NEW DELHI: While sympathising with a young man from UP who will lose his govt job because of its adverse order over his not declaring a pending criminal case against him at the time of recruitment, Supreme Court on Monday emphasised that sympathy cannot supplant the law as such disclosure is not a simple procedural formality but a basic requirement for public service. “There is a maxim in law to the effect that ‘ dura lex, sed lex’, which means the law may be harsh, but the law is law,” a bench of Justices Sanjay Karol and N K Singh said while quashing the order of Allahabad HC which had held that the non-disclosure was of “trivial nature” and his appointment could not be set aside on that ground. “It is also a settled position in law that sympathy cannot supplant law. As such, while we acknowledge that loss of a govt job is not an easy loss to come to terms with, at the same time awareness of consequences is a necessary component of actions,” the bench said. “Proper and complete disclosure in applications for govt employment is not a simple procedural formality, but a basic requirement rooted in fairness, integrity and public trust. Govt posts attract hundreds, and often thousands, of applicants for a single vacancy, each competing under the same stated conditions; scrupulous vetting of every candidate becomes imperative and essential to ensure a level playing field and to protect the credibility of the selection process. When an applicant withholds information about criminal antecedents, it undermines this process by depriving the appointing authority of the opportunity to make a fully informed assessment of suitability,” the bench said. While the law recognises that non-disclosure, depending on the nature of the offence and accompanying circumstances, may not invariably be fatal to a candidature, it nevertheless remains a serious lapse. “The gravity is significantly compounded when the non-disclosure is repeated, as it ceases to be accidental or inadvertent and instead reflects deliberate concealment. Such strikes at the core of trust reposed in candidates for public service, where honesty and transparency are indispensable attributes, and justify a far stricter view by the authorities,” it said. In the case before it, the person was appointed as Sahayak Samiksha Adhikari, but his services were terminated after it was found there were two pending criminal cases against him, which were not disclosed by him in the form. He approached Allahabad HC, whose single as well as division bench quashed his termination, following which state govt moved SC.

US President Donald Trump on Tuesday announced a 25% tariff on countries doing business with Iran, stepping up pressure on Tehran over its violent crackdown on nationwide protests.Trump said the tariffs would take effect immediately. In a social media post, he wrote, “Effective immediately, any Country doing business with the Islamic Republic of Iran will pay a Tariff of 25% on any and all business being done with the United States of America.” “This Order is final and conclusive,” he added.

White House Press Secretary Karoline Leavitt had earlier said, “One thing President Trump is very good at is always keeping all of his options on the table,” adding, “airstrikes would be one of the many, many options that are on the table for the commander-in-chief. Diplomacy is always the first option for the president.”The US president has repeatedly warned Iran over its treatment of protesters and has threatened military action if the violence continues. On Monday, Trump said Washington was closely monitoring the situation and considering possible military retaliation. When asked how the United States would respond if Iran were to strike American military bases, he said, “we will hit them at levels that they’ve never been hit before.”Speaking to reporters aboard Air Force One, Trump said Iran appeared to be nearing a red line he had set, adding, “they’re starting to, it looks like.” Iranian President Masoud Pezeshkian accused the United States and Israel of attempting to destabilise Iran by fomenting unrest. While pledging that the government would hear public grievances, he warned against violent protesters and urged Iranians to stay away from “rioters and terrorists.”The decision comes as unrest continues across Iran, where activists say security forces have used deadly force against antigovernment demonstrators. At least 648 people have been killed since the protests began, with the toll expected to rise. More than 10,600 people have been detained over the past two weeks, according to the US-based Human Rights Activists News Agency.

