KCS-content Major Actelion investor backs board over activist by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStorySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesMoneyPailShe Was An Actress, Now She Works In ScottsdaleMoneyPailDrivepedia20 Of The Most Underrated Vintage CarsDrivepediaLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsBetterBeDrones Capture Images No One Was Suppose to SeeBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comSenior Living | Search AdsNew Senior Apartments Coming Nearby Scottsdale (Take a Look at The Prices)Senior Living | Search Ads whatsapp Monday 18 April 2011 8:46 pm More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.com Share Show Comments ▼ whatsapp ACTIVIST hedge fund Elliott Advisors suffered a setback in its battle with Swiss biotech company Actelion yesterday after a major shareholder backed the firm’s board.BB Biotech, which holds almost five per cent of Actelion’s shares, said it would back all the board’s proposals in the annual meeting on 5 May. It means about 15 per cent of Actelion’s shareholders now publicly favour the board, after 5.5 per cent shareholder Rudolf Maag voiced his support last month.“We have managed our investment in Actelion actively over many years and have enjoyed excellent returns,” Zurich-based BB Biotech, a pure-biotech investor, said in a statement.BB Biotech admitted it had been “disappointed” by the results of some past decisions taken by the board. “But we have never doubted the competence of Actelion’s scientists, the commitment of their management or the veracity of their board,” it said. “We won’t change our minds now.” Elliott, which holds around seven per cent of the firm, wants seven members of the board to step down, including founder Jean-Paul Clozel, and six directors of its choice to join. It has complained of poor corporate governance, criticised Actelion’s drug pipeline and demanded a strategic review viewed widely as a call for a sale or merger with another firm Tags: NULL
Last month Star Entertainment Group was fined $90,000 by the state’s Independent Liquor & Gaming Authority for three separate incidents of underage gambling at its Sydney Casino. In July a record $200,000 fine was issued to a club for failing to protect a problem gambler who later committed suicide. Topics: Social responsibility Responsible gambling The New South Wales government has launched a consultations on a series of proposed changes to help clubs and hotels in the Australian state minimise gambling harm and support customers that suffer problems with their play. This will be underpinned by a new state-wide self-exclusion register, meaning all exclusions are managed centrally, and ensure problem gamblers are unable to move from venue to venue. Any winnings from self-excluded or underage players that manage to gamble will be forfeited to the state’s Responsible Gambling Fund. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletter Responsible gambling Venues would also be required to record any incidents related to gambling, and record them on an incident register. This brings gambling in line with liquor in the state, where a similar measure is already in place. The changes are set out in the Gaming Machines Amendment (Gambling Harm Minimisation) Bill 2020, an update to the 2001 Gaming Machines Act. Upon self-excluding, venues must suspend the player’s account and any reward scheme membership, as well as refunding their balances and automatically referring them to counselling services. NSW begins consultation on new player protection regulations Efforts to tighten player protection regulations in New South Wales come in the wake of a number of high profile incidents in the state. New penalties will also be imposed on venues for a number of offences, such as publishing gaming machine advertising, failing to provide activity statements to patrons or installing cash dispensers that allows customers to gamble on credit. The minimum fine rises from AU$11,000 (£6,089/€6,669/US$7,787) to a maximum of $27,500 under the Gaming Machines Amendment (Gambling Harm Minimisation) Bill. 25th September 2020 | By Aaron Noy The government is accepting public comments on the proposed legislation until 30 October. Should the bill pass into law, clubs and hotels would be required to actively identify and assist gaming machine players displaying problem gambling behaviour, rather than only taking action when they specifically ask for help. Self-exclusion, meanwhile, would be tightened up by allowing players to block access to gambling through an online portal, rather than requiring them to visit individual venues to block access. Gamblers will also be able to self-exclude for shorter periods, rather than the current minimum six month period. Regions: Oceania Australia To ensure these players are identified, a person that has completed Liquor & Gaming NSW’s advanced Responsible Conduct of Gambling training must be on duty when machines are being used, to monitor customer activity. Email Address This will be complemented by a new exclusion scheme whereby family members will apply to have a hotel or club ban someone whose problem gambling behaviour is causing harm to themselves or others. The venues will need to refer these people to counselling services before they can complete the application, and a decision must be made within 21 days of the request being lodged. Venues can also use this new scheme to involuntarily exclude those they feel are gambling unsustainably.
