US draws a red line on PM Modi’s Iran meeting

ITAT Mumbai rules stamp-duty gap tax cannot fall entirely on one co-owner

A Mumbai couple jointly purchased a flat worth Rs 60 lakh, after which tax authorities added the entire Rs 34.81 lakh difference between the purchase price and the property's stamp-duty value to the husband's income alone. The Income Tax Appellate Tribunal (ITAT) Mumbai took objection to this approach in a recent ruling. The tribunal questioned whether the full stamp-duty gap could be taxed in the hands of just one co-owner when the property was bought jointly. The case highlights an important legal question around how Section 56(2) income tax provisions apply to jointly held property purchases.

Step up preparedness for glacial lake outbursts, avalanches, MHA tells Himalayan states, UTs

Temple restoration work on Goa island unearths relics from 14th to 16th century

Five migrants die after boat drifts for weeks in Atlantic en route to Canary Islands

At least five African migrants lost their lives after their overcrowded boat, carrying over 100 people, ran into serious trouble in the Atlantic Ocean. Forty-four survivors were rescued and transferred to safety near Gran Canaria, Spain. According to survivors, the vessel was adrift for close to a month with little to no food or water supplies. Desperate conditions led many onboard to drink seawater, resulting in widespread dehydration and illness. The Atlantic crossing to the Canary Islands continues to be one of the most perilous migration routes in the world.