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Should You Upgrade To Note 3?

If you’ve been using Samsung’s Galaxy Note II, the flagship stylus-based large smartphone, you won’t be able to help wondering whether you could make a good thing better by saying goodbye to the Note II and moving on to the newest version, the Note 3, recently launched in September. This time, wonder of wonders, it really does seem as if Samsung has been listening and has taken every little thing about the Note II and made it better. Well, almost. Here are the pros and cons to help you decide whether to take the plunge and get the new Note, or be happy with the one you have.Reasons To UpgradeEvery Hardware Spec Has Been Boosted: From the screen to the battery, the processor to the camera, everything is more, more, more on the Note 3. Even if you’re not a specs junkie and realise that ultimately the proof of the pudding is in the using, the boosted hardware makes an immediate and significant impact. The screen is miles better. If you look at the two Notes side by side, you’ll see the more refined, sharper screen of the Note 3 in all its 5.7 inch 1080 x 1920 pixels glory. It isn’t a perfect display and doesn’t look as sharp and crisp as some, but it’s a massive difference from the Note II, and the screen is often the one thing that makes everything feel different. But of course, everything else is also different and the smartphone performs at top level with its Exynos 5 Octa 5420 chipset, 3 GB of RAM, 32GB storage space, and Android 4.3 running smoothly, carrying along an updated TouchWiz (Samsung’s interface and features). The camera, which is now a 13MP primary and 2MP front-facer, is much more capable and has a few tricks up its sleeve to boost low-light images – as long as you stay still and your subject does as well. There are a few annoyances though, but we’ll come to that in a bit.The hardware improvements include a Bluetooth 3.0 for faster charging and transfer of data, depending on what’s at the other end. The S-Pen, Samsung’s stylus, has also improved and even goes into its slot any way you care to insert it, a thoughtful refinement that many will appreciate. And finally, the glossy plastic back has been replaced with a faux leather panel which looks nowhere near as bad.The Ergonomics Are Up: The Note 3 has more powerful chops than its predecessor and yet is thinner and lighter and somehow much easier to hold. It also has a better grip to it because the slippery back has gone. If you use the flip cover, the advantage is retained because that too is textured. And believe me, that little bit of difference in grip is important and can mean someone can or cannot knock the device out of your hand as they pass by. All in all, the Note 3 being a little larger actually doesn’t feel it or even look larger than the Note II. The optional flip cover has a window through which you can see and receive or reject calls, view messages or even take pictures and notes. When you’re in a big hurry, that cover adds to the ease with which you can be on calls.It’s obviously difficult to use a device as large as the Note 3 one-handed, but Samsung has tackled this problem with software. You can use the now enhanced one-handed operation features to create a phone within a phone,. Apps such as the dialer, browser, calculator etc can be squeezed into a phone window that can be used with one hand – until you’re ready to go back to the original size.Air gestures and voice command features also add to the improved ergonomics on this device. While there are some of these features on the Note II as well, they’ve been enhanced. Just waving your hand in the proximity of the screen will let you move to the next photo in your gallery, for example. Such features were on the S4 well before they appeared on the Note 3, and well, some people like them while some find them far too gimmicky. So whether you welcome them or not depends on which category you fall into.Also adding to the ergonomics is the adjustable sensitivity of the screen. You can use the phone with gloves on and you can interact with the screen through the plastic window of the flip cover.More Features To Explore: If you love discovering new things to do with gadgets, the Note 3 is really up your alley as Samsung is most fond of packing a device with features. There’s no pressure to use them and you can choose to keep it simple until and instead just explore new features at leisure. This is one of the most enjoyable aspects of the Note 3. For example, I chanced upon a feature on the S Note app that lets you record your drawing. I have no immediate use for it, but it was fun finding it and setting it aside for a time when I might want to explain something with a drawing that unfolds.There are new features tucked into every corner of this smartphone, in settings, with apps, and so on. This is one of the more future proof aspects of the device.You Can Accessorize It: The Galaxy Gear, Samsung’s smartwatch and companion to the Note 3 (optional buy) is, according to many, still a concept that needs much refining. But should you count yourself as an early adopter, then you have the option of adding more uses and features via accessories like the Galaxy Gear which will hold apps that will give you quick access to