National News
Bombay High Court Grants Exemption To Foreign Institutional Investors In Capital Gains Tax

The Bombay High Court has granted exemption to Foreign Institutional Investors (FII) in the matter of capital gains from alienation of any property taxable in Singapore. The HC was hearing an appeal filed by the Commissioner of Income Tax, challenging the 2017 order of the Income Tax Appellate Tribunal in favour of M/s Citicorp Investment Bank (Singapore) Ltd for taxing capital gains of the firm in Singapore.
A division bench of Justices KR Shriram and Firdosh Pooniwalla, recently observed, “The Singapore authorities have certified that the capital gain would be brought to tax without reference to the amount remitted or received there. The assessing officer(AO) could not have come to a conclusion otherwise.”
Citicorp says they have FII debt segment with SEBI
According to Citicorp, a tax resident of Singapore, it’s an FII in debt segment with the Securities and Exchange Board of India. It filed its return on September 30, 2009, declaring total income of nearly Rs34 crore. In its return, it declared a capital gain of nearly Rs 86.62 crore on the sale of debt instruments and claimed exemption under Article 13(4) of the India-Singapore Double Taxation Avoidance Agreement (DTAA). During the assessment, the assessee was asked to explain as to how the provisions of Article 24 of DTAA stood complied in order to claim capital gain exemption in India.
Company says its is liable to pay tax in Singapore
The company contended that being an FII, it was liable to tax in Singapore on its worldwide income. Even the Singapore Revenue Authority has confirmed the taxation on the company. As per Article 13 (4) of DTAA, if the company is offering its worldwide income for taxation in Singapore then remittance of such income to Singapore has no relevance for the purpose of claiming benefit under the DTAA. The AO, however, rejected the certificate.
Singapore authorities confirm company liable to pay tax in the Southeast Asian country
Senior advocate PJ Pardiwalla, appearing for Citicorp, contended that the limitations of relief under Article 24 of the DTAA would only arise when the entire capital gain is taxed in Singapore on the remitted amount and not the entire amount. Since the Singapore authorities have also certified that under the Singapore Laws, the income derived by the assessee from buying or selling Indian Debt Securities would be considered under Singapore tax law as accruing in or derived from Singapore, such income would be brought to tax in Singapore.
Crime
Accused in air hostess sexual assault case was porn addict: Gurugram Police

Gurugram, April 19: Gurugram Police said on Saturday that the accused in the air hostess sexual assault case was a porn addict, an official said.
Gurugram Police Spokesperson Sandeep Kumar said that the accused used to watch porn videos habitually, which was also confirmed from the mobile phone recovered from him.
He said that during police interrogation, it was found that the accused has a B.Sc. (OT) degree from a private institute from the years 2019-2022, and he was an average student in studies.
“For the last five months, he was working as a treatment machine technician in the ICU of the hospital. The accused going to the victim at the time of the incident was confirmed from the CCTV cameras installed in the hospital,” he said.
The Spokesperson said that during interrogation of the accused, it was also found that he had watched porn videos before the incident and even after committing the crime.
“Which is also being confirmed from the search history of the accused’s mobile phone. He was produced before the court on Saturday, from where he was sent to judicial custody for further proceedings,” he said.
Meanwhile, the SIT on Friday nabbed the accused, after analysing at least 800 CCTV cameras installed inside and outside of the hospital, who sexually assaulted the woman when she was on a ventilator.
The accused was identified as Deepak (25), a native of Muzaffarpur in Bihar. The accused had been working as a treatment machine technician in the ICU of the hospital for the past five months and was arrested in the Sadar police station area on Friday.
An official privy to the investigation said that the accused has confessed to his crime in the matter.
“While investigating the incident, eight police teams checked the footage of 800 CCTV cameras installed in the hospital, and around 50 hospital staff, including doctors, were questioned about the incident. Keeping in mind the seriousness of the incident, the police teams investigated from every angle and collected a lot of information related to the incident, as a result of which the police got great success in identifying the accused who committed the crime,” said Arpit Jain, DCP (Headquarters).
On Thursday, Vikas Kumar Arora, Commissioner of Police, Gurugram, had constituted an SIT and ordered the identification and arrest of the accused.
As per the order of the Police Commissioner, an SIT was constituted under the leadership of Arpit Jain, Deputy Commissioner of Police, Headquarters, Gurugram, in which a total of eight different police teams were given special directions and deployed to collect information and evidence related to the incident.
Dr. Sanjay Durani, Medical Superintendent of the hospital, said in a statement that: “We have been informed that the police have identified a suspect who has been taken into custody in connection with the ongoing investigation concerning allegations of sexual assault on a patient. On the basis of information provided to us by the police, we have suspended the suspect employee. As we await the final outcome of the investigation, we will continue to provide full support to the police.”
Business
FM Sitharaman to showcase India’s economic dynamism during US, Peru visit