Zimplow Holdings Limited (ZIMW.zw) listed on the Zimbabwe Stock Exchange under the Engineering sector has released it’s 2014 presentation results for the half year.For more information about Zimplow Holdings Limited (ZIMW.zw) reports, abridged reports, interim earnings results and earnings presentations, visit the Zimplow Holdings Limited (ZIMW.zw) company page on AfricanFinancials.Document: Zimplow Holdings Limited (ZIMW.zw) 2014 presentation results for the half year.Company ProfileZimplow Holdings Limited manufactures and markets a diverse range of products for the construction, infrastructure and agricultural sectors in Zimbabwe. It also manufactures and distributes metal fasteners for the mining, construction and agricultural sector, and has interests in property management and leasing. The Farming division consists of three business units; Mealiebrand, Farmec and Afritrac which oversee the manufacturing of animal-drawn equipment and tractors, and spare parts for agricultural equipment. The Mining and Infrastructure division manufactures and distributes mining equipment, spare parts and related products through four divisions; Barzem, Mealie Brand, CT Bolts and Farmec. Zimplow Holdings Limited is a marketing and distribution agent in Zimbabwe for Massey Ferguson, Valtra, Caterpillar, Perkins, Falcon, Challenger, Vicon and Monosem. Zimplow Holdings Limited is listed on the Zimbabwe Stock Exchange
Sterling Bank Plc (STERLN.ng) listed on the Nigerian Stock Exchange under the Banking sector has released it’s 2020 abridged results.For more information about Sterling Bank Plc (STERLN.ng) reports, abridged reports, interim earnings results and earnings presentations, visit the Sterling Bank Plc (STERLN.ng) company page on AfricanFinancials.Document: Sterling Bank Plc (STERLN.ng) 2020 abridged results.Company ProfileSterling Bank Plc is a financial services institution in Nigeria offering banking products and services to the corporate and commercial sectors as well as high net-worth individuals, small businesses and joint venture partnerships. The company provides a full-service offering for consumer and commercial banking as well as corporate, investment and wholesale banking. This includes loans and advances, letters of credit, equipment leasing, money market operations and electronic banking as well as financial advisory and securities trading services. The company was founded in 1960 and formerly known as NAL Bank Plc. Its head office is in Lagos, Nigeria. Sterling Bank Plc is listed on the Nigerian Stock Exchange
ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/782771/grunberger-noa-star Clipboard Grünberger / noa* network of architecture Houses Italy Projects CopyHouses, Extension•Bolzano, Italy Architects: noa* network of architecture Year Completion year of this architecture project Photographs Grünberger / noa* network of architectureSave this projectSaveGrünberger / noa* network of architecture Save this picture!© Alex Filz+ 30 Share 2012 Year: “COPY” ArchDaily “COPY” ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/782771/grunberger-noa-star Clipboard Photographs: Alex FilzSave this picture!© Alex Filz”Old meets new”noa* (network of architecture) completes a traditional urban residential house and adds a contemporary volume, which grows into the vineyards of Gries.“…the material penetration of the old and the new create a field of confrontation of the generations – an untamed urge for transformation…”Stefan RierSave this picture!© Alex FilzIn the vineyard area of Bolzano (IT), a dwelling house for a butcher family is enlarged; the existing traditional volume is extended with a open and modern structure. The site, which is protected, is located in an urban transition zone in between the building development of the outskirts of the city and the denser building development around the area of the Griserplatz.Save this picture!© Alex FilzThe house is divided into two apartments, which are made accessible with a prominent outdoor stair from the courtyard. The new volumes have a view into all directions, with idyllic vineyards and the characteristic ‘Guntschnaberg’ in the West.Save this picture!First Floor PlanThe aim was to respect the proportions of the historic building. Therefore the Villa with a pitched roof and classic window openings was amplified with a compact building volume with consistent window cluster and generous openings.Save this picture!