Income Tax refunds jump 474% since 2013-14, issuance time improves in past 11 years
India's Income Tax refunds have surged by 474% over the past 11 years, reaching Rs 4.77 lakh crore in 2024-25, outpacing the 274% growth in gross tax collections. The processing time for refunds has significantly decreased from 93 days in 2013 to just 17 days in 2024. This improvement is attributed to enhanced tax administration and digital infrastructure.
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India Today
an hour ago
- India Today
Tribunal raps ED for ignoring due process in launching probe into Pune land deal
An appellate tribunal came down heavily on the Enforcement Directorate (ED) for making a land parcel in Pune a subject of their investigation without following due process and Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act (SAFEMA) Appellate Tribunal quashed the ED provisional attachment orders on land in Pune's Hinjewadi purchased by a trading land, intended for development by Hindavi Swarajya Trading Company, was linked to an ED probe, without the knowledge of the cooperative society and its The tribunal highlighted negligence on the part of the ED and collusion of the investigating/enquiry officer in keeping the director of the company in the case involves land acquisition by Hindavi for a group cooperative housing society, which houses 126 flats. Homebuyers had secured extensive loans from banks to fund their tribunal noted that negligence by the ED has risked public money in the form of home loans from government and private banks to the tune of approximately Rs 30 crore. Despite due diligence by the company, the ED did not inform the director about the attachment tribunal also rapped the ED over its failure to disclose the attachment status during the land purchase diligence, stating, "At this belated stage, when the land is already sold, developed and constructed into flats, and thereafter, the said flats were sold to a large number of owners, the situation cannot be reversed at this stage. Otherwise, it will prejudice the interests of the appellants and buyers of the flats".The tribunal underscored that both the company and the banks had conducted thorough verification processes, and during the intervening period no steps were taken by respondent ED to restrain the development and sale of flats to the counsel for the appellants, Faraz Khan, welcomed the ruling, and said that the decision draws a constitutional boundary by punishing launderers and not honest citizens."Due diligence is not a game of hide and seek. When the State attaches property, it must shout it from the rooftops—register it, publicise it, mark it. The ED's failure to follow this process almost destroyed the lives of 126 families," Khan said."Freezing and de-freezing crores of suspected laundered funds while concealing attachment from an innocent purchaser is not just carelessness, it is institutional failure. This ruling sets a template for all such cases where third parties unknowingly buy into attached properties. It's a victory for every ordinary home-buyer," Khan added.- EndsTune InMust Watch
Hindustan Times
an hour ago
- Hindustan Times
HC asks UP govt to follow SC guidelines in filing affidavit in mob lynching incident
Prayagraj, The Allahabad High Court, hearing a petition in a mob lynching case, has directed the Uttar Pradesh authorities to file an affidavit within three weeks in consonance with the Supreme Court's 2018 guidelines on preventing and addressing incidents of mob violence. HC asks UP govt to follow SC guidelines in filing affidavit in mob lynching incident A bench comprising Justice Siddharth and Justice Avnish Saxena was hearing a petition filed by the brother of a 37-year-old man killed on suspicion of slaughtering cattle in Moradabad district in december last year. The petition sought a probe into the incident by a special investigating team and Rs. 50 lakh as compensation for the family of the deceased. During the court proceedings, the counsel for the petitioner argued that the state had not implemented the mandatory safeguards laid down by the apex court in the case of Tehseen S Poonawalla vs. Union of India . The ruling included remedial measures like prompt FIR registration, nodal officer oversight, timely charge-sheet filing, victim compensation, etc. The High Court, in its order dated July 10, recorded that only the investigating officer had filed a counter-affidavit in the matter and the state government had not shown any steps taken in line with the binding directions of the apex court. Thus, the division bench remarked that the UP government should file a better counter-affidavit keeping in view the directions of the apex court in the Poonawalla case within three weeks. Regarding the merits of the matter, it noted that the FIR should have been lodged by the police under Section 103 of the BNS , but was instead registered under Section 103 . The court stayed the investigation in the FIR until the next date of hearing. The court ordered that the matter will now be heard next on August 5, 2025. The petitioner contended that the Uttar Pradesh government has failed to formulate a Lynching/Mob Violence Compensation Scheme in compliance with the provisions of Section 357A of the criminal procedure code , despite the explicit and binding direction in the Tehseen Poonawalla case, which constitutes 'grave' and 'willful' violation of the rule of law. The petition also requested the court to direct the UP government to take disciplinary action against the police officials involved in the matter in line with the Supreme Court's directions to ensure accountability. It also requested the court to direct the Centre to launch public awareness campaigns against mob violence and lynching, highlighting legal consequences as directed by the Supreme Court. On the intervening night of 29-30 December 2024, Shahedeen and a few others were allegedly caught by a mob which accused them of slaughtering a cow. While the others managed to flee, Shahedeen was brutally beaten by the mob for nearly an hour. He succumbed to the injuries the next day. Later, Moradabad police booked Shahedeen and his alleged accomplices under the Uttar Pradesh Prevention of Cow Slaughter Act. This article was generated from an automated news agency feed without modifications to text.
The Print
an hour ago
- The Print
Suraj Estate Developers launches Rs 120-cr project in Mumbai
Mumbai, Jul 14 (PTI) Suraj Estate Developers has launched a luxury residential project with potential gross development value of Rs 120 crore in the financial capital of the country, according to an exchange filing. 'Strategically located in Prabhadevi – one of Mumbai's most sought-after residential neighborhoods – the project has an estimated gross development value of Rs 120 crore,' the filing stated.
