FINER has welcomed the recent Supreme Court judgment providing major relief to the north eastern industries. In a statement issued in Guwahati on Saturday, the business chamber said that the judgment would end an ambiguity.
A division bench of the Supreme Court comprising Justice Kurian Joseph and Justice Rohinton Fali Nariman dismissed the revenue’s appeal against the judgment of Gauhati High Court allowing tax exemption on operational subsidies.
The Gauhati High Court in the case of C.I.T. V/s. Meghalaya Steels Ltd. had held that various subsidies such as transport, power, interest & insurance given to the industries of the NER were operational subsidies and would qualify for deduction U/s.80IB/80IC of the Income Tax Act, 1961.
Upholding the judgment of the Gauhati High Court, the Supreme Court has held that all these subsidies are revenue receipts which are reimbursed to the assessees for elements of cost relating to manufacture and sale of their products. Therefore, there was a direct nexus between the profits and gains of the industrial undertaking and reimbursement of such subsidies.
The Supreme Court has thus put an end to the controversy which was pending since last 10-12 years and has threatened the very existence of industries of the region. P. Chidambram, Senior Advocate and Ex-Finance Minister, S. Ganesh, Senior Advocate, Ramesh Goenka, Amit Goenka and Kavita Jha advocates appeared for the assessees and i Radhakrishnan Senior advocate represented the Revenue.
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Gujarat Chief Minister Narendra Modi’s speech will gave the people a new ray of hope if a section of youths are to be believed.“I think he should be given a term to prove what he promised today,”...
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Popular Ghazal Singer Pandit Ghansham Vaswani enthralled the audience with some of his popular Ghazals at Akashvani Sangeet Sammelan hosted by All India Radio, Guwahati at Pragjyoti ITA Centre,...
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Mahadev Deka, who recently clinched the title in the bantam weight category for India at the 2009 Musclemania Superbody world championship at Florida, US, got warm welcome when he arrived at the...
In a celebration of literary heritage and a significant milestone, the Assam Publishing Company has released the long-awaited second edition of Anatole France's "Thais" in Assamese. The reissue of this classic comes exactly 59 years after its initial publication, bringing the timeless themes of love, temptation, and redemption to a new generation of readers.
Golok Chandra Datta, an esteemed translator hailing from the region, skillfully translated the renowned French author Anatole France's work. This translation marks a crucial milestone in Datta's career as it represents his inaugural published translation effort. The translation aims to convey the depth and beauty of the original...
Guwahati, 23 September 2023: Assam Don Bosco University celebrated its 12th Convocation on Saturday, 23rd September, 2023, at Tapesia Campus Sonapur, Guwahati. The esteemed gathering included the Hon’ble Governor of Assam, Shri Gulab Chand Kataria, who graced the occasion as the university's visitor, along with Vice Chancellor Fr. (Dr) Jose Palley, Pro Vice Chancellor Fr. Joseph Nellnatt, Directors of Schools, Heads of Departments, faculty members, students, and dignitaries from across the country.
Addressing the graduating students, Shri Gulab Chand Kataria encouraged them to contribute meaningfully to society, emphasizing the importance of innovation and dedication in shaping a better...
Golaghat: Last Wednesday, an insightful sensitization workshop addressing the detrimental effects of tobacco use was organized at the conference hall of the District & Sessions Judge’s office in Golaghat. The event witnessed the presence of key figures in the fight against tobacco consumption, including Secretary of DLSA Golaghat, Smt. JyotiSmita Sarma, Dr. Sunita Ekka from District Tobacco Control Cell, Golaghat, and Rudhir Prakash Sarma, Divisional Coordinator of Upper Assam Division from The UNION. Officials from the DLSA office and the health department also actively participated.
The workshop commenced with a warm welcome address, followed by an insightful discussion on the...
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Launched in 2016, Ek Prithvi focuses on fostering environmental awareness, knowledge, and the skills required for conservation among students. It has already made a profound impact, reaching out to over 145,200 students across 11 states. When the pandemic struck, Ek Prithvi adapted with the "One Earth One Home" program,...
Dibrugarh - The North-East Affected Area Development Society (NEADS) and the Environmental Forum of Assam, in collaboration with the Centre for Social Work Studies at Dibrugarh University, successfully hosted a two-day 'People's Dialogue on Development Discourse in North East India' from August 28th to 29th. The event, held at the Vikshan conference hall of Dibrugarh University, gathered a diverse group of regional stakeholders to engage in insightful conversations aimed at reshaping development approaches in the North-East.
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Under the guidance of Jahnabi Phookan, the Past National President of FICCI FLO, who serves as the initiator and advisor, and Swapnanil Barua as President, DCNE is poised for a new era of cultural enrichment.
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Football betting is one of the most popular forms of gambling, with millions of people around the world placing wagers on their favorite teams and players. Unfortunately, football betting can be a tricky business, and it’s easy to get caught up in the excitement and anticipation that comes along with it. For those who are looking to maximize their chance of success when it comes to football bets, some key strategies can help you stay ahead of the odds.
Understand Statistics
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Cultural...
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The press release highlighted the arrests of Pushpanjali Gohain and Hem Chetia, who were found in possession of Rs 3 lakh and accepting donations, respectively, on behalf of "United Liberation Army, Assam [Independent]." The ULFA-I clarified that they have no connection with these individuals and their actions, asserting that the organization does not involve women in such...
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