In a case related to Mumbai-based Jai Trust versus Union government, the court ruled that a gift is a consideration-less transaction, and hence, not liable for capital gains tax. It quashes the reassessment notice issued by the tax authorities alleging that a specific income has escaped assessment on transfer of shares as gift by the trust.
A bench headed by Chief Justice DY Chandrachud, which had taken cognisance of the incident, has kept the matter on top of the cause list for hearing at 10:30 am on Tuesday.
Portfolios were on Tuesday allocated in the new Bihar cabinet headed by Chief Minister Nitish Kumar who, predictably, retained the all-important home department which helps him keep direct control on the state police.
VIP entry must be restricted only to themselves and their family members, but not the relatives, Justice S M Subramaniam said.
The L-G will take decisions on police, officers of all-India services such as the IAS and the IPS, and giving sanction for prosecution in various cases.
Varanasi, Detroit, and Venice have been selected to host a global initiative aimed at creating sustainable transportation solutions for cities as part of the 'Toyota Mobility Foundation's Sustainable Cities Challenge'. The initiative is a $9 million programme that will see these cities collaborate with innovators to develop and implement new mobility solutions. The cities, located in the US, India, and Italy, were chosen from a shortlist of 10 cities announced in November 2023.
What stood out in his 15-year journey as a member of the political executive at the Centre was his glowing record as India's most successful and effective finance minister. Both as prime minister and finance minister, he understood the importance of gradualism, except when the economy or the polity was in a crisis.
Justice Sanjiv Khanna, who has been part of several landmark Supreme Court judgements such as scrapping the electoral bonds scheme and upholding abrogation of Article 370, will be sworn in as the 51st Chief Justice of India on Monday.
There is a definite attempt to put the landslides on the backburner because news of them and climate change worry Wayanad's tourism and real estate businesses greatly. Whatever I experienced of Wayanad's 2024 by-elections; the July landslides were not a burning issue, observes Shyam G Menon.
The BMC declared a holiday for all government and private schools and colleges in Mumbai on Thursday after the IMD issued a 'red' alert for the metropolis.
'A possible post-election growth momentum may be lost.'
The Jammu and Kashmir administration on Saturday sacked six government employees, including five policemen, for their 'deep involvement in anti-national activities', officials said.
Delivering a thinly veiled message to Pakistan from its soil, External Affairs Minister S Jaishankar on Wednesday said activities across borders characterised by the 'three evils' of terrorism, extremism and separatism are unlikely to encourage trade, energy flows and connectivity.
The Jammu and Kashmir administration has sacked three employees, including the Kashmir University public relations officer, for allegedly working with Pakistan-based militant outfits, raising finances for them and propagating their ideology, officials said on Monday.
Of the total proposed allocation, over Rs 1 lakh crore is meant for BSNL and MTNL-related expenses, including Rs 82,916 crore infusion in BSNL for technology upgradation and restructuring at BSNL.
The ministry of information and broadcasting (I&B) on Wednesday held an inter-ministerial meeting with various departments to discuss issues regarding revenue sharing between Big Tech companies and digital news publishers, according to sources. The meeting - chaired by I&B Secretary Sanjay Jaju - invited senior officials from the ministry of corporate affairs (MCA), Competition Commission of India (CCI), ministry of electronics and information technology (Meity) and departments of promotion of industry and internal trade, legal affairs and consumer affairs.
Te Congress slammed the Centre's order, alleging that Prime Minister Narendra Modi wants to politicise employees on an ideological basis.
Senior Bharatiya Janata Party leader and the tribal face of the party, Vishnu Deo Sai, on Wednesday took oath as the chief minister of Chhattisgarh, 10 days after the saffron party returned to power after a gap of five years by unseating Congress in the assembly elections.
The finance ministry has directed all state-owned banks to review their gold loan portfolio as instances of non-compliance with regulatory norms have been noticed by the government. The Department of Financial Services (DFS) in a communication addressed to heads of public sector banks has asked them to look at their system and processes related to gold loan. "We have asked banks to undertake comprehensive review of the gold loan business," financial services secretary Vivek Joshi told PTI.
