News Update

Israel-Iran War: A close shave for Global Economy but for how long?I-T - If income from stock-in-trade are held as investments, then provisions of section 14A would apply to such income: ITATTRAI recommends on Infra Sharing, Spectrum Sharing & Spectrum LeasingI-T- Revisionary powers u/s 263 can't be exercised when AO has neither assumed facts incorrectly nor there is incorrect application of law : ITATTechnology Board okays funding of Dhruva Space's Solar Array ProjectI-T- Issue of interest is debatable issue on which two views are possible and AO accepted one of views for which PCIT cannot assume revisional jurisdiction: ITATHealth Secy visits Bilthoven Biologicals, discusses production of Polio VaccineI-T - Estimation of profit element from purchases should be done reasonably if assessee could not conclusively prove that purchases made are from parties as claimed, in absence of confirmations from them: ITATStudy finds Coca-Cola accounts for 11% of branded plastic pollution worldwideI-T- Triplex flats purchased are interconnected and can be considered as 'a residential unit'' as per definition of section 54F of Act : ITATDelhi HC says conspiracy against PM is a crime against StateI-T- AO omitted to probe issue of cash payments made over specified limit; revisionary power u/s 263 is rightly exercised: ITATBrazil makes new rules to streamline consumption taxesI-T-Power of revision unnecessarily exercised where AO had no scope to examine creditworthiness & genuineness of assessee's creditors: ITATBiden signs rules mandating airlines to give automatic refunds for delayed or cancelled flightsI-T-As per settled law, in absence of enabling powers, no disallowance can be made : ITATBYD trying to redefine luxury for new EV variantsGST - On the one hand, the order states registration is liable to be cancelled retrospectively and on the other hand mentions that there are no dues - Order modified: HCIsrael finally moving ahead with Rafah OperationsGST - Registration cancelled retrospectively on ground that physical verification revealed that the firm was non-existent - Petitioner had informed that they shifted business and had sought cancellation of registration - Order cancelling registration modified: HCNorway oil major boss says Europeans are not hard-working as compared to AmericansGST - Since registration was cancelled, petitioner could not access portal and view the SCNs and file replies - Order set aside and matter remitted: HCJio turns world’s top telco in terms of data trafficGST - Reply filed is a detailed one and if the proper officer was of the view that the same was unsatisfactory, he should have specifically sought further details - Matter is remitted: HCGadkari faints during campaign; Heat takes toll on his healthGST - SCN does not put petitioner to notice that the registration is liable to be cancelled retrospectively - Order set aside and registration restored: HCSC asks EC to submit more info on reliability of EVMsGST - Non-application of mind - Proper officer has merely observed that the reply filed is unclear and unsatisfactory and, therefore, the demand is confirmed - Matter remitted for re-adjudication: HCItaly imposes USD 10 mn fine on Amazon for unfair business practicesCommercial Tax - Judgment of High Court is in jeopardy once appeal is entertained by Supreme Court - Appeals shall remain pending before the Appellate Board, Bench at Indore, till the issue is decided by Apex Court: HCUS warns Pak of punitive sanctions against trade deal with IranST - As the job-work undertaken by appellant amounts to manufacture, service tax cannot be levied on them under both Heads 'Business Auxiliary Service' and 'Business Support Service': CESTATRight to Sleep - A Legal lullabyCX - Existence of corroborative evidence is essential in order to establish clandestine removal of goods and same cannot be merely based on assumptions and presumptions: CESTAT
 
Budget Session: Productivity of Lok Sabha significantly improves as compared to last two Houses in 2004 & 2009: Minister

By TIOL News Service

NEW DELHI, AUG 17, 2014: THE Minister of Parliamentary Affairs, Urban Development and Housing & Urban Poverty Alleviation, Mr M.Venkaiah Naidu, has said that on the whole, this first Budget Session was satisfactory and several important issues of national importance like, price rise, MNREGA, flood and drought, UPSC-CSAT, AP Reorganization, atrocities against women, Communal violence, Gaza issue, Efforts of Indian government to get stranded Indians back, Encephalitis, Sugar cane farmers issue, Swaraswathi nadhi issue were discussed along with working of several ministries.

He said that one particular reality of the composition of Parliament being that the ruling coalition is in minority in the Rajya Sabha, it offered both an opportunity and challenges in different ways to different political coalitions.

For the ruling coalition, it offered a challenge of working with the majority opposition and for the opposition – the opportunity of joining hands with the government rising above political considerations for the good of the nation, particularly, when the economy is not in a good shape.

He said that the Government had consciously planned for a record 28 sittings over a session duration of 39 days. This was to enable sufficient time for the opposition and other parties to raise various issues of public concern in both the Houses. I am happy this yielded good results.

The Minister said, "I would like to provide a brief summary of major functional attributes of this budget session vis-à-vis similar post-election budget sessions of 2004 and 2009:

 

2004

2009

2014*

Number of sittings

24

26

27

Bills introduced in Lok Sabha

8

16

20#

Bills passed  by Lok Sabha

6

  8

13

Bills passed by Rajya Sabha

6

  8

12

Bills passed by both the Houses

6

  8

12

(# Including Central Universities (Amendments) Bill 2014 included for introduction today, * as on 13.8.2014 and need to be updated appropriately)

In Lok Sabha 166 hrs 56 minutes of session was held out of which, 14 hrs and 23 minutes were lost due to interruptions. However, the time lost was gained by 27 hrs and 10 minutes as house sat late to compensate the loss. Similarly in Rajya Sabha a total of 140 hrs was done out of which 21 hrs and 22 minutes were lost and a total of 38 hrs and 12 minutes were gained as house sat late to compensate the loss.

Broadly, statistics suggest that productivity of Lok Sabha has significantly improved in respect of working hours and time lost in comparison to that of 2004 and 2009

One of the landmark achievements of this session has been that the government has shown unmatched unanimity in passing the Constitution Amendment Bill and Judicial Appointments bill. For Various committees and Govt. bodies in which Lok Sabha and Rajya Sabha members represent, "I am happy to share that most of them have been elected unanimously without elections. I thank all the political parties in this context for getting the land mark legislation passed by this House," he added.


POST YOUR COMMENTS
   

TIOL Tube Latest

Shri N K Singh, recipient of TIOL FISCAL HERITAGE AWARD 2023, delivering his acceptance speech at Fiscal Awards event held on April 6, 2024 at Taj Mahal Hotel, New Delhi.


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