information and functions on your phone without your having to reach for it. You can also add accessories to start to explore the health and fitness tracking features that are becoming popular on smartphones. These come at a cost, of course. The Galaxy Gear costs approximately Rs 23,000, but for those who really enjoy technology to the hilt, nothing is too much.Capable Camera on Board: The Note 3’s camera does have a few annoyances such as continuously auto focusing that doesn’t lock manually, no optical image stabilisation, and none of the 4k video recording that is on the Snapdragon version not available in India. But it’s a 13MP all rounder which, for a change, shows a clear difference from previous 8MP shooters. The front facing 2MP also leads to some pretty nice self shots and clearer video calls. There are various modes like beauty shot, sports etc but also some special ones such as shooting to capture an animated photo, an image with a bit of sound, and a drama mode which takes frozen inter-action images. There’s also a golf mode with which you can examine a golf swing repeatedly.On the Note 3, the camera boosts ISO to take lit up shots in low light and reduces noise. There’s digital image stabilisation but you do often get blurry pictures if you or the subject moves. It’s still an enjoyable camera for casual photography of the phone variety and it does a better job than most other non-specialist phones. In daylight, the photos are crisp and in nice colour. And there’s an HDR or rich tone mode for greater depth.The Note 3 is a top-of-the-line gadget today but for users of the Note II, it’s a want-to-have rather than a must-have device….Reasons To Stick With The Note IIA Steep Price: If you’ve paid for the Note II, it will almost certainly feel like paying twice for the same thing. Despite the improvements. At Rs 47,990, (though you may find it for less)  the Note 3 is a hefty sum unless money is no object – or unless you can’t resist the lure of new features. We easily refer to a new version as an upgrade, but when we’re paying for another device, it’s a whole new clump of cash and a new purchase not an upgrade at all. So, if you decide not to pay all over again – or just yet – rest assured that you still have a perfectly good device. As long as you keep it free of lag by resetting it and not overloading it with data and apps, it will easily give you at least a year of productive work until you perhaps feel you need to catch up with specifications and features that have moved on ahead. This is specially the case with the Note II as it’s a productivity focused device rather than a gamer’s gadget or an ordinary phone with high performance. If you work a lot with your Note II, it will continue to be useful to you for quite a while.Simplicity Wins: If you’re focused on productivity, and so the right target customer for the Note series, you’ll value familiarity and simplicity. Having become accustomed to the Note II’s apps and interface, you may find one of two things on the new device more complex, though one can get used to anything. The S-Note application is simpler and feels more natural than its equivalent on the Note 3. The handwriting mode, for example, is easier on the eye on the Note II, and it’s easier to use. Pulling out the S-Pen brings up a pop-up Note on the Note II but on the Note 3 you have further options to become habituated to. Google Now is up front when you long-press on the capacitive button on the Note II, but on the Note 3 you have a comprehensive search feature. If you’re not currently ready to give new features your time and attention, you’re by no means badly off with the Note II.Hardware Specs Are Not Everything: The battery on the Note 3 has just a little more juice than the Note II’s, but having used the Note II since it launched, I found it was consistent and gave me a steady one and a half days of use between charges – if I left it alone while I slept. The Note 3 is still being seasoned, but in practical use isn’t making a significant difference. The processor is more powerful now and there’s a whole 3GB of RAM, but you can make any Android device currently available laggy if you stuff it with apps and force it to retrieve large amounts of data on app start up. The Note II still has enough wherewithal to work quite smoothly if it’s treated well.Also A Capable Camera: The camera is indeed much better on the Note 3 but its style of auto focusing continually is not easy to get used to. Also gone is the night mode or low-light mode, now replaced with a digital image stabilization measure which fills an image in low light with brightness but is a little more prone to softness. On the other hand, the Note II’s camera has more noise and grain in low light images, but also a little more sharpness. A dedicated macro mode has also gone. In sum, the Note II’s camera isn’t bad and one of the best in the 8MP category, specially in daylight.On a spec to spec comparison, the Note 3 would obviously win out, but the trade off is a big expense. The Note II is still desirable enough to offer a good alternative to those buying a member of this series for the first time as it can be brought for between Rs.27,000 and 30,000 or so. Both are win-wins for Samsung as well as consumers.mala@pobox.comTwitter: @malabhargava 