NEW DELHI: Supreme Court Monday asked Election Commission to respond within a week to TMC MP Dola Sen’s plea accusing the poll panel of arbitrarily deleting more than 58 lakh names from West Bengal’s draft voters’ list by refusing to accept valid and permissible documents from people during the SIR exercise. Appearing for Sen, senior advocate Kapil Sibal said, “What is this happening? EC is sending instructions to various election officers through WhatsApp messages or through video conferencing. This is impermissible as all such instructions must be in writing to ensure transparency in the process of preparation of voters’ list.” A bench of CJI Surya Kant and Justice Joymalya Bagchi asked EC counsel Eklavya Dwivedi to respond to Sen’s petition by Saturday, and posted the matter for Jan 19. Sen has sought extension of Jan 15 deadline for submission of claims and objections to draft voters’ list. Calling EC ‘WhatsApp commission” for issuing instructions to election officers through the messaging platform and not through written orders, the MP said EC must be directed to accept permanent residence certificates, panchayat residence certificates and family registers as valid documents for inclusion in voters’ list. The draft electoral roll for Bengal was published on Dec 16, and 58,20,898 names were deleted, which the Rajya Sabha MP alleged was without any notice or personal hearing. She said there has been a precipitous decline from 7,66,37,529 voters after the Special Summary Revision of 2025 to 7,08,16,616 voters on the draft electoral roll. She said contrary to the SOP for SIR, in several assembly constituencies, deletion decisions with respect to voters categorised as absentee, shifted, dead and duplicate (ASDD) are being processed centrally and marked en masse as ‘Disposed – Form 7’ on the Electoral Registration Officer Net Portal. “Alarmingly, this appears to be occurring without physical verification, individual hearing or meaningful involvement of the EROs concerned,” she alleged. Sen said, “A majority of affected electors are women voters, whose surnames have changed post-marriage, leading to misclassification by algorithm used by EC; over 90% of the cases are mismatch in names attributable largely to failure of algorithm; minorities are largely affected by misclassification of algorithm.” As the final roll, scheduled to be published on Feb 14 (after closure of notice and hearing phase on Feb 7), Sen apprehended that the Bengal assembly elections will be immediately declared thereafter, and requested SC to direct EC to correct its voters’ list revision process and attempt to include all eligible voters.

DHAKA: Renowned Hindu musician and senior Awami League functionary Proloy Chaki has died in police custody in Bangladesh, with his family members accusing the prison administration of denying necessary medical care to the 60-year-old and rubbishing police’s claim that it was a “natural death”, reports Ahsan Tasnim.Proloy – held in a blast case linked to the 2024 anti-discrimination student movement that grew into the ‘July Uprising’ and led to Sheikh Hasina’s ouster as PM – died on Sunday night. The cultural affairs secretary of the party’s Pabna unit, Proloy was picked up by police from his house in Pabna’s Dilalpur on Dec 16 and later shown as arrested.Son: Proloy Chaki arrested in Bangladesh without any case Proloy Chaki’s death comes at a time when Bangladesh is in the grip of relentless violence against minorities, particularly Hindus, and groups, parties and institutions aligned with Awami League. Seven Hindus have died and properties of minorities targeted by arsonists since the lynching of Dipu Chandra Das in Mymensingh on Dec 18. Pabna jail superintendent Md Omar Faruk said Proloy had been suffering from multiple health complications, including diabetes and heart disease.

“He suffered a cardiac arrest and was first taken to Pabna General Hospital on Friday. Later, as his condition deteriorated, he was shifted to Rajshahi Medical College Hospital, where he died around 9 pm on Sunday,” Omar said, adding that “it is a natural death”. Proloy’s son Sony Chaki said, “My father was arrested despite not being named in any case at the time. He had been suffering from diabetes and heart disease for a long time. His condition worsened in jail, but authorities did not officially inform us.” “We rushed to the hospital after being informed by others, but he did not get proper treatment, which led to his death,” he said. Jail superintendent Omar has rejected the charges. Besides political identity, Pabna Sammilito Shangskritik Jote secretary Bhaskar Chowdhury said, “Proloy was a renowned singer and music director. He had also served as secretary of Shree Shree Ram Krishna Shebashrom.” Proloy was a prominent cultural activist of the 1990s, he said.