Delhi's appeasement strategy may now translate as more mega arms deals with the US, generating substantial business and job creation in the American economy. Make no mistake, Americans will use it to pressure India, predicts Ambassador M K Bhadrakumar.
The cabinet also gave its nod to a proposal to amend the Madhya Pradesh Minister (Salary and Allowance) Amendment Bill, 2024, and make a provision for state ministers to deposit their income tax instead of the government bearing such burden.
China's secondary cities are building infrastructure on a massive scale, but the factories that will generate jobs for the poor are still nowhere in sight.
The Government of India amended the General Financial Rules 2017 to enable imposition of restrictions on bidders from countries which share a land border with India on grounds of defence of India, or matters directly or indirectly related thereto including national security, an official statement said.
US District Court Judge Amit P Mehta was told by government lawyers that a few of 30 newly recovered emails were not included in the 55,000 pages previously provided by Clinton to the State Department.
A day after the Aam Aadmi Party claimed that Delhi Chief Minister Arvind Kejriwal had lost 8.5 kg in prison, Tihar jail sources on Monday said he had only lost 2 kg and he was being regularly monitored by a medical board of AIIMS.
These could include strengthening the public-private partnership (PPP) dispute resolution mechanism, uniform PPP institutional framework, easier terms for infrastructure companies accessing bond markets, and tax sops, Business Standard has learnt. Investment in infrastructure projects with high multiplier effect has been the Centre's main plank to revive the economy, create employment and boost consumption.
Citing a Tamil daily's reportage, Union Finance Minister Nirmala Sitharaman on Sunday alleged that the Tamil Nadu government administered temples have barred puja for Lord Ram on the day of the consecration of the grand temple in Ayodhya, which was dismissed by the state as a false news with ulterior motives.
An Indian-origin couple and their two children were found dead in their home in the US state of New Jersey and the police are investigating the matter as a homicide.
The India Meteorological Department attributed the westerly wind and moisture incursion from the Arabian Sea as the reason behind the spell.
The former Congress president also tagged a post by Tesla CEO Elon Musk in which he talked about eliminating EVMs.
The crucial hearing on the PILs by a bench headed by Chief Justice D Y Chandrachud assumes significance in the wake of recent developments in which the Centre agreed to the apex court's proposal to set up a committee, likely to be headed by a former Supreme Court judge, to look into the regulatory regimes.
The Seattle police officer who struck and killed Indian student Jaahnavi Kandula while responding to an overdose call, will not face any criminal charges due to lack of 'sufficient' evidence, authorities said.
'It would be reasonable to assume that Modi 3.0 would be more focused on projects and schemes which do not require any legislative change or which have the support of its coalition partners,' asserts A K Bhattacharya.
'A mule operates someone else's account to transfer illegal money.'
'We cannot endanger our national security by indulging in false bravado, fake narratives and high-decibel whitewashing. As a nation, we have to collectively fight the scourge of cross-border terrorism'
Earlier this year, the Union Cabinet gave the management of state-run companies the freedom to decide on divesting their subsidiaries. However, the very next day a meeting was held at the top level of the Government of India, for the presentation of proposals for more autonomy for state-run companies. Interestingly, no chiefs of any of these companies were invited. It is a problem that will stare the government in the face with the state-owned banks too, as talks have again begun for inviting strategic investments in these companies.
Senior advocate Prashant Bhushan, who appeared for the petitioners in the court, said at least 30 shell companies purchased electoral bonds worth over Rs 143 crore.
'The idea is to frame the ToR quickly, so that Trai can begin its consultations with industry stakeholders.'
A paternal aunt of the teenager allegedly involved in the Pune Porsche car crash that killed two IT professionals last month has moved the Bombay high court claiming the boy was in 'illegal' detention and sought his immediate release.
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