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Rahul Gandhi Seeks More Time To Respond To EC Notice

Congress Vice President Rahul Gandhi on Monday, 4 November, sought a week's more time to reply to the model code violation notice by the Election Commission for his remark that Pakistani's ISI was in touch with Muzaffarnagar riot victims, citing his prior travel commitments and holidays due to the festive season.Gandhi, who was asked to reply to the EC notice by 11.30 AM today, said in his communication to Chief Election Commissioner VS Sampath that he wanted more time to respond since there were holidays due to the festive season.He said he had received the EC notice only at 9.30 PM on October 31 and hardly had time to consult his lawyers on the issue.The Congress leader also cited prior travel commitments for not responding the notice within the stipulted time.EC sources said the Commission is considering Gandhi's communication.The EC had issued a notice to Gandhi for his speeches in which he had said Pakistan's ISI was in touch with Muzaffarnagar riot victims and charged BJP with indulging in politics of hatred.The Commission, after examining Gandhi's speeches made in Churu, Rajasthan, on October 23 and in Indore, Madhya Pradesh, on October 24 and after taking into account the electoral officer's report, had asked him to explain by Monday why action should not be initiated against him for prima facie violating the Model Code of Conduct."The Commission is prima facie of the view that your aforesaid speeches are violative of above-referred sub paras (1), (2) and (3) of Para 1 of the Model Code of Conduct for political parties and candidates," the EC notice served on him had said.Rajasthan and Madhya Pradesh are among five states which go to Assembly polls in November-December this year.The Commission has said that in case no reply is received within the prescribed time limit, it will be presumed that he has nothing to say and it will proceed to take appropriate action without any further reference.(PTI)

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Gold Shines, Silver Loses Lustre

Gold staged a modest rebound on Sunday, 3 November, after its uninterrupted six-day losing streak while silver failed to glitter during the Muhurat session at the domestic bullion market in Mumbai. "Jewellery stockists and retail investors made token purchases of gold to mark the beginning of the new Hindu Samvat year 2070," a bullion trader said. The industrial metal - silver - dropped owing to sluggish demand as well as lack of buying support. Standard gold (99.5 purity) edged up by Rs 30 to finish at Rs 30,400 per 10 grams from Saturday's closing level of Rs 30,370. Pure gold (99.9 purity) also gained by a similar margin to end at Rs 30,550 per 10 grams from Rs 30,520. Silver ready (.999 fineness), however, slumped by Rs 130 to conclude at Rs 49,665 per kilo as compared to Rs 49,795 on Saturday. (PTI) 

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Proposed UK Visa Bond Scheme To Be Scrapped

The controversial 3,000-pound "security bond" for some "high-risk" foreign visitors to the UK, including those from India, is to be scrapped, the Home Office has confirmed. The scheme, announced by Home Secretary Theresa May in June, was to come into force this month. A Home Office spokesman confirmed a Sunday Times report that the policy would be scrapped. Hugo Swire, Britain's Minister of state for Foreign and Commonwealth Affairs told PTI recently that "no decision was taken on the visa bond scheme". The decision is thought to have been taken after Deputy Prime Minister Nick Clegg threatened to block it. India had also expressed its concern to the UK government both at the ministerial and official levels. The aim of the scheme was to reduce the number of people from some "high-risk" countries -- including India, Pakistan, and Nigeria -- staying in the UK once their short-term visas expired. Visitors would have paid a 3,000-pound cash bond before arrival in the UK that would have been forfeited if they failed make the return trip.  (PTI)

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Countdown Begins For India's Mars Orbiter Mission

The 56 and-a-half hour countdown for the launch of India's first space mission to Mars, slated for November 5, commenced on Sunday, 3 November, at the Satish Dhawan Space Centre in Sriharikota. "The 56 hours and 30 minutes countdown started as per schedule at 06.08 AM. It is proceeding smoothly," a spokesman of the Indian Space Research Organisation (ISRO) told PTI over phone this morning. ISRO's workhorse launch vehicle PSLV C25, carrying India's first inter-planetary satellite Mars Orbiter Mission, is scheduled to lift off at 2.38 pm on November 5 from the spaceport of Sriharikota, some 100 km from here. The Launch Authorisation Board had on November 1 given its consent for the launch of the MOM after the successful conduct of a launch rehearsal the previous day. The rocket is expected to take over 40 minutes to inject the satellite into Earth's orbit after the take off. The vehicle tracking stations at Port Blair, Bylalu near Bangalore, Brunei and sea-borne terminals on board Shipping Corporation of India's vessels SCI Nalanda and SCI Yamuna positioned at South Pacific Ocean have also been kept on alert, ISRO sources said. Once launched, the satellite is expected to go around the Earth for 20-25 days, before embarking on a nine-month voyage to the red planet on December 1 and reach the orbit of the Mars on September 24, 2014. If India succeeds in the Rs 450-crore MOM mission, it would be the fourth in the world, after the US, Russia and Europe to do so. European Space Agency (ESA) of European consortium, National Aeronautics and Space Administration (NASA) of the US and Roscosmos of Russia are the three agencies which have successfully undertaken missions to the red planet so far. Though there have been 51 missions to the Mars, only 21 of them have been successful.(PTI)

