Around 100 cooperative sugar mills in Maharashtra have lost one round of a battle on income tax (I-T) arrears dating back to 1992-93, with an appellate authority rejecting their argument on dues. If the decision, by the commissioner of income tax (appeals), is not appealed again, the mills may have to pay Rs 2,500 crore in arrears. Vijaysinh Mohite-Patil, chairman of the Federation of Cooperative Sugar Factories in Maharashtra, told Business Standard:...

Fifty thousand jobs? The U.S. economy has lost that many every week, on average, for a straight 140 weeks since December 2007. Now that the media's gush and drool over the Obama visit has run dry — thanks to other far more interesting events — it might be worth looking at a couple of ‘outcomes' that much of our media seemed pretty taken with.‘Twenty deals worth 10 billion dollars that create...

On Thursday, after a fortnight of photo-OPS and hobnobbing with the most powerful people in the country, the first recipient of the unique ID card, Chhabadibai Sonavane, set out to look for work. She was elated when she learnt she would be paid Rs50 for eight hours of paddy planting at a farm 5km from her home in Tembhali village in tribal-dominated Nandurbar district. Only a day ago, prime minister Manmohan Singh...

In an attempt to control the rising prices of rice and wheat, the State Government has decided to sell them at Rs. 17 and Rs. 14.70 a kg, respectively, through its cooperative societies. Minister for Food and Civil Supplies H. Halappa told presspersons here on Wednesday that each family coming under above or below poverty line categories was eligible to purchase 25 kg of these commodities at a time. Identity cards...