News Update

Indigenous Technology Cruise Missile successfully flight-tested by DRDO off the Odisha coastUS imposes fresh sanctions against Iranian drone productionIREDA's GIFT City office to boost Green Hydrogen and Renewable Energy Manufacturing ProjectsVoting for General Elections 2024 commences tomorrowGlobal warming up to 3 degrees to cost 10% of global GDP: StudyNexus 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 EVsWorld leaders appeal for quick ratification of UN Ocean Treaty
Untitled Document

LOK SABHA

The following Bill was introduced in Lok Sabha on 3rd December, 2014:-

BILL NO.155 OF 2014

A Bill to repeal certain enactments and to amend certain other enactments.

BE it enacted by Parliament in the Sixty-fifth Year of the Republic of India as follows:-

1. This Act may be called the Repealing and Amending (Second) Act, 2014.

2. The enactments specified in the First Schedule are hereby repealed to the extent mentioned in the fourth column thereof.

3. The enactments specified in the Second Schedule are hereby amended to the extent and the manner mentioned in the fourth column thereof.

4. The repeal by this Act of any enactment shall not affect any Act in which such enactment has been applied, incorporated or referred to;

and this Act shall not affect the validity, invalidity, effect or consequences of anything already done or suffered, or any right, title, obligation or liability already acquired, accrued or incurred, or any remedy or proceeding in respect thereof, or any release or discharge of or from any debt, penalty, obligation, liability, claim or demand, or any indemnity already granted, or the proof of any past act or thing;

nor shall this Act affect any principle or rule of law, or established jurisdiction, form or course of pleading, practice or procedure, or existing usage, custom, privilege, restriction, exemption, office or appointment, notwithstanding that the same respectively may have been in any manner affirmed, recognised or derived by, in or from any enactment hereby repealed;

nor shall the repeal by this Act of any enactment revive or restore any jurisdiction, office, custom, liability, right, title, privilege, restriction, exemption, usage, practice, procedure or other matter or thing not now existing or in force.

THE FIRST SCHEDULE

(See section 2)

