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Pendency of indirect tax appeal cases down 61 in two years MoS

first_imgNew Delhi: The pendency of appeal cases related to indirect taxes in the Supreme Court, High Court and CESTAT has reduced 61 per cent to 1.05 lakh in almost 2 years, Parliament was informed on Tuesday. Minister of State for Finance Anurag Thakur in a written reply to a question in the Rajya Sabha said the total pendency of appeals at the Supreme Court, High Court and CESTAT (Customs Excise and Service Tax Appellate Tribunal) as on June 30, 2017, was 2,73,591, whereas the same has significantly come down to 1,05,756 as on March 31, 2019, a reduction of 61 per cent. With regard to direct taxes, as many as 3.41 lakh cases were pending before commissioner (appeal), while 92,205 cases were pending before the Income Tax Appellate Tribunal (ITAT) as on March 31, 2019. Also Read – Thermal coal import may surpass 200 MT this fiscalBesides, 43,224 and 6,188 direct taxes-related cases were pending before High Court and Supreme Court as on December 31, 2018, respectively. Thakur further said the Central Board of Direct Taxes (CBDT) has raised the monetary limits for filing appeals before appellate tribunal and courts. Appeals would be filed before ITAT, high courts and Supreme Court only where tax effect is to the tune of Rs 20 lakh, Rs 50 lakh and Rs 1 crore, respectively.last_img read more

Ford 3Dprinted the manifold for Ken Blocks 900hp F150 Hoonitruck

first_img This is the largest 3D-printed metal car part Ford Share your voice News • 2019 Ford Ranger recalled for improperly assembled seatbelts 2020 BMW M340i review: A dash of M makes everything better Now playing: Watch this: 0 Review • 2019 Ford Ranger review: A midsize truck champ More about 2019 Ford Ranger More From Roadshow 2020 Kia Telluride review: Kia’s new SUV has big style and bigger valuecenter_img While 3D printing has been working its way into the industry mostly via plastic, 3D-printing metal objects is gaining popularity, too. BMW has already invested in the tech, and Bugatti used it to build a gnarly titanium brake caliper. HRE, an aftermarket wheel company, used 3D printing to assemble some of the wildest wheels I’ve ever seen, too.The build process for Block’s intake manifold took five days to complete, and if you’re interested in seeing how everything came together, be sure to check out Ford Performance’s video below. 2020 Hyundai Palisade review: Posh enough to make Genesis jealous Auto Tech Car Culture Preview • 2019 Ford Ranger: Bad mudder trucker 3D printing Ford 2:26 Tags Enlarge ImageThis is an aluminum monster, not to be confused with the other Aluminum Monster. Ford Ken Block has been doing wild stuff behind the wheel of Ford vehicles for years now, and one of his latest cars required him to lean on the manufacturer’s work in 3D printing.In the process of building his 900-plus-horsepower “Hoonitruck,” which stars in Block’s new Gymkhana 10 video, it was determined that they’d need a big, complex intake manifold to supply the truck’s twin-turbocharged 3.5-liter V6 with air. Off-the-shelf solutions clearly wouldn’t be able to handle the air required to make all that power.Thus, Ford Performance came to the rescue. Working with Ford’s own engineers in Europe, as well as RWTH Aachen University in Germany, the team designed and 3D-printed an aluminum intake manifold that could handle the required volume of air. Ford claims it’s the largest 3D-printed metal part ever installed on a functioning vehicle. Post a commentlast_img read more

Sun Pharmas profit drops 30 over compliance costs lower sales

first_imgIndia’s largest drug-maker Sun Pharmaceutical Industries Ltd reported a 30% slump in quarterly profit on Saturday, 7 November, as sales in most of its markets fell and costs related to fixing compliance issues continued to hurt.In the company’s largest market, the United States, Sun Pharma’s sales in the quarter ended September were down 28%, which the company attributed mainly to increasing competition and a supply crunch at its Halol manufacturing plant in India.”Halol” was a key contributor to Sun Pharma’s sales, but in September, the US Food and Drug Administration (FDA) outlined a number of problems with manufacturing processes, and the company has since been working on remediating those.However, its profit has been hit for a few quarters as it had to restrict supply, and has not been getting US approvals to launch any product made at the Halol plant.The company’s Managing Director Dilip Shanghvi sought to assure analysts on a conference call on Saturday evening that remediation efforts were on track, though they aren’t yet complete, so the USFDA has not been invited for a re-inspection.”We are keeping (the FDA) updated on the progress at the agreed frequency. I think the things we have promised or assured the FDA, we are addressing,” he said. The company has not received any feedback from the FDA, he added.Halol is one of several Sun Pharma plants undergoing remediation. Five of its other plants — most of which it got as part of its acquisition of Ranbaxy Laboratories Ltd last year — are under an FDA import ban ever since the agency found a series of quality control issues at the plants.Shanghvi said the “full value” of the Ranbaxy deal would be realised by 2018.Apart from generics, the company is developing a drug to treat “psoriasis”, which is in Phase 3 clinical trials and expected to be filed for US approval in 2017.Sun Pharma reported a July-September net profit of Rs 1,107 crore ($167.4 million), down from Rs 1,572 crore a year earlier. Analysts, on average, were expecting Rs 1,308 crore, according to Thomson Reuters data.Total revenue was down 15% as sales across the countries it operates in fell. India was the only exception, where sales rose a marginal 1%.The company said currency volatilities and a decision to reduce its presence in some less-profitable areas hurt its sales in emerging and other markets during the quarter.last_img read more

