Rashmi Rajput

The currency printing arm of India's central bank has invited global expressions of interest (EoIs) from manufacturers to supply polymer substrate sheets with embedded security features for printing polymer banknotes, officials aware of the matter told ET.

Maharashtra charity commissioner seeks explanation from Noel Tata regarding a 1989 share transfer. The regulator will decide on an independent inquiry after reviewing the response. A trustee alleged the transfer unlawfully moved public charitable trust assets to private hands. Tata Trusts denied the allegations, calling them baseless and unsubstantiated. The commissioner directed Noel Tata to submit documents and clarify transaction aspects.

Mumbai ITAT ruled agreement registration does not mean property receipt. Tax cannot be levied on future property rights under anti-abuse provisions. The tribunal allowed a taxpayer's appeal against a ₹1.38 crore tax addition. Registration creates contractual rights, not actual property possession or receipt. This decision clarifies tax treatment for ongoing redevelopment projects in Mumbai.

In an order pronounced on Thursday, special judge Sanjeev Kumar Malhotra directed that the Wadhawan brothers face charges under various sections of the IPC, relating to criminal conspiracy, cheating, forgery and falsification of accounts.

Peace has returned to Bastar villages after the Maoist insurgency officially ended. Former rebels now seek rehabilitation and new livelihoods through government programs. Victims of the conflict grapple with reintegrating those who once caused them harm. The government aims to transform development slogans into community-led initiatives for lasting change.

Maharashtra Charity Commissioner will examine an external legal opinion. This opinion questions the 1989 transfer of Tata Sons shares. The transfer involved 833 shares from a trust to a former trustee. It alleges violations of company law and trust obligations. The opinion deems the transaction invalid from its inception.

The Income Tax Appellate Tribunal determined that employee stock options are not considered part of salary perks until they are exercised. Any gains from the repurchase of options, which have not yet been exercised, are to be taxed as long-term capital gains. This case revolved around a Flipkart executive who received ₹2.33 crore from repurchased stock options, affirming that the options are treated as capital assets.

The Income Tax Appellate Tribunal ruled that vested ESOPs are not taxable as salary until exercised. It held that gains from Flipkart's repurchase of unexercised vested stock options are taxable as long-term capital gains, providing clarity on the tax treatment of ESOP buyback transactions.

The Bombay High Court overturned Tarun Tejpal's acquittal in a rape case. The court found the trial court's order perverse and influenced by stereotypes. Evidence was misread and inadmissible material was relied upon by the lower court. Tejpal was convicted and sentenced to ten years rigorous imprisonment for the offences. The High Court emphasized that victims cope with trauma differently and are not disbelieved.

Gujarat is studying Maharashtras legal and technology reforms as it prepares to amend its public trust law and improve oversight of charitable institutions.The state has around 1 lakh dormant, defunct or inactive trusts that are no longer carrying out their stated charitable activities.