© Alex FilzThe apartments are organised in the way that more intimate spaces are located in the historic part of the house while the living spaces are located in the modern part with a view to south and west.Save this picture!Section AAFacade with depth.The diverse formal language of the two building parts create a tension, which is underlined by the finish of the facade: the historic part obtained a white chalked up plaster, the extension competes with a dark-red plaster. The colouring of the plaster itself instead of a coat of paint at the top gives a stoic depth.Save this picture!© Alex FilzThe two exterior stairs at the north and south facade are made of blackened natural steel and appear as sculptural bridges. The big square façade openings have textile shadow elements, which give a diffuse fog.Save this picture!© Alex FilzProject gallerySee allShow lessAL_A Wins Competition to Design Abu Dhabi MosqueArchitecture NewsFrank Gehry Wins 2016 Annenberg AwardArchitecture News Share CopyAbout this officenoa* network of architectureOfficeFollowProductsWoodSteelConcrete#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitectureHousesRefurbishmentExtensionKlausenBolzanoItalyPublished on March 02, 2016Cite: “Grünberger / noa* network of architecture” 02 Mar 2016. ArchDaily. Accessed 11 Jun 2021.
ArchDaily ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/932518/3-in-1-house-satoshi-toda-architects Clipboard “COPY” Japan “COPY” ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/932518/3-in-1-house-satoshi-toda-architects Clipboard 3 in 1 House / Satoshi Toda Architects Manufacturers: Aica, Daiko, Toto, Acor, Sanwacompany, Tanita Save this picture!© Yohei Sasakura+ 19Curated by Hana Abdel Share Satoshi TODA Lead Architects: Area: 143 m² Year Completion year of this architecture project Architects: Satoshi Toda Architects Area Area of this architecture project City:NishinomiyaCountry:JapanMore SpecsLess SpecsSave this picture!© Yohei SasakuraText description provided by the architects. Housing for a couple and two miniature dachshunds. In addition to their residence, they needed a hair salon, their workplace, and a storage space for several motorcycles and their maintenance space (hobby room). Creating a “face” as a store was also one of the requests.Save this picture!© Yohei SasakuraThe site was located at a location between the urban and residential areas. The original site was too small for the request, so we rented a portion of the garden from adjacent parents’ homes and re-established the boundaries as much as possible. As a result, the theme was how to plan three spaces with different characteristics on the site with the deformed L-shape.Save this picture!© Yohei SasakuraSave this picture!Ground floor plan / 1st floor planSave this picture!ElevationSave this picture!© Yohei SasakuraThe house is on the second floor. A light garden is set in the center of the living space to provide brightness and excursion. By arranging rooms so that the privacy gradually increases from the entrance to the bedroom, the structure is designed to be able to respond smoothly to visitors.Save this picture!© Yohei SasakuraOn the first floor, an entrance was set up at the right angle of the L-shape, with a store on one side and a hobby room on the other. The store has a large opening that allows you to look inside, and it can be used as a sliding door to allow motorcycles to enter and exit the hobby room.Save this picture!© Yohei SasakuraIn order to make the exterior look like a store, we did not provide any general shaped openings on the sidewalk. Instead, a high-side light for lighting was planned, but due to regulations, the roof shape swelled upward and the opening had a sharp angle. Therefore, by applying this shape as a motif to the opening shape of the store part, the facade surrounding the three spaces is given an overall unity. At the same time, we intended to obtain the characteristics of the store’s “face”.Save this picture!© Yohei SasakuraThrough the dialogue, it was found that a clear division of the three spaces was desired. It was not the lively state expected of mixed use, but a tranquil relationship that fulfilled each purpose. Therefore, it was set up as an independent space, but I noticed that its composition was very functional. Therefore, each space was given a spatial personality, and the aim was to make the appeal of each place permanent. Specifically, the space is differentiated by using the level difference created by the requirement of the external shape and the internal space according to the regulations, and the openness created by the opening. Then, by applying a finish appropriate to the original purpose in each space, three unique spaces were included in one volume.Save this picture!© Yohei SasakuraThe landlord freely moves between the boundaries of each space, and enjoys a life of work + housing + hobby. By combining the independence of space with the convenience of being in the same place, the building potentially has multiple timelines, including the future. I think that there is one possibility as a modern urban house there.Save this picture!