The previous United Progressive Alliance government had last year approved pricing of all forms of domestically produced gas at according to a formula suggested by a panel headed by C Rangarajan.
Faced with prospect of its assets across the globe being seized just like Pakistan and Venezuela, the government decided to scrap retrospective taxation but the international embarrassment could have been avoided had 'attached' shares of Britain's Cairn Energy Plc not been sold, according to tax and legal experts. On Thursday, the government introduced a Bill in Parliament to scrap the tax rule that gave the tax department power to go 50 years back and slap capital gains levies wherever ownership had changed hands overseas but business assets were in India. The 2012 legislation was used to levy a cumulative of Rs 1.10 lakh crore of tax on 17 entities, including UK telecom giant Vodafone, but substantial punitive action was taken only in the case of Cairn.
The Ethics Officer has ruled that the former India players have to choose between CAC, IPL jobs
Chennai Super Kings and Rajasthan Royals were suspended from the Indian Premier League for two years for betting activities of their key officials, Gurunath Meiyappan and Raj Kundra, during the 2013 season of cash-rich Twenty20 cricket tournament.
Bangladesh on Wednesday executed banned Harkat-ul-Jihad al-Islami chief Mufti Abdul Hannan and his two associates for a 2004 attack on a shrine that killed three people and wounded the British high commissioner at the time.
Senior judges have developed a cushy arrangement among themselves: you back the appointment of so-and-so advocate's junior, and I will back so-and-so judge's nephew, says Subir Roy
Ex-IAF chief S P Tyagi will undergo further custodial questioning for three more days as the Central Bureau of Investigation on Wednesday told a court that AgustaWestland VVIP chopper scam was a "very serious" case requiring his interrogation to unearth the larger conspiracy as the "interest of the nation was compromised".
Nearly 700 of the 1,500 employees, who still claim to be on the payroll of the defunct airline, are women.
'The most valuable personal sensitive information of present and future citizens has been made available to foreign data firms and governments and non-State actors for all time to come,' says Gopal Krishna.
Tainted pacer Shantakumaran Sreesanth's plea for a review of his life ban has been 'summarily rejected' by the Board of Control for Cricket in India, which says it will not compromise on its zero tolerance policy towards corruption.
The family of Delhi gang-rape victim has taken a strong exception to making public of their daughter's name in the BBC documentary and has warned of taking legal action in this connection.
The Supreme Court on Tuesday reserved its verdict on a Rajasthan government's appeal challenging High Court's order staying conviction of Bollywood actor Salman Khan in the black buck hunting case in which he was awarded five-year jail term by a trial court.
In April 2013, CBI had first told the Court there were "some difficulties" in the probe after it went abroad.
Admittedly, EVMs too have a UID number and any convergence of data can make the secret ballot system a party of history, warns Dr Gopal Krishna in the 5th part of his series against Aadhaar.
As lobbying and counter-lobbying intensify, right now, it looks like a T20 match, discovers Tamal Bandyopadhyay.
The Delhi High Court on Wednesday upheld a trial court's decision to grant bail to Sanjeev Chawla, an alleged bookie and key accused in one of the cricket's biggest match-fixing scandals that involved former South African captain Hansie Cronje, saying when the scenario of a trial taking place was "stark", the liberty of a person "cannot be left in limbo" on the belief that he was a flight risk.
While former Committee of Administrators head Vinod Rai's recently published book gives an insight into the Anil Kumble-Virat Kohli drama and Ravi Shastri's eventual appointment as Head Coach, the book also contains a sprinkling of factual errors.
There is disquiet and discomfort in the citizenry that can be touched and felt. No one is talking, but then, the Indian voter has not talked much -- with the conviction that all that goes up has to come down, observes N Sathiya Moorthy.
The IT department had issued a tax assessment order in December 2011 asking Vodafone to add Rs 8,500 crore (Rs 85 billion) to its taxable income, thus raising the tax liability of the company.
Sahara group has been engaged in a legal battle with Sebi for long over raising Rs 24,000 crore (Rs 240 billion) from investors.
On February 17, 2009, Satyam case was handed over to CBI.
'With over 50 per cent of medical seats reserved for those who have the ability to pay a fee ranging from Rs 50 lakh to Rs 1.5 crore for a five-year MBBS course and quotas in accordance with affirmative policies in government colleges, the band of seats available for the not-so-rich and non-OBCs is very narrow.'
The raids resulted in recovery of documents of some dummy firms linked to Mallya like Gold Reef Investments Ltd and McDowell Holdings Ltd.
Sahara relied on a letter from bank saying the funds were there.
The US president's tweet provoked sharp criticism from commentators who saw it as a piece of opportunism at London's expense.
After 24 months of slowdown beginning in January 2018 before the pandemic and then 18 months of collapse since January 2020, we have become the world's worst performing economy, observes Aakar Patel.
The court delivered the verdict after postponing it for four times in the Avenfield corruption case -- pertaining to the ownership of four flats in the posh Avenfield House in London.
Former IPL chief shooed off potential buyers at the behest of Sushanto Roy, says broker
For Navy veterans who watched the huge vessel being towed away by a tug boat, it was an emotional moment as they stood near the Gateway of India, waving at the once 'floating town', aboard which they spent the best years of their career.
Mallya has denied that he had fled India and said he would comply with laws.
'When Covid first struck, the lockdown resulted in clean air in major Indian cities.' 'You were able to see the Himalayan range from Ludhiana.' 'In Delhi, you were seeing deer and stags all over the city because there was no traffic.' 'It was incredible. Nature was waiting to come back.'
While smart boys like the Ruias of Essar, Ajay Piramal, Max India promoter Analjit Singh laughed all the way to the bank, the Tatas, Anil Ambani, Malaysian tycoon T Ananda Krishna of Maxis (which invested in Aircel), Sistema, and Norway's Telenor burnt their fingers, notes Surajeet Das Gupta.
Finance Minister P Chidambaram has asked UK-based Vodafone Group, which is facing a tax liability of over Rs 11,200 crore in India, to give its view on the long-pending matter in writing, a senior official said.
Aiming to improve its standing as a sporting nation globally, India is trying to adopt the models followed by Australia and United Kingdom.
Fiat Chrysler will be shipping its first India made product - the Compass SUV - to right hand drive markets like UK, Japan, Australia and South Africa in the next few months.
The Sebi chief said that although the idea of an SRO has been challenged in court, he is hopeful of its implementation.
The Supreme Court-appointed high-level Committee, headed by former Chief Justice of India Rajendra Mal Lodha, proposed two-year suspensions on IPL franchises Chennai Super Kings and Rajasthan Royals. Here's what the verdict means.
The Magna Carta inspired legends like Mahatma Gandhi and Nelson Mandela for liberty to their lands and people, Prime Minister David Cameron said.
Supreme Court judge Justice Kurian Joseph on Saturday urged media to show maturity while handling issues related to atrocities against women and children in the country.
In a filing to the Bombay Stock Exchange (BSE), USL said it had made a recommendation to the board of subsidiary United Spirits to consider the sale of the entire share capital of Whyte & Mackay.
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