Has PM Modiled BJP exorcised ghosts of Vajpayeeled 2004 India Shining campaign

first_imgThe combination of Prime Minister Narendra Modi and BJP president Amit Shah in 2019 may have exorcised the ghosts of the party’s disastrous 2004 ‘India Shining’ campaign.Twitter/IANSExit polls have predicted the return of Prime Minister Narendra Modi to power, sending the markets into a tizzy. The huge majority expected for the Bharatiya Janata Party (BJP)-led National Democratic Alliance (NDA) has spurred the stock markets to new highs. Traders hope that the prospect of the installation of a market-friendly government will bring back the foreign portfolio investors (FPI) that had taken flight during the six-week-long seven-phase election process.The markets are likely to price in the euphoria ahead of the May 23 counting and there is a chance of the volatility peaking. The election outcome is likely to emerge only in a day or two after the counting begins because of the delay in matching the VVPAT (voter-verified paper audit trail) slips with the EVM (electronic voting machine) numbers.The exit polls predict that the NDA could win between 267 and 354 seats in the 543-member Lok Sabha. In contrast, the BJP-led NDA won 336 seats in 2014, as against 60 of the main opposition Congress party-led United Progressive Alliance (UPA) that is projecting Rahul Gandhi as its prime minister candidate. The mish-mash of regional parties and the left outfits won 147 seats in 2014.But the political observers have been right in cautioning the market to temper the euphoria that the exit polls have triggered. They cite the euphoria created by the exit poll predictions of 2004 after the Atal Bihari Vajpayee-led BJP mounted the India Shining campaign. Most major exit polls then suggested that the NDA would come back to power with a wide lead over the Congress-led alliance. Congress president Rahul Gandhi would fervently want to draw parallels between 2004 and 2014 Lok Sabha election campaigns.Of course, the figures that the surveys threw up then were much moderate than the 2019 exit polls. Only Sahara DRS and Star News Cvoter surveys placed NDA beyond the half-way mark of 272 seats. Sahara DRS poll projected a tally of 278 seats for NDA against 181 for the UPA, while Star News CVoter survey gave the NDA 275 seats and UPA 186. In fact, the average of five major surveys predicted 260 seats for the BJP-led front and 188 for the UPA. However, the NDA ended up with 189 seats against the UPA’s 225. The rest is history with two stints of Manmohan Singh as prime minister until the 2014 Modi wave.Some experts point out that exit polls would be closer to the actual results in a less emotionally charged election. This is because exit polls often reflect the voters’ perception of the scenario rather than his or her actual preference. In an atmosphere that is extremely vitiated by the social media and massive campaigns, there is all the more a chance of the voters’ perception being influenced by the last message that got imprinted in the memory.Therefore, veteran traders suggest caution while trading the election news with tight stop-loss settings. The market could see some profit-taking ahead of the results on Thursday, especially after the single day surge of more than 1,400 points to close at 39,352 points of the Bombay Stock Exchange (BSE) benchmark Sensex and 400 points of the National Stock Exchange benchmark Nifty to close at 11,828 points taking the benchmark indices to shouting distances of all-time high points.Of course, 2019 is not exactly 2004 and the combine of Prime Minister Modi and BJP president Amit Shah is not that of Vajpayee and LK Advani. The BJP’s vote share has surged since 2004 and there is no denying that the party has spread into more areas with strong organizational buildups. Therefore, the exit polls this time could hit the bull’s eye.last_img read more

Prisoner dies in Jashore jail

first_imgA convicted prisoner of a murder case, died at the Jashore Central Jail on Thursday.The deceased was Mohammad Iqbal Sheikh, son of Abdul Khalek Sheikh of Shamnagar village in Fakirhat upazila of Bagerhat.Md Abu Taleb, jailor of Jashore Central Jail said Iqbal was taken to the jail hospital after he fell unconscious in the morning.Later, he was shifted to Jashore General Hospital as his condition deteriorated where the physicians declared him dead. The physicians suspected that Iqbal had a heart attack.Iqbal was awarded death penalty in a murder case in 2009 which was commuted to life term imprisonment by the High Court on 2014.last_img