© Yohei SasakuraProject gallerySee allShow less8-23-VI Pavilion / MediumSelected ProjectsJINYI Cinema / One Plus PartnershipSelected Projects Share Photographs: Yohei Sasakura Manufacturers Brands with products used in this architecture project Photographs Mixed Use Architecture Year: Projects 3 in 1 House / Satoshi Toda ArchitectsSave this projectSave3 in 1 House / Satoshi Toda Architects CopyMixed Use Architecture, Healthcare Architecture, Houses•Nishinomiya, Japan 2018 CopyAbout this officeSatoshi Toda ArchitectsOfficeFollowProductsWoodSteel#TagsProjectsBuilt ProjectsSelected ProjectsMixed Use ArchitectureHealthcare ArchitectureResidential ArchitectureHousesNishinomiyaOn FacebookJapanPublished on January 26, 2020Cite: “3 in 1 House / Satoshi Toda Architects” 26 Jan 2020. ArchDaily. Accessed 10 Jun 2021.
Howard Lake | 14 October 2016 | News AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis1 About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving. IoF’s first Trustees and Fundraising Conference Tagged with: Institute of Fundraising regulation trustees Advertisement [View the story “Trustees and Fundraising Conference” on Storify] 125 total views, 1 views today 126 total views, 2 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis1 Last week the Institute of Fundraising held its first Trustees and Fundraising Conference.It followed a period of over a year of challenges for many trustees as they sought to respond to the new and developing regulatory framework affecting fundraising, and their own increased responsibilities in this area in the form of the revised CC20 guidance from the Charity Commission.The Institute used its conference to unveil its new practical handbook for trustees, produced in partnership with NCVO, ACEVO and CFG.The Institute has summarised the discussions and content of its inaugural conference below.
US journalist held in Yangon prison notorious for torture Organisation RSF_en News Receive email alerts May 26, 2021 Find out more RSF asks Germany to let Myanmar journalist Mratt Kyaw Thu apply for asylum Follow the news on Myanmar News Reporters Without Borders and the Burma Media Association are outraged by the methods being used by the military government to prevent the media from freely covering the views and activities of the supporters of a No vote in a 10 May referendum on a new constitution.”The military government is stopping at nothing to rig a referendum that looks as though it is going to be a sham rather a free and transparent election,” the two partner organisations said. “The supporters of a No vote must be able to express themselves freely in the media, and journalists must be allowed to report all viewpoints.”The organisation added: “We ask the Burmese authorities to let the press do its work without prior censorship and to allow foreign reporters to visit Burma freely. This is a condition for the international community’s recognition of the validity of this election.”No Burmese media have been allowed to publish the views of the supporters of No vote. The state and privately-owned media have instead been forced to published articles drafted by official calling for a vote in favour of the military government’s proposed new constitution. The election manuals that have been distributed make no provision for press coverage of the campaign and the polling.The slogans being used in the military government’s propaganda are “Approving the constitution is a duty for the entire population,” “To ratify the constitution, go and vote Yes,” “We will always remain united despite those who try to divide us – vote Yes” and “Democracy cannot be attained through anarchy and violence, but through the constitution.”These slogans are constantly being broadcast by the government TV and radio stations. Meanwhile, the Censorship Bureau is rejecting articles by journalists such as Ludu Sein Win criticising the constitution. According to sources in Rangoon, the intelligence services have drawn up a list of 34 journalists to be kept under surveillance in the run-up to the referendum.Pro-military journalists have been mobilised to explain the virtues of the new constitution. For example, an article by Si Thu Aung entitled “New Constitution and Union system” in The New Light of Myanmar daily on 1 April claimed that it was the only one capable of guaranteeing stability and development in a country made up of minorities. The same newspaper is also providing the campaign activities of government officials and the pro-government USDA militia with extensive