A US federal court in Chicago on Monday began hearing a second damages trial against Boeing over the fatal 2019 crash of an Ethiopian Airlines 737 MAX aircraft, as a Canadian plaintiff sought compensation for the loss of multiple family members in the tragedy.The case has been filed by Manant Vaidya, whose sister Kosha Vaidya and parents Pannagesh and Hansini Vaidya were among the 157 people killed when Ethiopian Airlines Flight 302 crashed in March 2019. Vaidya also lost his brother-in-law and two young nieces in the incident, AP reported.Jury selection in the case is expected to begin on Monday, with opening statements likely on Tuesday afternoon or Wednesday, according to court proceedings.“It is hard to believe that my entire family was wiped out in an instant incident in such a horrific way,” Vaidya said in a statement published on the website of his attorneys at Clifford Law Firm. “I still cry and my wife, Hiral, still cries when we think of the horror of the last moments of our loved ones’ lives.”The Vaidya family, which lived in Canada, was travelling to Kenya, the homeland of Kosha Vaidya, at the time of the crash.Relatives of Vaidya’s brother-in-law and nieces had filed a separate lawsuit against Boeing, which was settled out of court in July 2025.The Ethiopian Airlines crash followed a similar fatal accident involving a Lion Air 737 MAX aircraft in Indonesia in October 2018. Together, the two crashes claimed 346 lives and led to the worldwide grounding of the 737 MAX fleet. Investigations linked both incidents to the aircraft’s Maneuvering Characteristics Augmentation System (MCAS), a flight-stabilising software.Boeing has acknowledged responsibility for the crashes and issued apologies to the victims’ families.“Boeing is deeply sorry for the losses suffered by the families,” a company spokesperson said, adding that the company is committed to “fully and fairly compensate” the victims and has “accepted legal responsibility for the accidents.”“While we have resolved the vast majority of these claims through settlements, families are also entitled to pursue their claims through damages trials in court, and we respect their right to do so,” the spokesperson said.The trial comes weeks after a US jury in the same Chicago courthouse ordered Boeing to pay $28.45 million in damages to the family of an Indian victim of the 2019 Ethiopian Airlines crash.

The initial public offering of Bharat Coking Coal Ltd (BCCL), a Coal India subsidiary, was subscribed 33.6 times on the second day of bidding on Monday, reflecting strong demand from non-institutional and retail investors, exchange data showed.The Rs 1,071-crore issue received bids for 11,65,79,29,200 shares against 34,69,46,500 shares on offer, according to data available with the NSE, PTI reported.The portion reserved for non-institutional investors was subscribed 96.17 times, while the retail individual investor category was booked 26.90 times. The qualified institutional buyers (QIB) segment saw subscription of 1.44 times.The IPO was fully subscribed within minutes of opening for bidding on Friday.Ahead of the issue, Bharat Coking Coal Ltd had mobilised over Rs 273 crore from anchor investors, the company said on Thursday.The public issue — the first mainboard IPO of 2026 — will close for subscription on Tuesday. The price band has been fixed at Rs 21–23 per share, valuing the company at over Rs 10,700 crore at the upper end.As per the red herring prospectus (RHP), the IPO is entirely an offer for sale (OFS) of 46.57 crore equity shares by Coal India.The listing of BCCL is part of the government’s broader divestment strategy in the coal sector, aimed at unlocking value in Coal India’s subsidiaries and improving transparency through market-linked governance.In its prospectus, the company said the IPO would help it achieve the benefits of listing.Incorporated in 1972, Bharat Coking Coal Ltd is engaged in mining and supplying coking coal, with operations concentrated in the Jharia coalfields of Jharkhand and the Raniganj coalfields of West Bengal.The issue comes amid a strong primary market cycle. In 2025, companies raised a record nearly Rs 1.76 lakh crore through IPOs, surpassing the Rs 1.6 lakh crore mobilised by 90 firms in 2024 and the Rs 49,436 crore raised by 57 companies in 2023, supported by robust liquidity and resilient investor sentiment.

