Explained: Chronology Of India's Huge U-Turn On Retrospective Tax
NDTV
The Indian government has suffered a string of setbacks in international arbitration over its retrospective tax claims in recent months.
The Indian government on Thursday proposed to refund companies in disputes over retrospective tax, including telecoms operator Vodofone and energy giant Cairn, after a string of setbacks in international litigation. The tax raised for the indirect transfer of Indian assets before May 2012 would be "nullified on fulfilment of specified conditions" such as the withdrawal of pending litigation and an undertaking that no damages claims would be filed, a government statement said. The dispute began in 2012 after the then Congress-led coalition government decided to impose capital gains tax retrospectively on some companies, such as Vodafone and Cairn, which took their cases to arbitration and won. The cases were met with a huge outcry among foreign investors and also dealt a blow to the government of former Prime Minister Manmohan Singh, who lost power in a 2014 election to Prime Minister Narendra Modi.
The BJP-led Mahayuti alliance clinched a historic victory in the Maharashtra Assembly Elections, winning 235 out of 288 seats.
Varanasi: Half a dozen men rained punches and blows on the cop as his wife and children waited inside the car, horrified.
The BJP has managed a successful course correction in Maharashtra, where just a few months ago, it has slid massively in the Lok Sabha polls.
The NCP (SP) candidates who defeated their NCP rivals included Jitendra Awhad who defeated Najeeb Mulla in Mumbra Kalwa.
Jan Suraaj candidates failed to make a significant impact, finishing third in three constituencies and one in the fourth position.
Police arrested Deepak Max, 20, caught after an encounter by Crime Branch, while Krish Gupta, 18, by local police from the same area.
The prime minister said the Maharashtra election also shows that only one Constitution will work in India and that was given to the people of the country by B R Ambedkar.
The Prime Minister said the Congress' outsized interest in its own welfare is a "threat to democracy".
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This is the third consecutive time that the BJP has emerged as the largest party in Maharashtra, which is undoubtedly a historic feat, Prime Minister Modi said.