coverage.Opposition leader Aung San Suu Kyi’s party, the National League for Democracy (NLD), has called for a No vote and has described the proposed constitution – which would endorse the army’s political role and guarantee its impunity – as anti-democratic. The NLD insists that the No campaign does not violate a recently-promulgated law providing for three-year prison sentences for anyone caught distributing documents opposing the referendum.The NLD’s views are being systematically censored by the press. But the accredited correspondents of foreign news agencies have been able to report on the tension surrounding the campaign.Several dozen NLD members have been arrested for campaigning for a No vote. In one case, six were arrested at their home in Rangoon on 31 March, four days after organising a demonstration in the capital calling for No vote.At least 60 people were arrested in the northern state of Rakhine at the start of April for wearing T-shirts calling for a No vote. Several of them are reportedly still detained. According to Mizzima News, T-shirt vendors in Rangoon stopped offering clothes displaying the Thai brand name Nobody after young pro-democracy activists started using them in their No campaign.The Burmese rap singer Yan Yan Chan was meanwhile arrested in Monywa on 17 April, possibly because of lyrics in some of his songs referring to the lack of press freedom. MyanmarAsia – Pacific Help by sharing this information MyanmarAsia – Pacific Thai premier, UN rapporteurs asked to prevent journalists being returned to Myanmar News May 31, 2021 Find out more News Reporters Without Borders and the Burma Media Association are outraged by the methods being used by the military government to prevent the media from freely covering the views and activities of the supporters of a No vote in a 10 May referendum on a new constitution. April 24, 2008 – Updated on January 20, 2016 Press forbidden to refer to campaign for a No vote in referendum on new constitution to go further May 12, 2021 Find out more
Linkedin Twitter Limerick Ladies National Football League opener to be streamed live Print Previous articleLimerick Man Launches new HR Tech CompanyNext articleThree months of diversion in Adare David Raleigh RELATED ARTICLESMORE FROM AUTHOR LimerickNewsClinicians must give go-ahead for patients to be moved from UHLBy David Raleigh – January 26, 2020 786 Billy Lee names strong Limerick side to take on Wicklow in crucial Division 3 clash Senator Kieran O’Donnell at St John’s Hospital.PATIENTS will only be transferred from the consistently overcrowded University Hospital Limerick (UHL) to vacant beds at the nearby St John’s Hospital only when it is deemed safe to do so.Fine Gael Senator Kieran O’Donnell said he was informed there were ten vacant beds this morning at St John’s on Monday morning when there were 50 patients waiting for beds at UHL.Sign up for the weekly Limerick Post newsletter Sign Up Both are managed by the UL Hospitals Group, which also includes the University Maternity Hospital Limerick; Mid Western Regional Hospital, Ennis; Nenagh General Hospital; and Croom Orthopaedic Hospital.Of the 50 patients awaiting beds at UHL, 23 were on trolleys in the emergency department and 27 on trolleys on wards.Senator O’Donnell said he contacted the UL Hospitals Group asking management to confirm if transfers would take place to St John’s to take up the ten vacant beds.He said management later informed him that the vacant beds would be filled if the clinicians deemed it safe to transfer the patients,otherwise they would be filled through St John’s Medical Assessment Unit (MAU).However, a UL Hospitals Group spokesman told the Limerick Post on Monday evening that there were six beds available at St John’s Hospital at 8am that morning.“As occurs every day, patients from UHL will be transferred to St John’s following a clinical decision and in line with national policy on which patients are appropriate to be cared for in Model 2 hospitals.”“At 11am this morning, there were three patients identified for transfer. St John’s Hospital, as is the norm, will have admissions from their own medical assessment unit which is fully operational today.”“Where patients are identified as suitable for an inter-hospital transfer, that transfer is only effected once all the necessary arrangements have been agreed between the clinical teams and bed management at both the transferring and receiving hospital.”