TP - Mere dissatisfaction with factual findings of ITAT regarding selection of comparables after application of quantitative/qualitative filters cannot be contested u/s 260A: HC (See 'TOG Latest')I-T - Assessee is eligible to claim exemption u/s 54 where possession of flat held by him since date of allotment is handed over & capital gain is paid on transfer of property 'held': ITAT (See 'TOG Latest')Customs - Classification of imported goods cannot be decided based on internet search results when Department could have obtained expert opinion or technical write-up: CESTAT (See 'TOG Latest')Central Excise - Demands cannot be raised under rent-a-cab service where Department is unable to prove that vehicle was capital goods of assessee & was registered in its name: CESTAT (See 'TOG Latest')ISA - India to host first general conclave (See 'TOG News')New convention & expo centre to reflect economic progress: Modi (See 'TOG News')TP - When agreement between two resident companies does not provide for any markup on total cost then no addition is permitted by applying margin of international transactions: ITAT (See 'TOG Latest')I-T - If interest income does has no direct link with eligible business or business activity then it can be considered for deduction claimed u/s 80IB & 80IC: ITAT (See 'TOG Latest')Central Excise - Cenvat credit be availed on supplementary invoices rasing demand for 'royalty charges' & 'stowing excise duty', 'paryavaran upkar', 'vikas upkar', 'forest fee' & 'Entry tax': CESTAT (See 'TOG Latest')Service Tax - Extended period of limitation cannot be invoked where issue of taxability of commission received from banks was contested during period of dispute: CESTAT (See 'TOG Latest')Govt launches Swachhata Hi Seva campaign to promote cleanliness (See 'TOG News')Govt launches Swachhata Hi Seva campaign to promote cleanliness (See 'TOG News')Delhi Govt inks pact with Seoul for better infrastructure & public health (See 'TOG News')Govt launches star rating based on efficient energy use (See 'TOG News')DTAA - Tax Residency Certificate constitutes sufficient evidence for accepting status of residence as well as beneficial ownership for seeking treaty benefits: ITAT (See 'TOG Latest')I-T - Pre-deposit of duty demanded from cooperative institution can be waived off considering that its members come from marginal sections of society: ITAT (See 'TOG Latest')Customs - Duty exemption under Notfn No 46/2006-Cus can be denied where entire quantity of imported goods were not used to manufacture final product: CESTAT (See 'TOG Latest')Central Excise - Cenvat credit cannot be allowed on Outdoor Catering service which is utilized for personal use by employees & has no nexus with manufacture of final product: CESTAT (See 'TOG Latest')
Tax on Go
Budget 2015
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NTPC considers exporting electricity & unlocking full domestic demand
By TOG News Service
Feb 13, 2018

 TOG News Service, BENGALURU, FEB 13, 2018: THE Union Minister for Power and New and Renewable Energy, Mr R.K. Singh, today inaugrated a three-day symposium on operations and maintenance on Indian power stations. The conference is titled as the ‘Indian Power Stations 2018', and addressing the gathering at its inaugration, Mr Singh exhorted the National Thermal Power Corporation (NTPC) to rise and become a leading power producer. He further pointed towards a huge opportunity for the NTPC in exporting power to neighboring countries at cheap rates.

Further elaborating on the subject, Mr Singh stated that neighbouring countries like Sri Lanka, Myanmar, Nepal and Bangladesh were viable markets for export of power, where per unit cost of electricity is very high. He further stated that the Ministry of Power would explore the idea of sending teams to these countries to assess the demand for export of power. He also talked about efforts to achieve the aim of the Government to provide electricity 24x7 for all the people. In this regard, he stated that considering the entire power sector, the demand had been suppressed because not everyone had access to electricity. Thereby he stated that what was seen as excess capacity in the present day would not be so, if the entire demand was unlocked. He also touched upon the subject of coal and stated there to be no shortage of it. He did however, acknowledge the urgent need to ensure that all the coal produced reached the power stations. This may be seen as a cue to tackling issues like coal theft and pilferage.

Further, the Minister added that when all power plants in the country would run at 70-80 per cent of PLF, there would be no stressed assets. The problem of stressed assets occurred because the power plants did not receive adequate coal and that the potential demand needed to be unlocked. Expounding his views on the status of renewable energy in the country, Mr Singh stated that the progressive realization of low prices of renewable energy is sending wrong signals to the market. Mr Singh also stated that the consumers and DISCOMs needed to understand that this cheap renewable power by itself is not sufficient and needed rebalancing with support of steady power.