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BusinessDuring a tax raid, officials found Rs 1.12 crore in Indian currency and foreign currency worth Rs 4.34 lakh. The man was questioned by tax authorities. Although the investigation team accepted his explanation, the Assessing Officer treated the recovered cash and forex as unexplained under Section 69A. The man later won the case at the Income Tax Appellate Tribunal with help from his sister-in-law.
TOI Business·
WorldYemen's Houthi rebels reported that Saudi forces launched 94 airstrikes in the past 24 hours targeting areas under Houthi control. This escalation occurs as the pro-Iran Houthis and the Riyadh-backed Yemeni government intensify their conflict in the ongoing civil war, with Saudi Arabia planning an assault to break the Red Sea blockade.
Firstpost World·
PoliticsCuban President Miguel Díaz-Canel condemned the United States for imposing new restrictions on privately-owned Cuban businesses while promoting private enterprise on the island. He discussed economic reforms allowing private firms more freedom, including hiring over 100 workers and accessing financial markets. Díaz-Canel rejected US claims that Cuba is a failed state and criticized ongoing sanctions described as an energy blockade.
HT World··Havana
SportsEngland fast bowler Brydon Carse has been charged by the Cricket Regulator for bringing the game into disrepute after a late-night incident in Derby in August. Carse was arrested on suspicion of being drunk and disorderly but later de-arrested. A police assault inquiry was closed without charges. The case is now with the independent Cricket Discipline Panel for adjudication under ECB regulations.
NDTV Cricket··Derby
BusinessCanada's Trade Minister Maninder Sidhu announced he will lead a 300-member business delegation to India later this month to explore opportunities in various sectors. India and Canada will resume talks on the Comprehensive Economic Partnership Agreement (CEPA) starting October 5 in Ottawa. The bilateral trade deal aims to increase trade to USD 70 billion by 2030, up from over CAD 30 billion currently.
Firstpost World·
TechnologyAir Marshal Jasvir Singh Mann, Air Officer Commanding-in-Chief of Southern Air Command, visited Bengaluru to review indigenous aerospace programmes. He toured the Aeronautical Development Agency and Hindustan Aeronautics Limited, discussing the LCA AF Mk-II and fifth-generation Advanced Medium Combat Aircraft (AMCA) projects. The AMCA programme will involve industry partners including Larsen and Toubro-BEL, Tata Advanced Systems, and Bharat Forge-BEML consortium.
The Hindu··Bengaluru
TOI Business·
During a tax raid, officials found Rs 1.12 crore in Indian currency and foreign currency worth Rs 4.34 lakh. The man was questioned by tax authorities. Although the investigation team accepted his explanation, the Assessing Officer treated the recovered cash and forex as unexplained under Section 69A. The man later won the case at the Income Tax Appellate Tribunal with help from his sister-in-law.
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