MUMBAI: The income tax appellate tribunal’s (ITAT) Mumbai bench has held that the absence of a formal gift deed cannot, by itself, justify treating a property purchase as an ‘unexplained investment’ when the source of funds is clearly identifiable. Under I-T laws, if income or an asset is treated as unexplained, it is subjected to…
NEW DELHI: Former Tamil Nadu BJP president K Annamalai on Monday added fresh fuel to speculation about his political future after he left for Delhi from Chennai and declined to dismiss reports that he could be preparing to launch a new political outfit.When asked about the growing buzz surrounding a possible new party, Annamalai said,…
Ace industrialist Harsh Goenka recently shared a picture of a notice he said he had personally seen at a hotel in Gstaad, Switzerland. If you read the notice displayed at Hotel Arc-en-Ciel in the Swiss resort town of Gstaad, it shares a list of must-follow set of rules specifically meant for their “Dear guests from…
India’s digital payments network continued its rapid expansion in May, with Unified Payments Interface (UPI) transactions climbing to their highest-ever monthly levels in both value and volume, latest data from the National Payments Corporation of India (NPCI) showed.During the month, UPI handled 23.2 billion transactions worth Rs 29.90 lakh crore, surpassing the previous month’s figures…
In order to strengthen the crucial strategic partnership with India, Australia’s deputy prime minister and defence minister, Richard Marles, co-chaired the second India-Australia Defence Ministers’ Dialogue in New Delhi. During the meeting, the defence ministers of the two countries discussed the progress of this pivotal relationship since the first such dialogue was held in Australia…
By: Manvi VyasHYDERABAD: As elated supporters of the Royal Challengers Bangalore (RCB) poured into the streets on Sunday night to celebrate the team’s victory in the IPL, a series of videos circulated online showing fans creating a ruckus on the road, making the police resort to lathi-charge. However, no legal action has been initiated against…
India’s manufacturing sector expanded at its fastest pace in three months in May, supported by strong domestic demand, infrastructure-led activity and rising new business orders, even as higher costs linked to the Middle East conflict continued to weigh on manufacturers, a monthly survey showed on Monday.The seasonally adjusted HSBC India Manufacturing Purchasing Managers’ Index (PMI)…
India and the United States are inching closer to signing the first tranche of the proposed bilateral trade agreement, with most of the key details already settled, commerce and industry minister Piyush Goyal said on Monday. His remarks came as a high-level US delegation arrived in New Delhi for a fresh round of negotiations. Speaking…
NEW DELHI: Virat Kohli once again proved why he is one of cricket’s biggest match-winners, scoring an unbeaten 75 as Royal Challengers Bengaluru (RCB) defeated Gujarat Titans by five wickets in the IPL final in Ahmedabad. Chasing 156, Kohli guided the team home and finished the season with 675 runs. Head coach Andy Flower praised…
NEW DELHI: India has recorded a significant decline in infant deaths over the past decade, with the Infant Mortality Rate (IMR) falling to 24 deaths per 1,000 live births in 2024. Yet behind the national progress lies a sharply uneven picture, with some states approaching developed-world child survival standards while others continue to struggle with…