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
Click the banner to download Documents


Carpet expo brings revenue of about Rs 306 cr
By TOG News Service
Mar 12, 2018

TOG News Service, NEW DELHI, MAR 12, 2018: THE chairperson of Indian Carpet Export Promotion Council (CEPC), Mr Mahavir Pratap Sharma, stated that the 35th India Carpet Expo organized in New Delhi between March 8-11, 2018 had generated on the spot business of Rs 306 Crores. He further stated that over 2408 enquiries were received, which would further generate income of about Rs 100 Crores.

Mr Sharma further stated that the expo would result in opening up of new market opportunities for the industry, thus helping small and medium Indian carpet exporters to promote their products abroad. This would eventually project the agenda of 'Make in India' on a broader scale in overseas markets. He also praised the carpet expo, as being an ideal platform for international carpet buyers, house buyers and agents, architects, carpet manufacturers and exporters, to converge and establish business relationships. Mr Sharma also drew attention to the fact that about 60 countries participated in the expo.

The CEPC showcased products from more than 260 reputed small, medium and large manufacturer exporters from several states, such as U.P., Rajasthan, Haryana, Jammu and Kashmir, Punjab, Madhya Pradesh, Himachal Pradesh and Andhra Pradesh. Besides, it was stated that about 300 overseas carpet buyers visited the expo to generate business for this rural-based cottage sector. The Council endeavored to provide exclusive business environment to the both carpet importers as well as manufacturer-exporters, which ultimately would benefit about 2 million weavers and artisans employed in this highly labour intensive rural based MSME cottage industry.

Thereby, Mr Sharma also stated that this event would benefit those medium and small exporters who could not afford to display their products in overseas exhibitions, while also showcasing Indian capability to produce and supply quality products in time. He also expressed his praise for the men and women who worked untiringly to ensure that the expo was a success.