Asian Streamer Viu Adds Wattpad Development Deal

first_imgMulti-territory Asian video streaming service Viu has struck an original content deal with tech-driven story firm Wattpad. Together they aim to develop film and TV series under the Viu Original label.Canada-based Wattpad hosts a vast library of user-generated stories, with a claimed user base of 80 million, including 22 million in the Asia Pacific region. Some stories have been developed into films, with Anna Todd’s “After” the best-known example. It accumulated a billion online views on Wattpad before being adapted into a film, directed by Jenny Gage, that with a $69.5 million global box office is one of the highest grossing indie movies of this year.Other companies in Asia that have struck similar deals with Wattpad include Sony Pictures Television, Mediacorp, and Huayi Brothers Korea. “Wattpad has its finger on the pulse of youth culture, and with this collaboration we are able to enable the youth to connect global audiences on Viu’s engaged base,” said Helen Sou, senior VP, digital media, at Viu’s parent company PCCW Media. Viu, which primarily focuses on premium Asian content, operates across 17 markets in Southeast Asia, the Middle East, India, and South Africa.Viu productions include an adaptation of global phenomenon, “The Bridge,” which is available on HBO Asia’s channels and services throughout Asia, and experimental regional format, “No Sleep, No FOMO.” Viu plans to have over 80 scripted and non-scripted Viu Original titles this year.PCCW owns Hong Kong’s leading pay-TV service NowTV, a recently-launched free to air channel and is the territory’s leading fixed line phone operator. It also owns a minority stake in STX Entertainment. Popular on Variety center_img ×Actors Reveal Their Favorite Disney PrincessesSeveral actors, like Daisy Ridley, Awkwafina, Jeff Goldblum and Gina Rodriguez, reveal their favorite Disney princesses. Rapunzel, Mulan, Ariel,Tiana, Sleeping Beauty and Jasmine all got some love from the Disney stars.More VideosVolume 0%Press shift question mark to access a list of keyboard shortcutsKeyboard Shortcutsplay/pauseincrease volumedecrease volumeseek forwardsseek backwardstoggle captionstoggle fullscreenmute/unmuteseek to %SPACE↑↓→←cfm0-9Next UpJennifer Lopez Shares How She Became a Mogul04:350.5x1x1.25×1.5x2xLive00:0002:1502:15last_img read more

Govt to come up with Jagannath temple in Digha

first_imgKolkata: Chief Minister Mamata Banerjee on Thursday announced that the state government would construct a Jagannath temple near Jagannath Ghat in Digha, which has already emerged as a major tourist destination.Banerjee was speaking at the administrative review meeting in East Midnapore. The Jagannath temple would be set up in the district along the footsteps of the temple in Puri, where large numbers of devotees congregate to offer their prayers. Also Read – Rain batters Kolkata, cripples normal life”We are going to construct a temple at Jagannath Ghat in Digha, similar to Puri. The ghat would also be renovated. The Jagannath temple that we see in Puri had been constructed many years ago. We are developing a temple here keeping it in mind,” the Chief Minister said. She instructed the state Tourism department to prepare a Detailed Project Report (DPR) after discussing the matter in detail with the district administration. It may be mentioned here that after coming to power, the Mamata Banerjee government had taken up a beautification drive in the beach town and along the sea shore. Since then, the footfall of tourists in Digha and other beach towns in the district has gone up significantly. Also Read – Speeding Jaguar crashes into Mercedes car in Kolkata, 2 pedestrians killedDuring her meeting with the administrative officials, Banerjee inquired about the latest status of the 3 marine bridges which she had proposed 3-4 years ago. The officials told her that the construction of two bridges would be started within one year, while the third one would take some time. The Chief Minister advised the Public Works Department (PWD) to start all the three projects simultaneously. She instructed the government officials to expedite the project. Banerjee announced that construction of the International Convention Centre at Digha would be completed within the next two months. She laid a great emphasis on the cleanliness of the place. She instructed the local administration to consider if the local Nuliahs (sea divers) can be inducted under the 100 days work scheme to maintain cleanliness of the beach town. “Digha has emerged to be one of the key tourist places in the state. A large number of people visit the place every day. Maintaining cleanliness must be the top priority. The Nuliahs who act as civic defense workers during any incident, can be engaged in two shifts for maintaining cleanliness,” she added. She also expressed her dissatisfaction over the overdue wages of the Nuliahs. She wanted to know from the administrative officials why they have not been getting money since September. They get a wage of Rs 300 per day and they work 25 days a month. “Those who save the lives of others risking their own, are not getting their wages. They should be brought under the Swasthya Sathi scheme. Take necessary steps to disburse their dues on immediate basis,” Banerjee told the district administration. She also stated that Tajpur port will be constructed at an estimated cost of Rs 12,000 crore, where various other ancillaries would come up, creating job opportunities. A fund of Rs 17,000 crore has already been invested for various projects in the district, while many others worth nearly Rs 8,600 crore are in the pipeline. She also inquired about the various fishery development schemes that are being run in the district. She proposed to set up a fish land bank and marketing centres where the fishermen can sell their catches. In reply to a question posed by state Transport minister Suvendu Adhikari, the Chief Minister asked the Home Secretary to expedite the investigation into the disappearance of people from Nandigram that took place during the Left Front regime. The CID has been investigating the case.last_img read more