“On a typical day at UL Hospitals Group, approximately 15 patients are transferred from UHL to the Model 2 hospitals at St John’s, Ennis and Nenagh,” the spokesman added.On Sunday, Tanaiste Simon Coveney promised Fine Gael would “fix the trolley crisis by making further investment in beds and staff”.Speaking outside Thomond Park, Mr Coveney told reporters: “Because of a strong growing economy, we now can make realistic financial commitments to add extra beds, extra staff into the system, and fix, once and for all, the accident and emergency pressures we are seeing in Limerick.”A 60-bed modular unit is currently being built on the grounds of UHL, and management has sought a further 96-bed unit. WATCH: “Everyone is fighting so hard to get on” – Pat Ryan on competitive camogie squads WhatsApp Donal Ryan names Limerick Ladies Football team for League opener Limerick’s National Camogie League double header to be streamed live Email Facebook TAGSKeeping Limerick PostedlimerickLimerick Post Predictions on the future of learning discussed at Limerick Lifelong Learning Festival Advertisement
Top StoriesSC Allows NDTV’s Appeal To Quash Income Tax Re-Assessment Notice [Read Judgment] LIVELAW NEWS NETWORK3 April 2020 4:29 AMShare This – xIn a major relief to media company New Delhi Television Ltd (NDTV), the Supreme Court on Friday allowed its appeal to quash the notice issued by the Income Tax Department seeking to re-open it income assessment for the financial year 2007-08.The assessing officer had issued notices to NDTV under Section 148 of the Income Tax Act on the ground of escapement of income from assessment and…Your free access to Live Law has expiredTo read the article, get a premium account.Your Subscription Supports Independent JournalismSubscription starts from ₹ 599+GST (For 6 Months)View PlansPremium account gives you:Unlimited access to Live Law Archives, Weekly/Monthly Digest, Exclusive Notifications, Comments.Reading experience of Ad Free Version, Petition Copies, Judgement/Order Copies.Subscribe NowAlready a subscriber?LoginIn a major relief to media company New Delhi Television Ltd (NDTV), the Supreme Court on Friday allowed its appeal to quash the notice issued by the Income Tax Department seeking to re-open it income assessment for the financial year 2007-08.The assessing officer had issued notices to NDTV under Section 148 of the Income Tax Act on the ground of escapement of income from assessment and proposing a substantial addition of Rs.642 crores to its account.The SC held that these notices, which were issued in 2015, though disclosed reasons, were time-barred and hence unsustainable.”We accordingly allow the appeal by holding that the notice issued to the assessee shows sufficient reasons to believe on the part of the assessing officer to reopen the assessment but since the revenue has failed to show nondisclosure of facts the notice having been issued after a period of 4 years is required to be quashed”, held the bench comprising Justices L Nageswara Rao and Deepak Gupta.The Court however clarified that it has not expressed any opinion on whether on facts of this case the revenue could take benefit of the second proviso to Section 147 of the Act.”..the revenue may issue fresh notice taking benefit of the second proviso if otherwise permissible under law”, the Court said.As per second proviso, the time bar of 4 years for re-opening assessment as specified in first proviso to Section 147 of the IT Act, is not applicable “in a case where any income in relation to any asset located outside India has escaped assessment for any assessment year”.The Court however noted that the notices issued by the Department did not specify that it was proceeding under the second proviso.”The notice is conspicuously silent with regard to the second proviso. It does not rely upon the second proviso and basically relies on the provision of Section 148 of the Act. The reasons communicated to the assessee on 04.08.2015 mention ‘reason to believe’ and nondisclosure of material facts by the assessee. There is no case set up in relation to the second proviso either in the notice or even in the reasons supplied on 04.08.2015 with regard to the notice. It is only while rejecting the objections of the assessee that reference has been made to the second proviso in the order of disposal of objections dated 23.11.2015″, the bench noted.”