News Update

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
 
India keen to give fillip to relations with African countries: Ansari

By TIOL News Service

NEW DELHI, FEB 20, 2017: THE Vice President of India, Mr M. Hamid Ansari, has said that after the India Africa Forum Summit (IAFS) conference in India, there is a renewed and more focused effort by the Government to give a dynamic impetus to our relations with African nations. He was addressing the Media onboard Air India One Special Aircraft on the way to five-day visit to Rwanda & Uganda.

 The Vice President said that the President of India has visited three countries, the Prime Minister has visited four countries and he himself has visited five countries so far, and this visit will add another two. This is a part of a conscious effort by the Government to intensify our interaction with countries of Africa at the highest political level, he added.

 The Vice President said that putting behind its painful experience of early 1990s, the Rwandan economy has reported consistent high growth. There is an increased focus on business and a business delegation from India is also visiting Rwanda to coincide with the Vice President's visit. He further said that Indian companies could look at making Rwanda an entry point for Africa by utilizing the dynamism of the Rwandan economy. As part of our development cooperation, we have collaborated with Rwanda on several projects, he added. 

 The Vice President said that Uganda has a large number people of Indian origin and they continue to play an important role in the economic growth of Uganda. Uganda perceives an important role for itself in Africa and we have very good relations with them, he added.

 The Vice President said that we have a strong developmental cooperation with both the nations, which is unique because the priority is defined by the African partners themselves.

 Reacting to a question on safety of African nationals in India, the Vice President said that the Government has made its position very clear that these are rare and sporadic attacks by anti-social elements. He further said that the issues have been raised at diplomatic levels and our response has been comprehensive and is satisfactory to African friends. It has not affected the flow of African students who come in large numbers to India, he added.

 To  a question on India's assistance in development of African nations, the Vice President said that these countries are interested in using our own experience of dealing with similar challenges. We have had some success with projects like e-medicine etc. in the past and that we would continue to provide them all possible assistance in accordance with their wishes.

 To a question on what could be the areas of India's cooperation with African nations, the Vice President said that we have left it for our development partners in Africa to identify their own priorities and it is they who decide where they want to benefit from Indian knowledge and expertise. Once they do that, then we transform it into concrete projects of assistance. The experience so far, has been satisfactory for both, 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.