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Nexus between Election Manifesto and Budget 2024 in July!Clearing the Air: Airtel's SC Decision provides clarity on test of AgencyGST implications for Corporate Debtor under IBCI-T- Petitioner's CIBIL score lowered due to same PAN being issued to another assessee who defaulted on loan; I-T Deptt to inform CIBIL of remedial measures taken: HCBrazil’s proposal to tax super-rich globally finds many takers in G20 GroupI-T- Additions framed on account of unconfirmed cash loans upheld in part, where assessee is unable to discharge onus of proving source of cash deposits : ITATCPM manifesto promising annihilation of all weapons of mass destructions including nuclear, draws flak from Defence MinisterI-T- Registration of trust u/s 12A denied due to inadvertent error by assessee in filing Form 10AB but with wrong selection code; case remanded for reconsideration: ITATBiden favours higher steel tariff on ‘cheating’ China + may up tariff on dominant solar tech suppliersI-T- Enhancement of income is not sustainable if CIT (A) not follow sec 251 and no notice given to assessee of enhancement : ITATUS Poll: Biden trumps Trump in money race by USD 75 mnI-T- Assessee is entitled for depreciation on goodwill arising out of difference between cost of acquisition and net value of assets and liabilities as per book value of CAPL : ITATNetanyahu says Israel to decide how and when to respond to Iran’s aggressionI-T- There is no scope of extrapolation in search assessment based solely on assumptions and surmises in absence of any tangible material qua the relevant assessment year: ITATGoogle slays costs by laying off staffers & shifting roles outside USI-T- Re-assessment cannot be sustained where based on borrowed satisfaction & where conducted in a mechanical manner: ITATHeavy downpours drown Dubai; Airport issues travel advisoryCus - There cannot be an exercise of jurisdiction to injunct invocation of BG, as it is a settled principle of law that bank guarantee constitutes an independent contract between the bank and the party in whose favour BG is furnished: HCHM pledges to make India completely Maoist-freeGST - Except for holding that the taxpayer had availed ITC which is blocked credit u/s 17(5), no reasons are specified - Order set aside and matter remanded: HCMicrosoft to inject USD 1.5 bn in AI Group G42 of UAEGST - Injustice would be caused unless petitioner is provided another opportunity to contest tax demand on merits - Subject to deposit of 10% of demand, matter is remanded: HCCanadian budget proposes more taxes on higher income groups & tax credits for EVsGST - Petitioner has an appellate remedy against the impugned order - As petition was filed within the original period of limitation, it is just and appropriate that petitioner be permitted to present statutory appeal: HCWorld leaders appeal for quick ratification of UN Ocean TreatyGST - Once the notification itself has been declared as ultra vires, applying it would amount to applying an illegal notification: HCUK House debates ban on smokingGST - Transfer of development rights is amenable to GST and cannot be brought within the purview of Entry 5 of Schedule-III: HCGlobal economy to grow at 3.2% in current year and also 2025: IMFGST - Challenge to notification 11/2017-CTR clarifying the aspect of transfer of development rights being attracted to GST/TGST is devoid of merits: HCGreat Barrier Reef in Australia suffers serious bleachingGST - Conclusions were recorded in the assessment order without providing a personal hearing - Order set aside and matter remanded: HCUS to impose fresh sanctions on Iran’s missile programmeCus - Mere fact that Commissioner of Customs has filed an affidavit would not denude an officer, otherwise empowered under the Act/Rules to issue and adjudicate a SCN even though the officer may be below the rank of Commissioner: HCDelhi Police nabs woman for thieving luxury SUVsCus - As wife of appellant has already been penalized for the offence related to importation of BMW M5 Car, no reason found to impose penalty against appellant for same offence: CESTAT
 
Blue Revolution - Focus to be on Mission Fingerling

By TIOL News Service

NEW DELHI, MAR 12, 2016: HAVING identified the potential in the fisheries sector, Government has envisaged a program named ‘’Blue Revolution’’ to unlock the country’s latent potential through an integrated approach. The Blue Revolution, in its scope and reach, focuses on creating an enabling environment for an integrated and holistic development and management of fisheries for the socio economic development of the fishers and fish farmers. Thrust areas have been identified for enhancing fisheries production from 10.79 mmt (2014-15) to 15 mmt in 2020-21.

Greater emphasis will be on infrastructure with an equally strong focus on management and conservation of the resources through technology transfer to increase in the income of the fishers and fish farmers. Productivity enhancement shall also be achieved through employing the best global innovations and integration of various production oriented activities such as: Production of quality fish seeds, Cost effective feed and adoption of technology etc.

Fish Fingerling production is the single most important critical input visualised to achieve fish production targets under the Blue Revolution. We need to establish more hatchery to produce Fry/PL required for different categories of water bodies. Barring few States that’s to in terms of fry (15-20 mm size), all States are in need of Fingerling production (standard size 80-100 mm). Use of High Yielding Verities of brooders is another significant aspect to be addressed on priority.

The Department has identified 20 States based on their potential and other relevant factors to strengthen the Fish Seed infrastructure in the country. This program with a total expenditure of about Rs. 52000 lakh will facilitate the establishment of hatcheries and Fingerling rearing pond to ensure the fish production of 426 crores fish fingerling, 25.50 crores Post Larvae of shrimp and crab in the country. This will converge in the production of 20 lakh tonnes of fish annually and will benefit about 4 million families. The implementation of this program will supplement the requirement of stocking materials in the country up to a large extent, which is a much needed input to achieve the enhanced fish production.


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