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The Supreme Court on Tuesday agreed to examine the Centre's plea challenging a Bombay High Court verdict that struck down amendments to Information Technology Rules aimed at regulating fake and false content posted on social media against the government. The top court did not stay the 2024 High Court verdict, which struck down the amended Information Technology Rules and termed them "unconstitutional", even as a three-judge bench of Chief Justice of India Surya Kant and Justices R Mahadevan and Joymalya Bagchi issued notices to the original petitioners, including stand-up comedian Kunal Kamra, the Editors Guild of India, and the Association of Indian Magazines. The High Court struck down the rules amended in 2023 to empower the central government to establish a Fact-Check Unit (FCU) to identify "fake, false, or misleading" information regarding "government business" on social media. If the FCU flagged content under those rules, social media intermediaries such as X, Facebook, or ...
The Income Tax department on Monday invited public inputs for review of the six-decade old I-T Act with regard to simplification of language, litigation reduction, compliance reduction, and obsolete provisions. Pursuant to the Budget announcement by Finance Minister Nirmala Sitharaman for a comprehensive review of the Income-tax Act, 1961, the Central Board of Direct Taxes (CBDT) had set up an internal committee to oversee the review and make the Act concise, clear, and easy to understand, which will reduce disputes, litigation, and provide greater tax certainty to taxpayers. "The committee invites public inputs and suggestions in four categories: simplification of language, litigation reduction, compliance reduction, and redundant/obsolete provisions," the CBDT said. A webpage on the e-filing portal -- https://eportal.incometax.gov.in/iec/foservices/#/pre-login/ita-comprehensive-review -- has been launched and the public can access the page by entering their mobile number and ...
The Supreme Court on Friday transferred to the Delhi High Court a batch of pleas pending before different high courts across the country challenging the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021. A bench of Justices Hrishikesh Roy and Prashant Kumar Mishra noted that several petitions were pending on the issue before different high courts including Karnataka, Madras, Calcutta, Kerala and Bombay high courts. "In order to avoid contradictory judgments, the Union of India would wish to have all matters consolidated for analogous hearing. Since a large number of these cases are pending consideration before the Delhi High Court, we deem it appropriate to transfer the matters in various HCs to the Delhi HC," the bench said. The top court directed that all relevant paper books shall be transferred by the high courts to the Delhi High Court within four days. The apex court passed the order on a transfer petition moved by the Union of India f
Representatives of traders' body CAIT on Wednesday met Finance Minister Nirmala Sitharaman and demanded that implementation of a clause in Income Tax Act related to MSMEs payment rule be deferred by a year to April 2025. In a release, Confederation of All India Traders (CAIT) said a delegation led by its Secretary General Praveen Khandelwal conveyed the traders' concerns to the finance minister and suggested a solution during the meeting. In its memorandum, CAIT welcomed the government's decision, highlighting the significance of ensuring timely payments to the MSME sector within 45 days to maintain uninterrupted cash flow for traders. However, given the "lack of clarity" surrounding the applicability of the law to traders and other related provisions, CAIT called for suspension of implementation of Section 43 (b)h of the Income Tax Act until sufficient clarification and information dissemination are achieved nationwide. "CAIT further appealed to the government to postpone the ...
Zydus Lifesciences on Tuesday said its arm Zydus Healthcare Ltd has been served an income tax notice demand of Rs 284.58 crore for for the assessment year 2023-2024. Zydus Healthcare Ltd (ZHL), a wholly-owned subsidiary, has received an intimation under section 143(1) of the Income Tax Act, 1961 (IT Act), determining demand of Rs 284.58 crore, Zydus Lifesciences said in a regulatory filing. The intimation is for the assessment year 2023-2024 from the CPC, Income Tax Department, it added. The demand is determined due to "apparent mistakes while processing its return of income", it said. "The company strongly believes that once the rectification will be made, the entire demand will be deleted," Zydus Lifesciences said. ZHL has already disagreed with demand on the e-filing portal of the Income Tax Department. It is also going to file Rectification Application under section 154 of the IT Act, before the CPC as well as before the Jurisdictional Assessing Officer against the said ...