One man’s fiscal problem is another man’s lifeline. Trigger happy bureaucrats and economists may love shooting down subsidies because it bloats the fiscal deficit and burdens the government but the simple fact is that in a one billion strong nation, in which nearly one in every three live below the poverty line, one needs an effective and efficient method through which privileged tax payers can support the poor. Last week, finance...
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SC may set guidelines for reporting of legal issues
-The Times of India The Supreme Court on Tuesday said it would hear arguments from March 27 on framing of guidelines for media on reporting of judicial proceedings. A five-judge constitution bench headed by Chief Justice S H Kapadia took up the issue on filing of applications for framing of guidelines by senior advocate Fali S Nariman and market regulator Sebi. The proceedings emanated from alleged leakage of advocate's proposal of Sahara...
More »Vodafone case: SC dismisses review petition-Nikhil Kanekal, Remya Nair & Surabhi Agarwal
The Supreme Court dismissed the government’s review petition in the Vodafone tax case on Tuesday, affirming its January ruling that put overseas transfers of shares outside the Indian tax net. The review petition and last week’s budget proposals seeking retrospective changes have revived the uncertainty over tax laws, according to government officials, the Planning Commission and businesses. If Parliament passes the budget in its current form, the judgement in the Vodafone case...
More »Vodafone tax case: Supreme Court rejects petition seeking review of order
-The Economic Times The Supreme Court has declined to reconsider its ruling that the tax authorities had no jurisdiction to tax Vodafone's offshore acquisition of its Indian mobile unit, handing what could be a pyrrhic victory to the telecom major. The tax demand, government officials familiar with the case said, could be revived once the provisions in the Union Budget seeking to tax overseas deals are approved by Parliament later this...
More »SC notice to summon Modi
-The Telegraph The Supreme Court today issued notices to the Nanavati Commission and the Gujarat government directing the panel to summon chief minister Narendra Modi for questioning in connection with the 2002 riots. The order came on a petition filed by Jan Sangharsh Manch (JSM), which represents the riot victims. Gujarat High Court had earlier rejected the plea by JSM The JSM then appealed in the apex court following which a bench of...
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