REPEALS

Year No. Short title Extent of repeal
1999 1 The Export-Import Bank of India (Amendment) Act, 1998 The whole.
1999 7 The High Court and Supreme Court Judges (Salaries
and Conditions of Service) Amendment Act, 1998
The whole.
1999 16 The Salary, Allowances and Pension of Members of
Parliament (Amendment) Act, 1999
The whole
2000 1 The Recovery of Debts Due to Banks and Financial
Institutions (Amendment) Act, 2000
The whole.
2000 7 The Small Industries Development Bank of India
(Amendment) Act, 2000
The whole
2000 12 The Food Corporations (Amendment) Act, 2000 The whole
2000 15 The National Housing Bank (Amendment) Act, 2000 The whole.
2000 17 The Salary, Allowances and Pension of Members of
Parliament (Amendment) Act, 2000
The whole.
2000 18 The Leaders and Chief Whips of Recognised Parties and Groups in Parliament (Facilities) Amendment Act, 2000 The whole.
2000 22 The Major Port Trusts (Amendment) Act, 2000 The whole.
2000 23 The Insecticides (Amendment) Act, 2000 The whole.
2000 35 The Border Security Force (Amendment) Act, 2000 The whole.
2000 39 The State Financial Corporations (Amendment) Act, 2000 The whole.
2000 44 The Multimodal Transportation of Goods (Amendment)
Act, 2000
The whole.
2000 55 The National Bank for Agriculture and Rural Development
(Amendment) Act, 2000
The whole.
2001 10 The Chit Funds (Amendment) Act, 2001 The whole.
2001 23 The Warehousing Corporations (Amendment) Act, 2001 The whole.
2001 27 The Food Corporations (Amendment) Act, 2001 The whole.
2001 38 The Government of Union Territories and the Government of National Capital Territory of Delhi (Amendment) Act, 2001 The whole.
2001 40 The Inland Waterways Authority of India (Amendment) Act, 2001 The whole.
2001 46 The Salary, Allowances and Pension of Members of
Parliament (Amendment) Act, 2001
The whole.
2001 54 The Explosive Substance (Amendment) Act, 2001 The whole.
2002 14 The Inter-State Water Disputes (Amendment) Act, 2002 The whole.
2002 29 The Salaries and Allowances of Officers of Parliament and Leaders of Opposition in Parliament (Amendment) Act, 2002 The whole.
2002 30 The Sugar Development Fund (Amendment) Act, 2002 The whole.
2002 31 The Salaries and Allowances of Officers of Parliament (Second Amendment) Act, 2002 The whole.
2002 34 The Salary, Allowances and Pension of Members of
Parliament (Amendment) Act, 2002
The whole.
2002 40 The General Insurance Business (Nationalisation)
Amendment Act, 2002
The whole.
2002 42 The Insurance (Amendment) Act, 2002 The whole.
2002 51 The Homoeopathy Central Council (Amendment)
Act, 2002
The whole.
2002 52 The Indian Medicine Central Council (Amendment)
Act, 2002
The whole.
2002 55 The Negotiable Instruments (Amendment and
Miscellaneous Provisions) Act, 2002
The whole.
2002 56 The Salaries and Allowances of Officers of Parliament and Leaders of Opposition in Parliament (Second Amendment) Act, 2002 The whole.
2002 62 The Consumer Protection (Amendment) Act, 2002 The whole.
2003 7 The High Court Judges (Salaries and Conditions of
Service) Amendment Act, 2002
The whole.
2003 8 The Supreme Court Judges (Salaries and Conditions
of Service) Amendment Act, 2002
The whole.
2003 10 The Scheduled Castes and Scheduled Tribes Orders
(Amendment) Act, 2002
The whole.
2003 11 The Companies (Second Amendment) Act, 2002 The whole.
2003 35 The Delhi High Court (Amendment) Act, 2003 The whole.
2003 37 The Essential Commodities (Amendment) Act, 2003 The whole.
2003 44 The Sixth Schedule to the Constitution (Amendment) Act, 2003 The whole.
2003 48 The National Bank for Agriculture and Rural Development (Amendment) Act, 2003 The whole.
2003 51 The Railways (Second Amendment) Act, 2003 The whole.
2003 58 The Indian Medicine Central Council (Amendment)
Act, 2003
The whole.
2003 59 The Merchant Shipping (Amendment) Act, 2003 The whole.
2004 4 The Prevention of Terrorism (Amendment) Act, 2003 The whole.
2004 6 The Citizenship (Amendment) Act, 2003 The whole.
2004 9 The Salary, Allowances and Pension of Members of
Parliament (Amendment) Act, 2003
The whole.
2004 16 The Foreigners (Amendment) Act, 2004 The whole.
2004 24 The Banking Regulation (Amendment) and Miscellaneous Provisions Act, 2004 The whole.
2004 30 The Enforcement of Security Interest and Recovery of Debts Laws (Amendment) Act, 2004 The whole.
2005 19 The Government of Union Territories and the Government of National Capital Territory of Delhi (Amendment) Act, 2005 The whole.
2005 32 The Citizenship (Amendment) Act, 2005 The whole.
2005 40 The Sree ChitraTirunal Institute for Medical Sciences and Technology, Trivandrum (Amendment) Act, 2005 The whole.
2005 45 The Warehousing Corporations (Amendment) Act, 2005 The whole.
2005 46 The High Court and Supreme Court Judges (Salaries and Conditions of Service) Amendment Act, 2005 The whole.
2006 2 The Criminal Law (Amendment) Act, 2005 The whole.
2006 5 The Government of Union Territories and the Government of National Capital Territory of Delhi (Amendment) Act, 2006 The whole.
2006 6 The Contempt of Courts (Amendment) Act, 2006 The whole.
2006 26 The Reserve Bank of India (Amendment) Act, 2006 The whole.
2006 40 The Salary, Allowances and Pension of Members of
Parliament (Amendment) Act, 2006
The whole.
2006 45 The Banking Companies (Acquisition and Transfer of
Undertakings and Financial Institutions Laws
(Amendment) Act, 2006
The whole.
2006 54 The Essential Commodities (Amendment) Act, 2006 Sections 2 to 5.
2007 17 The Banking Regulation (Amendment) Act, 2007 The whole.
2007 18 The National Tax Tribunal (Amendment) Act, 2007 The whole.
2007 30 The State Bank of India (Subsidiary Banks Laws)
Amendment Act, 2007
The whole.
2007 32 The State Bank of India (Amendment) Act, 2007 The whole.
2007 35 The Inland Vessels (Amendment) Act, 2007 The whole.
2007 40 The Merchant Shipping (Amendment) Act, 2007 The whole.
2008 4 The Sugar Development Fund (Amendment) Act, 2008 The whole.
2008 30 The Salaries and Allowances of Officers of Parliament (Amendment) Act, 2008 The whole.
2009 5 The Code of Criminal Procedure (Amendment) Act, 2008 The whole.
2009 11 The Supreme Court (Number of Judges) Amendment
Act, 2008
The whole.
2009 20 The Agricultural and Processed Food Products Export Development Authority (Amendment) Act, 2009 The whole.
2009 23 The High Court and Supreme Court Judges (Salaries
and Conditions of Service) Amendment Act, 2009
The whole.
2009 48 The State Bank of Saurashtra (Repeal) and the State Bank of India (Subsidiary Banks) Amendment Act, 2009 Sections 3 to 11.
2010 27 The State Bank of India (Amendment) Act, 2010 The whole.
2010 37 The Salary, Allowances and Pension of Members of
Parliament (Amendment) Act, 2010
The whole.
2010 41 The Code of Criminal Procedure (Amendment) Act, 2010 The whole.
2010 43 The Indian Medicine Central Council (Amendment)
Act, 2010
The whole.
2011 7 The State Bank of India (Subsidiary Banks) Amendment Act, 2011 The whole.
2011 17 The State Bank of India (Subsidiary Banks Laws)
Amendment Act, 2011
The whole.
2012 5 The New Delhi Municipal Council (Amendment) Act, 2011 The whole.
2012 8 The Life Insurance Corporation (Amendment) Act, 2011 The whole.
2012 11 The Export-Import Bank of India (Amendment) Act, 2011 The whole.
2012 26 The North-Eastern Areas (Reorganisation) and Other Related Laws (Amendment) Act, 2012 The whole.
2012 36 The Chemical Weapons Convention (Amendment)
Act, 2012
The whole.
2013 1 The Enforcement of Security Interest and Recovery of Debts Laws (Amendment) Act, 2012 The whole.
2013 4 The Banking Laws (Amendment) Act, 2012 The whole.
2013 27 The Wakf (Amendment) Act, 2013 The whole.

