News Update

CX - SC rules coconut oil in small packages to be classified as ‘edible oil’SC releases nationwide directives to tackle unauthorised constructionsAP High Court upholds lesbian couple’s right to live together‘Disease X’ detected by WHO in Congo turns out to be malariaGST - Word 'shall' substituted with 'may' - Non-issuance of pre-show cause notice during the period prior to amendment of rule 142(1A) - Contentions raised are arguable - Petitioner relegated to respond to SCN: HCGST - Payment of pre-deposit not indicated while filing appeal online - Dismissal of appeal even after the error was corrected is excessively disproportionate: HCCX - Cash seized and deposited as FD in bank - Merely because the time was insufficient for department to check the calculations when the same was filed cannot be ground on which the order can be reviewed: HCWill China's trade pre-eminence survive with its kicking-away-the-ladder approach?China alleges American hacks stole trade secrets from tech firmsI-T - If assessee while passing entries in books, had reduced sales turnover & tax liability, but not allowed genuine trade discount to customers, then its claim towards trade discount is not maintenable: ITATPentagon says China expanding N-forces at swift paceI-T - If assessee has voluntarily surrendered income in good faith to buy peace and to cooperate with Department, said voluntary surrender of income cannot be considered as concealment of income: ITATFed lowers interest rate by 25 basis pointsI-T- Additions framed u/s 68 on grounds of bogus transactions are invalid, where the transactions in question appear to be genuine: ITATUS sanctions 4 entities for aiding Pakistan’s missile programmesI-T - Compensation received by assessee from builder for delayed handing over of property, is not chargeable to tax in hands of assessee: ITATAmazon workers to strike work during peak holiday seasonsI-T - Written down value of block of assets cannot be increased by amount of insurance claim not received by assessee: ITATUK Prime Minister invites Indian investors at Downing StreetI-T - Penal interest charged by bank for overdue payment of loan instalments, being crystallised in relevant year and recovered from assessee, is allowable expense covered by provisions of Sec 43B: ITATMusk says Starlink is inactive in India as security concerns remain unresolvedI-T - Interest derived from co-operative banks, which are co-operative societies, is allowable as deduction u/s. 80P(2)(d): ITAT13 drown as boat capsizes in Arabian Sea off MumbaiMandatory QR codes on Crash Barriers to provide Installation SOP at Project SitesI-T- Penalty u/s 271(1)(c) cannot be sustained where imposed on grounds of concealment of income & where upheld on a different ground of furnishing inaccurate particulars of income : ITAT3.52 lakh female employees enrolled in ESI Scheme in Oct monthCus - Ex parte order passed is valid where demand is upheld on merits as well as due to assessees' failure to appear for hearing despite being given 7 opportunities: CESTATCCPA imposes penalties of Rs 1.2 Cr for misleading adsST - Service Tax on sale of coal rejects, not payable, where such value is already included in taxable value for beneficiation service: CESTATIndian Navy's 2nd State-of-the-Art Survey vessel INS Nirdeshak commissionedCus - Specific description of 'prepared additives for cements, mortars or concretes' under heading 3824 will prevail over more general category of modified starches under heading 3505: CESTAT
 
Indian Navy's 2nd State-of-the-Art Survey vessel INS Nirdeshak commissioned

By TIOL News Service

NEW DELHI, DEC 19, 2024: INS Nirdeshak, the second ship of Survey Vessel (Large) project, was commissioned into the Indian Navy, in a ceremony presided over by Raksha Rajya Mantri, Sanjay Seth on 18 December 2024 at Naval Dockyard, Visakhapatnam. Vice Admiral Rajesh Pendharkar, Flag Officer Commanding-in-Chief, Eastern Naval Command hosted the commissioning ceremony marking the formal induction of the second of the four ships of Survey Vessel (Large) project under construction at M/s Garden Reach Shipbuilders & Engineers (GRSE) Kolkata. The ship is designed to conduct hydrographic surveys, aid in navigation, and support maritime operations.

Speaking on the occasion RRM said that highly specialised ships – the Survey Vessels – play a vital role in charting the oceans. These are sophisticated niche platforms that allow for a more accurate collation of oceanic data, its precise processing and as a result, highly reliable charts that enhance maritime operations and safety, he added.

RRM further said that the Survey Ships also act as a credible maritime diplomacy tool. “When our Survey Ships undertake missions in support of a friendly country, they epitomise what India believes in – helping a friend in need without asking for something in return. This would help in strengthening our bilateral ties and in opening up and promoting trade opportunities in the long term. The new Survey Ships will make us more potent also, as foreign fleets are looking towards Bharitya Nausena for hydrographic cooperation, he added.

Built with over 80% indigenous content, the ship is embedded with advanced hydrographic systems such as Multi Beam Echo Sounders, Side Scan Sonars, Autonomous Underwater Vehicle (AUV), Remotely Operated Vehicle (ROV) etc. These enable precise mapping for safe navigation and planning in deep-sea operations, expands survey capabilities in hazardous and restricted zones and facilitates faster and safer data collection for wreck identifications and environmental studies.

The vessel will contribute significantly to the Indian Ocean Region's security and environmental health and strengthening India's leadership in regional collaboration, scientific exploration, and peacekeeping missions. The ship will strengthen the SAGAR (Security and Growth for All in the Region) initiative by promoting shared maritime data with friendly foreign countries.

The construction of ship was a collaborative endeavour of Indian Navy's Warship Design Bureau, GRSE, L&T, SAIL, IRS and a significant number of MSMEs exemplifying India's commitment to self-reliance in defence manufacturing and maritime capabilities.


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