Cook working in a 5-star hotel gets Rs 4 crore tax notice with penalty for alleged Rs 24.62 crore sales, but he claims PAN was misused which led to wrong Form 26AS entry; why Delhi HC gave relief

On October 6, 2026, the Delhi High Court ruled in the man’s favour, providing him relief by cancelling the entire tax demand notice. (Image for representative purpose only) What happens if your PAN Card is misused and the entry shows up in your Form 26AS, prompting an income tax notice and tax demand way above…

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Apple India crosses Rs 1 lakh crore revenue in FY26 as growth accelerates 31% and profit jumps 66% to Rs 5,311 crore; iPhone volumes rise 24%

Apple’s strong showing comes even as competition between it and Samsung has  intensified in India. Apple is growing big in India with its business crossing the Rs 1 lakh crore revenue mark in FY2026. Both sales and profits grew at a faster pace than the previous year. The performance came even as the broader market…

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India-New Zealand FTA kicks in: Zero duty, more opportunities – what’s in it for India?

India – New Zealand trade deal kicks in NEW DELHI: The India-New Zealand Free Trade Agreement (FTA) came into force on Tuesday opening up new opportunities for Indian exporters, manufacturers, farmers, professionals and businesses. The agreement provides 100% duty-free access to the New Zealand market for all Indian export tariff lines, removing peak tariffs of…

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Nepal bans Priyagold biscuit after FSSAI finds serious hygiene deficiencies

Nepal has barred the import, sale and distribution of Priyagold biscuits made by India based Surya Food and Agro Ltd, after food safety concerns flagged by Indian authorities.Nepal’s Food Technology and Quality Control Department (FTQCD) announced the restrictions in a notice issued on Monday, classifying the biscuits as sub-standard. The move follows action by the…

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Gold price prediction today: Why gold prices are likely to be range-bound; check October 20, 2026 outlook

Spot gold is drawing some support from buoyant US treasuries and reduced possibility of October Fed rate hike. Gold price prediction today:Gold prices are finding some support but the upside is capped by high crude oil prices, says Praveen Singh, Head Currencies and Commodities, Mirae Asset ShareKhan. Here’s his detailed analysis: Gold Performance: Spot gold…

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Husband and wife sell property; Income Tax dept alleges Rs 3.30 crore sale against Rs 1.60 crore in deed, cites WhatsApp chats, Excel sheets to claim Rs 1.70 crore cash receipts, but ITAT gives relief

The AO treated the alleged amount as undisclosed cash receipts and made an addition under Section 69A. (Image for representative purpose only) Property related transactions can sometimes be complicated. Recording the same in your income tax return is equally important. But what if the Income Tax Department sends you a notice for unexplained cash receipts,…

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Indian Railways cracks down on food quality issues after passenger complaints; IRCTC partners with QCI for surprise audits on trains and stations with digital evidence to speed up action

Officials said the decision to introduce independent inspections followed repeated passenger complaints. (Image for representative purpose only) The food quality on trains may see an improvement with the Quality Council of India (QCI) looking to appoint certified professionals to carry out independent, technology-enabled checks of food safety and hygiene at railway stations and aboard trains…

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