…the noticee or the assesee should not be prejudiced or be taken by surprise. The uncontroverted fact is that in the notice dated 31.03.2015 there is no mention of any foreign entity”, added the bench.Therefore, the Court expressed the view that that “the notice and reasons given thereafter do not conform to the principles of natural justice and the assessee did not get a proper and adequate opportunity to reply to the allegations which are now being relied upon by the revenue”. The IT department took the stand that the NDTV had suppressed in the income it had raised in 2007-08 through foreign subsidiaries in Netherlands and United Kingdom.According to the department, the UK subsidiary of NDTV – NNPLC – had issued convertible bonds worth US $ 100 million, which was possible only due to the guarantee issued by NDTV. The Department reasoned that NNPLC had no actual worth, and held that the transactions with the foreign subsidiaries were “sham transactions with a view to get the undisclosed income”.The final assessment order accepting the returns of the NDTV for 2007-08 FY was passed in 2012. Three years later, in March 2015, the revenue sent the first notice seeking to re-open the assessment for 2007-08 FY. This notice did not give any reasons. The assessee then asked for reasons and thereafter on 04.08.2015 reasons were supplied.The assessing officer did not accept the objections of NDTV. The assessing officer was of the opinion that there were reasons to believe that the funds received by NNPLC were the funds of the assessee under a sham transaction.The attempt made by NDTV to challenge the re-opening of assessment in Delhi High Court did not meet with success. The HC held that there was no “true and fair disclosure” and therefore held that the revenue could taken the extended period of limitation of 6 years for initiating proceedings under the first proviso Section 147 of the Act.Challenging the Delhi HC decision, it approached the SC.Senior Advocate Arvind P Datar appeared for NDTV, and Solicitor General Tushar Mehta, along with Advocate Zoheb Hussain, appeared for the Department.The SC framed the following issues in the matter :(i) Whether in the facts and circumstances of the case, it can be said that the revenue had a valid reason to believe that undisclosed income had escaped assessment?(ii) Whether the assessee did not disclose fully and truly all material facts during the course of original assessment which led to the finalisation of the assessment order and undisclosed income escaping detection?(iii) Whether the notice dated 31.03.2015 along with reasons communicated on 04.08.2015 could be termed to be a notice invoking the provisions of the second proviso to Section 147 of the Act? As regards the first issue, the Court favoured the Department, and held that the notice was not issued on the basis of a “mere change of opinion”, and that the same was based on “prima facie” material.”At the stage of issuance of notice, the assessing officer is to only form a prima facie view. In our opinion the material disclosed in assessment proceedings for subsequent years was sufficient to form such a view. We accordingly hold that there were reasons to believe that income had escaped assessment in this case”, the bench said.With respect to the second issue, the Court held that the assessee had disclosed all material information in the first assessment itself. The revenue had argued that it can take the benefit of the extended period of limitation of 6 years for initiating proceedings under the first proviso Section 147 of the Act on the ground that the assesse had suppressed material information. This was rejected by the Court.The Court observed :”In our view the assessee disclosed all the primary facts necessary for assessment of its case to the assessing officer. What the revenue urges is that the assessee did not make a full and true disclosure of certain other facts. We are of the view that the assessee had disclosed all primary facts before the assessing officer and it was not required to give any further assistance to the assessing officer by disclosure of other facts”.The SC also noted that before the HC, the Department had not raised the point of non-disclosure of facts by NDTV.”We are clearly of the view that the revenue in view of its counteraffidavit before the High Court that it was not relying upon the non disclosure of facts by the assessee could not have been permitted to orally urge the same. Even otherwise we find that the assessee had fully and truly disclosed all material facts necessary for its assessment and, therefore, the revenue cannot take benefit of the extended period of limitation of 6 years”.The relief to NDTV was granted on the basis of the favourable findings on the third issue, which was answered as :”we answer the third question by holding that the notice issued to the assessee and the supporting reasons did not invoke provisions of the second proviso of Section 147 of the Act and therefore at this stage the revenue cannot be permitted to take benefit of the second proviso”. Click here to download judgment Read JudgmentSubscribe to LiveLaw, enjoy Ad free version and other unlimited features, just INR 599 Click here to Subscribe. All payment options available.loading….Next Story