The TOI correspondent from Washington: US President Donald Trump is on the warpath against Venezuela, Cuba, Iran, Greenland — and the Federal Reserve. In a move that has rattled financial markets and political circles alike, the Trump administration’s Justice Department has launched a criminal investigation into Federal Reserve Chair Jerome Powell, marking an unprecedented clash between the executive branch and the nation’s central bank. The probe, confirmed late Sunday by Powell himself, centers on statements he made during June testimony before the Senate Banking Committee about cost overruns on a long-running renovation of the Federal Reserve’s headquarters in Washington, DC, which Trump has characterized as a scandal. This development comes as the President has repeatedly expressed frustration with the Fed’s reluctance to slash interest rates, a policy he claims is stifling economic growth.

The investigation, which Powell says began with grand jury subpoenas served to the Federal Reserve, threatens the chair with potential criminal charges—a move he described in a video message as “unprecedented” and a threat to the independence of the Federal Reserve. He insisted that the subpoenas are being used as a tool of political pressure, not because there is credible evidence of wrongdoing. The controversy has its roots in a multi-year project to renovate the nearly 90-year-old Marriner S. Eccles Building and adjacent offices, a project first approved by the Fed’s board in 2017. Originally projected to cost about $1.9 billion, the current estimate stands near $2.5 billion, reflecting inflation, supply chain disruptions, asbestos abatement, and unforeseen construction challenges.Trump, who appointed Powell in 2018 and whose second term began in January 2025, has repeatedly assailed the Fed for its refusal to cut interest rates as aggressively as he desires. Lower interest rates are widely popular with investors and borrowers because they reduce borrowing costs and can stimulate economic growth—a key element of Trump’s economic strategy. But the Fed, tasked with controlling inflation and maintaining long-term economic stability, has kept rates at levels it deems appropriate given lingering inflationary pressures.Trump’s criticism of Powell intensified over the renovation costs after he took office last January. He has publicly derided the project as excessive and has even joked about firing Powell over it—though legally, the Fed Chair can only be removed “for cause,” and not at the president’s whim. Powell, in turn, has corrected the president’s public statements about the project’s costs, noting that Trump has, on occasion, overstated figures or conflated unrelated expenditures. Trump himself is splurging up to $ 400 million – from an initial estimate of $ 200 million – on a new ballroom attached to the White House, which critics say is over-the-top. The criminal inquiry was reportedly authorized last November by US. Attorney Jeanine Pirro, Trump’s appointee in the District of Columbia, and involves a review of Powell’s public testimony and internal spending records. Officials familiar with the matter say prosecutors have contacted Fed staff seeking documents related to the renovation.The legal escalation has galvanized lawmakers across party lines, including some from the GOP. Republican Senator Thom Tillis, a member of the Senate Banking Committee, vowed to block all Fed nominations—including Powell’s potential successor, possibly Trump surrogate Kevin Hassett—until the investigation concludes, warning that the move undermines both Fed and Justice Department independence. Some Democratic lawmakers and economists have drawn parallels to historical assaults on central bank autonomy, cautioning that politicizing the Fed could erode market confidence and destabilize the broader financial system.Markets reacted swiftly. US. stocks fell sharply, with the S&P 500 sliding more than 1 percent on Monday before recovering, as investors grappled with the uncertainty. The US dollar weakened, and gold prices surged to record highs above $4,600 an ounce, a traditional safe haven during times of institutional stress. Analysts warn that any perceived encroachment on the Fed’s independence could inject long-term volatility into stocks, bonds, and currencies.Supporters of the investigation, particularly among segments of Trump’s political base, argue that Powell should be held accountable if he indeed misled Congress or mismanaged federal resources. Conservative commentators have characterized the central bank as an unaccountable “fourth branch” of government, and some have cheered Trump’s willingness to challenge it.But critics—ranging from mainstream economists to former Treasury officials—say the probe risks undermining the very foundation of US monetary policy. The Federal Reserve’s independence, established by law and respected by both Democratic and Republican administrations for decades, is widely credited with enabling policy decisions insulated from short-term political pressures. Eroding that independence could complicate efforts to tame inflation or respond to future recessions, with repercussions across the globe. Powell, whose term as Fed Chair is set to expire in May 2026, has vowed not to resign and to continue fulfilling the Fed’s dual mandate: price stability and maximum employment. “Public service sometimes requires standing firm in the face of threats,” he said, defiantly pushing back against Trump. As Washington wrestles with this extraordinary confrontation between the executive branch and a cornerstone of the economic establishment, investors and policymakers alike are watching closely. What began as a dispute over interest rates and construction costs has ballooned into a national debate over institutional independence, democratic norms, and the future of US. economic governance.