THE SECOND SCHEDULE

(See section 3)

AMENDMENTS

Year No. Short title Amendments
2008 11 The Railways (Amendment) Act, 2008

In section 2,––

(i) the words and figure “section 2 of” shall be omitted;

(ii) after the brackets and words
“(hereinafter referred to as the principal
Act)”, insert the words and figure “in
section 2”.

2008 22 The Indian Maritime University Act, 2008 In section 2, for the words “in all Statutes made hereunder”, substitute the words “in the Statutes made thereunder”.

STATEMENT OF OBJECTS AND REASONS

This Bill is one of those periodical measures by which enactments which have ceased to be in force or have become obsolete or the retention whereof as separate Acts is unnecessary are repealed or by which the formal defects detected in enactments are corrected.

2. The notes which follow explain the reasons for the amendments suggested in such of those items of the Bill in respect whereof some detailed explanation is necessary.

3. Clause 4 of the Bill contains a precautionary provision which it is usual to include in the Bill of this kind.

NEW DELHI;
The 2nd December, 2014.

D V SADANANDA GOWDA

NOTES ON THE SECOND SCHEDULE

1. The Railways (Amendment) Act, 2008.-The amendment proposed to the Act seeks to rectify the mistake that had inadvertently crept in at the time of enactment of the Act.

2. The Indian Maritime University Act, 2008.- The amendment proposed to the Act seeks to rectify patent errors.

Anoop Mishra
Secretary-General

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.