indian private entities and State/Central Governments.

For the UAS testing facility, Keltron, a government of Kerala undertaking, is the lead SPV member, with some private sector companies being the consortium members. Bharat Electronics Limited (BEL) and India Optel Limited (IOL) are the lead SPV members in the EW and EO testing facilities respectively.

Upon the completion of the project, they will provide advanced testing equipment and services to both government and private industry, thus giving a boost to ‘Aatmanirbharta' in defence.


POST YOUR COMMENTS
   

TIOL Tube Latest

India's Path to Becoming a Superpower: An Interview with Pratap Singh



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