"The underlining theme with which we have been working till now is that we trust the taxpayers and from purely an enforcement agency, we are shifting our focus to being a service-oriented department," says CBDT chairman Pramod Chandra Mody.
Restraining the Income Tax authorities from going back on their promises, the Supreme Court has categorically ruled that they cannot reopen the tax payments settled under the Kar Vivad Samadhan Scheme, 1998.\n\n\n\n\n\n
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The trust deficit has widened with buyers losing confidence in a developer's ability to construct and deliver a project on time.
CAS orders FIFA not to extend his 90-day provisional suspension but will not be allowed to attend the Euro 2016 draw
Finance Minister Nirmala Sitharaman on Monday presented the Budget for 2021-22 in the Lok Sabha that is expected to provide relief to the pandemic-hit common man as well as focus more on driving economic recovery through higher spending on healthcare, infrastructure and defence amid rising tensions with neighbours, As India emerges from the COVID-19 crisis, the ninth Budget under the Modi government, including an interim one, is widely expected to focus on boosting spending on job creation and rural development, generous allocations for development schemes, putting more money in the hands of the average taxpayer and easing rules to attract foreign investments.
A criminal case has been registered against the group by the agency in connection with non-payment of crores of rupees to depositors after it got some fresh reports in this regard from the Sebi.
Jagmohan Dalmiya, who will be going for his third term, is unlikely to face any challenge.
Breather for FIIs: MAT assessments, fresh notices put on hold.
Sahara Counsel told the court that negotiations were underway for selling Sahara Group's offshore properties for raising sufficient fund for Subrata Roy's bail.
Leading West Indian cricketers will prefer to play in lucrative Twenty20 tournaments around the world instead of representing the Caribbean side under the current administration, former captain Darren Sammy has said.
Fresh trouble seems to be brewing for liquor baron Vijay Mallya, with Mumbai International Airport(MIAL) deciding to sell a mid-sized corporate jet owned by his group company.
If the property is inherited from one generation to another, the person who inherits it cannot pass it on as s/he wishes, points out Rajesh Narain Gupta, managing partner, SNG & Partners.
Pardeep Singh, who is studying hospitality in the country, was beaten at the Sandy Bay McDonald's drive-through in Australia's island state of Tasmania on Saturday night.
Case in the US relates to an Airbus Corporate Jet
Under Sebi guidelines, AIFs can operate broadly in three categories.
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This property has all the hallmarks of being owned and occupied by Vijay Mallya. A fleet of supercars making their way down the drive, hordes of people descending to party all night long and a constant delivery of goods and services.
It's not unusual for the tax departments to freeze bank accounts and there have been instances of the authorities recovering the outstanding from the bank, though such course of action is not common.
'There was already a cash crunch and this (lockdown) has created more trouble.'
The Guardian reported that accounts filed in Dublin showed that in 2009 Her Majesty's Revenue and Customs settled a dispute with the British telecoms provider over its Irish tax returns.
The Adanis', which already has won the bids to run six Airport Authority-built non-metro airports in Lucknow, Jaipur, Guwahati, Ahmedabad, Thiruvananthapuram and Mangalore, bid to enter the country's second busiest airport by buying out Bid Services Division Mauritius from MIAL was stalled after GVK chose to exercise its first right of refusal, and matched the Rs 1,248-crore offer that the Adanis made to the Bidvest in March.
Both have been robustly muscular leaders who began as immensely charismatic politicians conveying an impression that they were makers of history, raring to go. Both have been hyperactive on the world stage. But in the final analysis, Abe is departing on a sombre note, unceremoniously and apologetically, observes Ambassador M K Bhadrakumar.
Sebi says Sahara investors refunded over Rs 42 cr.
The Bombay high court has ruled that trained teachers should be given pension applicable to employees in their grade as it would be illegal and unjustified to give them pension of untrained teachers.
'Our priority will be to settle land disputes in Bihar, which I believe is the root cause of almost all crime in the state.'
Players have been embroiled in contractual disputes with Cricket West Indies (CWI) for several years, with the team even abandoning a tour of India midway through their 2014 series over a payment structure row.
Like the UPA government, probably the NDA government also feels that hardships caused to taxpayers are just collateral damage and that taxpayers are too few and even those few don't have a vote (non-individuals) or don't vote, says Harsh Roongta.
'All parties and the government acknowledge that there we are in trouble and there is more trouble ahead,' observes Aakar Patel.
Bhargavi Zaveri & Radhika Pandey explains how complexities of foreign exchange rules are used by India Inc to dispute contractual obligations.
UK oil explorer Cairn Energy is facing a tax demand of Rs 10,247 crore and Vodafone over acquisition of 67% stake in the mobile business owned by Hutchison Whampoa in 2007
GlowRoad, a business network for homemakers, is helping women who want to earn from home.
The government's plan to mop-up additional revenue from indirect tax may not materialise
The Gujarat high court quashed a First Information Report filed against member of Parliament Vitthal Radadia for allegedly brandishing his gun at a toll booth in Karjan after the complainant said he "did not wish to pursue the case".
As the issue remained deadlocked with both sides sticking to their respective positions, Prime Minister Narendra Modi, while laying the foundation stone for a new Parliament building, invoked Guru Nanak to underscore the importance of dialogue and noted that the Sikh Guru had said that interaction should continue till eternity.
Based on internal evaluation and legal opinion, the management was of the opinion that the company has the ability to ultimately recover the aforesaid ICDs
Exchanges believe its legal status may now change, with the government pushing for digitised transactions.
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