New Delhi, April 19: Union Finance Minister Nirmala Sitharaman is set to embark on an official visit to the US and Peru, beginning April 20, where she is slated to participate in multilateral dialogues to showcase India’s economic dynamism, as the country prepares a bilateral trade agreement (BTA) with the US, it was announced on Saturday.
During her visit to the US, the Finance Minister will visit San Francisco and Washington, DC, from April 20-25, according to a Ministry of Finance statement.
In San Francisco, FM Sitharaman would deliver a keynote address at the Hoover Institution at Stanford University, titled ‘Laying the foundations of Viksit Bharat 2047,’ followed by a fireside chat session.
The Finance Minister will also interact with top CEOs from prominent fund management firms during a roundtable meeting with investors, besides holding bilateral meetings with CEOs from top information technology (IT) firms based in San Francisco.
She will also participate in an event featuring the Indian diaspora in San Francisco and interact with the Indian community settled there, said the ministry.
In Washington, DC, FM Sitharaman will participate in the Spring Meetings of the International Monetary Fund (IMF) and the World Bank, the 2nd G20 Finance Ministers and Central Bank Governors (FMCBG) Meetings, the Development Committee Plenary, IMFC Plenary, and Global Sovereign Debt Roundtable (GSDR) meeting.
On the sidelines of the Spring Meetings, she will hold bilateral meetings with her counterparts from several countries, including Argentina, Bahrain, Germany, France, Luxembourg, Saudi Arabia, United Kingdom, and the US; besides meeting EU Commissioner for Financial Services; President, Asian Development Bank (ADB); President, Asian Infrastructure Investment Bank (AIIB); United Nations Secretary-General’s Special Advocate for Financial Health (UNSGSA); and First Deputy Managing Director of the International Monetary Fund (IMF).
During her maiden visit to Peru from April 26-30, the Finance Minister will lead an Indian delegation of officials from the Ministry of Finance and business leaders, highlighting the strengthening bilateral economic and trade relations between the two nations.
Beginning her visit in Lima, she is expected to call on the President of Peru, Dina Boluarte, and Prime Minister Gustavo Adrianzen, besides holding bilateral meetings with the Peruvian Ministers of Finance and Economy, Defence, Energy and Mines, and also holding interaction with local public representatives.
The Finance Minister will chair the India-Peru Business Forum meeting with prominent business representatives in attendance from both India and Peru.
FM Sitharaman will also hold an interaction with the Indian investors and businesses currently operating in Peru, as well as the Indian business delegation visiting Peru. The Finance Minister will also participate in a community event in Lima, where she will interact with the Indian diaspora living in Peru, according to the ministry statement.
National News
We can’t live like this: Women break down before NCW chief in riot-hit Murshidabad

Kolkata, April 19: Women in Dhuliyan, one of the worst-affected areas in West Bengal’s minority-dominated Murshidabad district, have urged the Centre to set up permanent Border Security Force (BSF) camps in violence-hit pockets to ensure their safety following recent communal unrest over protests against the Waqf Act.
On Saturday, a delegation from the National Commission for Women (NCW), led by its chairperson Vijaya Rahatkar, visited Dhuliyan to meet those affected by last week’s violence, most of whom are Hindus.
Several women broke down during their interaction with the delegation and pleaded for the permanent deployment of central forces.
“We won’t survive without permanent BSF camps here. If needed, we are ready to offer our own land and homes for setting them up,” said a woman, sobbing and touching the feet of a delegation member.
The NCW team assured locals that their concerns would be conveyed to the Union Ministry of Home Affairs.
“We are here to stand with you in this moment of crisis. The whole country is watching and supporting you. We will submit a detailed report to the Centre and include the demand for permanent BSF presence in this region,” a delegation member told the women.
Even before Saturday’s visit, NCW member Archana Majumdar had stressed the need for permanent Central Armed Police Forces (CAPF) camps in the region.
“The women victims in Murshidabad have clearly expressed the need for permanent CAPF deployment to ensure their dignity and safety. We will raise the issue with the Union government,” Majumdar said on Friday.
Meanwhile, the Murshidabad district administration has prepared a preliminary report on property damage. According to initial estimates, over 250 houses and 100 shops — mostly owned by Hindus — were vandalized during the unrest.
“This is just the initial estimate. The actual figure may rise as we complete the detailed assessment,” said a senior district official.
-
Crime3 years ago
Class 10 student jumps to death in Jaipur
-
Maharashtra7 months ago
Mumbai Local Train Update: Central Railway’s New Timetable Comes Into Effect; Check Full List Of Revised Timings & Stations
-
Maharashtra6 months ago
Mumbai To Go Toll-Free Tonight! Maharashtra Govt Announces Complete Toll Waiver For Light Motor Vehicles At All 5 Entry Points Of City
-
Maharashtra7 months ago
False photo of Imtiaz Jaleel’s rally, exposing the fooling conspiracy
-
National News6 months ago
Ministry of Railways rolls out Special Drive 4.0 with focus on digitisation, cleanliness, inclusiveness and grievance redressal
-
Crime6 months ago
Baba Siddique Murder: Mumbai Police Unable To Get Lawrence Bishnoi Custody Due To Home Ministry Order, Says Report
-
Maharashtra5 months ago
Maharashtra Elections 2024: Mumbai Metro & BEST Services Extended Till Midnight On Voting Day
-
National News7 months ago
J&K: 4 Jawans Killed, 28 Injured After Bus Carrying BSF Personnel For Poll Duty Falls Into Gorge In Budgam; Terrifying Visuals Surface