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ST - Amendment made to FA, 1994 on 14.05.2015 making service tax applicable retrospectively on chit-fund business is only prospective - Refund payable of tax paid between 01.07.2012 to 13.05.2015: HCST - SVLDRS, 2019 - Amnesty Scheme, being of the nature of an exemption from the requirement to pay the actual tax due to the government, have to be considered strictly in favour of the revenue: HCCX - Issue involved is valuation of goods u/r 10A of CE Valuation Rules, 2000 - Appeal lies before Supreme Court: HCCus - Smuggling - A person carrying any article on his belonging would be presumed to be aware of the contents of the articles being carried by him: HCCus - Penalty that could be imposed for smuggling 3.2 kg of gold was Rs.88.40 lakhs, being the value of gold, but what is imposed is Rs.10 lakhs - Penalty not at all disproportionate: HCCus - Keeping in mind the balance of convenience and irreparable injury which may be caused to Revenue, importer to continue indemnity bond of 115 crore and possession of confiscated diamonds to remain with department: HCCus - OIA was passed in October 2022 remanding the matter to adjudicating authority but matter not yet disposed of - Six weeks' time granted to dispose proceedings: HCI-T - High Court need not intervene in matter involving factual issues; petitioner may utilise option of appeal: HCChina asks Blinken to select between cooperation or confrontationI-T - Unexplained cash credit - additions u/s 68 unsustainable where based on conjecture & surmise alone: ITATHonda to set up USD 11 bn EV plant in CanadaI-T - Re-assessment is invalid where based only on a suspicion that income escaped assessment & where not based on concrete reasons to believe for commencing such proceedings : ITATImran Khan banned from flaying State InstitutionsI-T - Income from sale of flats cannot be computed in assessee's hands, where legal possession of flats had not been handed over to buyers in that particular AY: ITATPro-Palestine demonstration spreads across US universities; 100 arrestedI-T - Investment activities in venture capital which are not covered in negative list under Schedule III to SEBI Regulations, qualifies for deduction u/s 10(23FB): ITATNATO asks China to stop backing Russia if keen to forge close ties with WestCus - When Department has not complied with time limit, the order issued for revocation of licence or order issued for continuation of suspension licence cannot sustain: CESTATNY top court quashes conviction of Harvey Weinstein in rape caseWeather prediction normal for phase 2 poll dayIndiGo orders 30 Airbus A350s for long haulsST - Appellant is an 'authorised medical practitioner' providing 'healthcare services' - services exempted in terms of clause 2(i) of notification 25/2012-ST: Commr(A)RBI to issue fresh guidelines for banks to freeze suspected bank accounts being used for cyber crimesREC avails SACE-Covered Green Loan for 60.5 Billion Japanese YenStudy finds Coca-Cola accounts for 11% of branded plastic pollution worldwideCus - 'Small Form-factor Pluggable Optical Transceivers' are classifiable under CTH 8517 7090 and not under CTH 8517 62 90 - entitled for benefit of duty concession under 57/2017-Cus: CESTATDoNER discusses Development of Tourism in North EastCX - Appellant is eligible for exemption under Notfn 12/2012-CE upon fulfilling all conditions stipulated therein, thus sufficiently establishing that goods dealt with by Appellants qualify for exemption: CESTAT
 
Panel set up to suggest roadmap for establishment of Universities for Research & Innovation

By TIOL News Service

NEW DELHI, AUG 13, 2013: THE Government has decided to set up a Committee for recommending changes to the provisions of the Universities for Research and Innovation Bill, 2012 and suggest a roadmap for future. The ten member Committee will by headed by Prof. Ramakrishna Ramaswamy, Vice Chancellor, University of Hyderabad. The changes will be in the context of the observations / comments of the Parliamentary Standing Committee's report on the Bill. The members of the Committee include Mr Aromar Revi, Director, IIHS; Mr Ajay Batra, Azim Premji Foundation; Mr Deepak Chandra, Deputy Dean, ISB, Hyderabad; Prof. Brijendra Nath Jain, Vice-Chancellor, BITS, Pilani; Prof. C. Rajkumar, Vice-Chancellor, O.P.Jindal University, Sonipat, Haryana; Dr. Rao Aiyagari, Senior Adviser, PHFI, New Delhi; Dr. G. Mohan Gopal, Director, RGICS, New Delhi; Mr R.P.Sisodia, Joint Secretary (HE), Department of Higher Education, MHRD, New Delhi; and Shri Vikram Sahay, Joint Secretary, UGC.

The Committee will examine the report of the Parliamentary Standing Committee on Human Resource Development on the Universities for Research & Innovation Bill, 2012. It will also examine the modalities for establishment of Universities for Research and Innovation and suggest a road-map for establishment of such universities by reputed promoters. The Committee will also recommend changes in the provisions of the Bill, 2012 in the context of the observations/ comments of the PSC on HRD.

The Committee has been asked to submit its report / recommendations within a period of three months from the date of its first meeting.

The Parliamentary Standing Committee (PSC) on Human Resource Development had submitted its report on the Bill. The PSC has raised some issues on certain features of the Bill. The Minister for Human Resource Development, Dr. Pallam Raju, chaired a consultative meeting with Vice Chancellors, Heads of Private Institutions/Universities as also stakeholders on establishment of Universities for Research and Innovation.

The Ministry of Human Resource Development introduced the Universities for Research & Innovation Bill, 2012 in the Lok Sabha on 21.5.2012. The Bill provides for establishment and incorporation of Universities for Research and Innovation which would work towards making India a global knowledge hub. They would set benchmarks for excellence for other institutions of higher learning through path-breaking and promoting synergies between teaching, learning and research.


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