The requirement to issue TDS and TCS certificates is increasingly seen as redundant. (AI image)

India’s tax deduction at source (TDS) framework, originally designed as a mechanism to ensure steady revenue inflows and improve tax compliance, has over the years become a source of complexity, cash-flow stress and litigation for businesses. With the scope of TDS expanding almost every year, tax experts argue that the time is ripe for a comprehensive rationalization of withholding tax provisions.At present, the withholding tax system is marked by a multiplicity of rates and thresholds. TDS and TCS rates range from as low as 0.1 per cent to as high as 30 per cent, depending on the nature of the transaction. This fragmented structure increases the risk of compliance errors, often leading to disputes, interest and penalties.“The current withholding tax framework involves multiple TDS and TCS rates, which creates significant complexity and an increased risk of compliance errors. Excessive withholding also results in liquidity constraints for taxpayers and additional administrative effort to seek refunds,” said Rohinton Sidhwa and Amit Bablani, partners at Deloitte India, in their pre-budget booklet. Data released by the Central Board of Direct Taxes (CBDT) underlines the scale of the problem. Income-tax refunds have risen sharply from Rs. 1.92 lakh crore in FY21 to Rs. 4.76 lakh crore in FY25. A substantial portion of these refunds is attributed to excess TDS and TCS, resulting in blocked working capital for businesses and higher interest outgo for the government.The Finance Act, 2024 took some steps towards simplification by reducing several 5 per cent TDS rates to 2 per cent and aligning the TDS rate to 0.1% on e-commerce transactions with that on purchase and sale of goods. However, tax professionals point out that the underlying structure remains cumbersome with lack of uniformity.One key reform proposal is to leverage the nationwide GST framework to reduce duplication. Since GST already provides a robust, invoice-level reporting mechanism, experts suggest that TDS and TCS should be eliminated for transactions where GST is applicable.Deloitte India recommends:Using GST to reduce TDS/TCS compliance: With the implementation of a Pan-India GST framework, a unified tax reporting system already exists. This can be effectively used to reduce TDS/TCS compliance. It is recommended that TDS/TCS be eliminated on all transactions where GST is applicable (per the invoice). The Income-tax Department can obtain information and track these transactions as needed by mandating an appropriate information return from suppliers. Suppliers are already filing such returns (GST returns), so there will not be any additional compliance.Simplified categorization of withholding tax provisions: Withholding tax provisions should be consolidated into three broad categories, as follows:

Experts also flag the need to ease procedural burdens. The requirement to issue TDS and TCS certificates, for instance, is increasingly seen as redundant in an era where tax credits are reflected electronically through Form 26AS and AIS. Removing this obligation could significantly reduce compliance costs, especially for small and mid-sized businesses.Perhaps most contentious is the continued use of stringent prosecution provisions (Three months up to seven years) for delays in depositing TDS and TCS, even where taxes have been paid voluntarily along with interest. While the law provides for relief in cases of reasonable cause, industry feedback suggests that prosecution is often initiated mechanically, causing undue hardship.As India’s tax administration becomes increasingly data-driven, experts argue that the emphasis should shift from excessive withholding and penal action to trust-based compliance. A simpler, more predictable TDS regime could ease cash-flow pressures, reduce litigation and ultimately make tax compliance less adversarial—benefiting both taxpayers and the exchequer.