News Update

If 'Tariff Man' is serious, World needs to lace up for economic chaos all-around!Canada cracks down on TikTok; orders shutdown of businessI-T-Additions framed warrant being set aside, where Departmental authorities omitted to verify genuineness of creditors, despite evidence being available : ITATNo social media for children below 16 in AustraliaI-T- Assessment order passed in name of a non-existent company which ceases to exist on account of its amalgamation, is rendered void: ITATChina extends support for political transition in MyanmarI-T- As per settled position in law, loans cannot be deemed dividends if the recipient is not a shareholder; employee contributions must be paid on time as per the relevant statutes to qualify for deductions: ITATBeijing arrests AstraZeneca’s boss in ChinaI-T - Assessee is not barred from claiming deduction u/s 80G in respect of donations made to approved institutions even though same is made in discharge of CSR obligation u/s 135 of Companies Act: ITATGerman coalition govt collapses; Chancellor Olaf Scholz fires FM; calls for confidence voteI-T-Disallowance of certain expenses is unwarranted where AO does not doubt genuineness of such expenditures or claims: ITATBiden rushes military aid to Ukraine as Trump is comingI-T- As is trite law, I-T authorities should charge only legitimate taxes, which are liable to be paid; assessees must not be punished for bona fide errors: ITATHurricane Rafael smashes Cuba; Power Grid gives inEC makes seizures of mounds of cash; 3 times more than 2019, in Maharashtra & JharkhandAstronomers detect two Black Holes; Unusual behaviour upsets conventional theoriesST - Burden of proving fraudulent intent lies with the Department, especially when relevant facts are already known to them - penalty u/s 77 & 78 not imposable where assessee is compliant, regularly files returns & cooperates with audits, which suggests no intent to evade tax: CESTATRamaswamy says America deserves a ‘badass Commander-in-Chief’ right now & that’s what it gotIndia, ADB sign USD 200 mn loan to upgrade water supply & sanitation in UttarakhandRiyadh to host WIPO talkfest to conclude Design Law TreatyST - Mobilization advances are not chargeable to Service Tax if treated as advances - Tax paid on mobilization advances is ineligible for Cenvat credit, as these services are not eligible input services: CESTATJapan launches world’s first wooden satelliteDepartment of Revenue achieves 100% target during Special Campaign 4.0CX - Refund under Excise law governed by Section 11B of CEA 1944; right to claim refund is extinguished if not claimed within prescribed time period: CESTATC-DOT, IIT Roorkee sign pact for development of Transceiver for 5G Rural ConnectivityCX - Late invoice receipt issues are subject matter between assessee & the service provider, independent of tax authority involvement; cannot justify claiming refund beyond prescribed time period: CESTATIndia-US Military Cooperation Group meets in New DelhiCus - As is trite law, refund of Special Additional Duty paid by assessee should not be denied on grounds of technicalities, or delays: CESTAT
 
India, ADB sign USD 200 mn loan to upgrade water supply & sanitation in Uttarakhand

By TIOL News Service

NEW DELHI, NOV 07, 2024: THE Government of India and the Asian Development Bank (ADB) yesterday signed a USD200 million loan to help upgrade water supply, sanitation, urban mobility, and other urban services in the state of Uttarakhand.

The signatories to the loan agreement for the Uttarakhand Livability Improvement Project were Juhi Mukherjee, Joint Secretary, Department of Economic Affairs, Ministry of Finance, for the Government of India, and Mio Oka, Country Director of India Resident Mission, for ADB.

Mukherjee stated that the project aligns with the Government of India's urban development agenda as well as the Government of Uttarakhand's initiatives to enhance urban services, aiming to boost livability and sustainability in cities.

"The project aims to create urban infrastructure that is resilient to climate and environmental risks such as floods and landslides, ensuring the safety and health of Uttarakhand's population," said Mio. "It will also build the capacity of the state agencies in project management, climate-and disaster-resilient planning, own-source revenue generation, and gender mainstreaming."

The project will enhance transportation, urban mobility, drainage, flood management, and overall public services in Haldwani, the economic hub of the state. Additionally, it will improve water supply delivery in four cities - Champawat, Kichha, Kotdwar, and Vikasnagar - by developing efficient and climate-resilient water supply systems.

In Haldwani, the project will develop 16 km of climate-resilient roads, establish an intelligent traffic management system, deploy compressed natural gas buses, and pilot electric buses. To prepare the city against disasters, the project will construct 36 km of stormwater and roadside drains to improve flood management and implement an early warning system. A green-certified administrative complex and bus terminal will be built to improve the delivery of public services.

In the other four cities, the project aims to increase water service coverage to 100% by constructing 1,024 km of climate-resilient pipelines with smart water meters, 26 tubewells, new reservoirs, and a 3.5 million-litre-per-day water treatment plant. Sanitation coverage in Vikasnagar will be improved by sewage treatment facilities that will benefit around 2,000 households.

The project will introduce initiatives for women, such as livelihood skills training on driving buses, bus ticketing, and the operation of electric charging stations. Given women's role in monitoring water supply systems, the project will build the capacity of women, including those from vulnerable households, in operating and managing water supply and sanitation services.

The European Investment Bank is cofinancing the project with USD191 million on a parallel basis.


POST YOUR COMMENTS
   

TIOL Tube Latest

Conferment of TIOL Awards 2024. The event was held on October 1, 2024 at Taj Palace, New Delhi



Technical Session I - Ease of Doing Business: GST on Digital Economy