GORAKHPUR: Uttar Pradesh Governor Ram Naik today said he has sought the sacking of cabinet minister Azam Khan for making comments against him in the state Assembly last month in which the latter had accused him of communally vitiating the atmosphere of the state at the behest of the Modi government.
“I have discussed with CM Akhilesh removal of Khan several times for his conduct and behaviour. When he returns from England we will talk again,” Naik told reporters here.
“The terminology used by Khan in the Assembly is condemnable. I’ve written to the CM for his removal from his ministry and informed Parliament. Doing this is my Constitutional right and duty also,” he said.
Earlier, the Governor had gone through the CD and script of Khan’s remarks on the floor of the House during discussions on March 8 and written to Speaker Mata Prasad Pandey.
@Agency report.
New Delhi : In yet another step aimed at reducing human interface between taxman and the taxpayer, the Income Tax department today operationalised a facility for e-filing of the first appeal before a tax officer.
The department said the facility of filing the appeal form, like filing Income Tax Returns (ITRs), can be done using a digital signature from now on, while the Electronic Verification (EVC) facility for the same using the Aadhaar, mobile number and email id will be activated soon on the official web portal of the tax department –http://incometaxindiaefiling.gov.in/.
The existing two-page document used for this, called ‘Form No. 35’, has been re-formatted by the department recently so that it can be electronically uploaded on the e-filing portal of the department.
In the new e-form, an applicant or taxpayer seeking appeal against an Assessing Officer’s order has been given an avenue to append ‘Statement of Facts’ in 1,000 words as also furnish the grounds of appeal in another 100 words.
Documentary evidence can also be appended to the new form by an assessee using the electronic internet-based facility.
The IT department has four stages of appeal mechanism for the assessees to put forth their grievance beginning with the Commissioner of IT (Appeals), the Income Tax Appellate Tribunal (ITAT), the High Court and finally the Supreme Court.
The new form is applicable for the CIT (Appeal) fora and those taxpayers who file e-returns will be eligible to use this new facility.
In view of launch of this facility and activation of a select category of ITRs today, the taxman has asked filers to “update their profile and select higher security option to secure their e-filing account” created over the portal.
The systems wing of the department will soon roll out detailed procedures for taxpayers to begin using this facility, a senior official said.
“Electronic filing of appeal along with the documents relied upon before CIT (Appeals) will remove human interface, reduce paperwork and decrease the transaction cost for the taxpayer. It would ensure consistent and error-free service as validations will be in-built, resulting in fewer deficient appeals. Online filing will also facilitate fixation of hearing of appeals electronically.
“The new format for filing of appeals is more structured, objective, systematic and aligned with the current provisions of the Income Tax Act,” the Central Board of Direct Taxes had earlier said.
With these changes, it had said, the “burden of compliance on the taxpayers in appellate proceedings will be significantly reduced.
@ Agency report.
London, Apr 2,2016 : The beleaguered Tata Steel may shut its British plants in six weeks if it does not find a buyer soon even as it is in talks to buy steel assets of one of German’s largest producers.
The Indian steel giant is only “going through the motions” of a sale and has privately given up hope of finding a white knight to rescue the loss-making unit and save 15,000 jobs, the Financial Times reported today, citing people familiar with the company’s internal plans.
“Tata Steel could mothball plants in as little as six weeks. They have to go through the motions. But if they have not found a buyer by the next board meeting at the end of April, they will close it and they are not expecting anyone to come forward now,” it said, citing a person.
The company is likely to appoint bankers to run through the sale process in the next few days.
The Daily Telegraph said Tata is in talks to buy the steel assets of one of Germany’s largest producers after quitting its operations in the UK. It has entered into discussions to merge its European business with ThyssenKrupp, to create one of Europe’s biggest industrial companies.
Tata Steel had in January announced laying off 750 workers in a desperate bid to salvage its ailing Port Talbot steel plant in South Wales – the UK’s biggest.
This week, Tata Steel announced plans to sell its entire UK business as the company battles to control its “deteriorating financial performance”, nine years after it had acquired Corus to become Europe’s second-largest steel maker.
The board of one of the world’s largest steelmakers met earlier this week to decide on the future course of action in a bid to steer its embattled operations in Europe out of the rut, which face supply glut, increase in cheap imports amid a continued weakness in demand in European markets.
The board noted with “deep concern the deteriorating financial performance of the UK subsidiary in the last 12 months”.
Tata acquired Corus, now Tata Steel Europe, in April 2007. The European behemoth was formed by a merger of British Steel and Dutch firm Koninklijke Hoogovens in 1999.
In its 2007-08 annual report, Tata Steel said it has completed the long-term financing programme for Corus acquisition.
Of the total enterprise value of USD 14.2 billion, at the close of Corus acquisition process on April 2, 2007, the financing included about USD 10.5 billion as bridge funding, the balance being applied out of Tata Steel’s own cash and borrowings.
However, shortly after the deal, an economic slowdown and continued weakness in European markets hit the company’s sales, from which the steel maker is still trying to recover.
While the global steel demand, especially in developed markets like Europe remained muted following the financial crisis of 2008, trading conditions in the UK and Europe have rapidly deteriorated more recently.
This is mostly due to structural factors such as global oversupply of steel, increase in third-country exports into Europe, high manufacturing cost, continued weakness in domestic steel demand and a volatile currency.
@ Agency report.