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Asia Factory Activity Picks Up; India Remains A Worry

Asia's factory sectors grew at their fastest pace in months in October led by China, providing some signs of a pick up in global demand as export orders expand.China's official purchasing managers' index (PMI) rose to an 18-month high and South Korea's HSBC index pointed to expansion for the first time in five months. Taiwan's PMI reached its highest level since March 2012, Indonesia's index hit a four-month high and Japan's PMI rose to its strongest level in well over three years.The major Asian economies of China, Japan, South Korea and India reported new export orders expanding simultaneously for the first time since May, which economists attributed partly to brighter prospects in Europe."Overall, the data is positive for global demand," said Radhika Rao, an economist with DBS in Singapore. "There are reasons to be optimistic, but cautiously optimistic," she said.The surveys provide a more upbeat view of world demand following a month in which a political standoff in Washington over the U.S. debt ceiling and the sixth straight cut in IMF global economic forecasts had raised fresh concerns about the health of the global economy.India was the exception among a group of generally upbeat PMI reports in Asia. Although new exports orders picked up sharply, the HSBC PMI for India showed manufacturing activity shrank for a third straight month, a further sign of a slowdown in Asia's third-biggest economy.HSBC's chief economist for India, Leif Eskesen, said inflation suggested the central bank, the Reserve Bank of India (RBI), would not have room to provide any support for growth."Input price inflation accelerated further despite the weak growth backdrop, as the effects of the depreciated exchange rate continue to pass through. This suggests that the RBI has to continue its staring contest with inflation," Eskesen said.China's official PMI rose to 51.4 in October from 51.1 in September, topping expectations for a reading of 51.2.A similar report from HSBC/Markit increased to 50.9, a seven-month high. It showed a tick up in the pace of new domestic and export orders, as well as the first increase in employment in seven months.China's reassuring PMI reading limited losses in Asian stocks, which were under pressure after strong U.S. data added to uncertainty over when the U.S. Federal Reserve might begin to ease back on its stimulus.The HSBC/Markit PMI for South Korea showed factory activity expanded for the first time in five months in October and a separate report said the value of exports in the month handily beat expectations to hit a record high of $50.5 billion.Factory activity in major exporter Taiwan, key to many global tech supply chains, was running at its fastest pace since March 2012.Japan reported on Thursday that its factory activity grew at the fastest pace in more than three years as the Markit/JMMA PMI rose to a seasonally adjusted 54.2, adding to hopes that the world's third-largest economy and home to big brand names like Sony and Toyota is pulling out of two decades of stagnation.India's HSBC PMI compiled by Markit was unchanged at 49.6 in October, indicating the sector was contracting.The downbeat data did little to shake stock market sentiment though. The main share index hit a record high fuelled by foreign money flowing into the country.(Reuters) 

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Jobs On The Line As Gold Sector Suffers Under Curbs

Squeezed by government rules meant to curb a surge in gold imports, India's bullion industry is shrinking, with banks and others opting to redeploy personnel for now but possibly facing big job cuts in coming months.Refiners, jewellery manufacturers and retailers say they could start cutting jobs after Diwali, one of India's biggest festivals, in the first week of November as festive demand will have sucked supply dry. Some have already begun to do so.Gold on the local market is now fetching a record premium of $130 an ounce to the global bullion price and that is expected to climb even higher because of coming festivals.Bullion banks, who profited from huge volumes of gold imports until May, have begun shifting people from their gold desks to other teams."There is no gold coming in so how do we carry on? Consolidation is happening at the moment in the industry," said the head of one of India's biggest jewellery chains, speaking on condition of anonymity. He said he had cut "tens of jobs" at his firm.Gold is the second-biggest item on India's import bill after oil and, facing a record trade deficit and a plunging currency this year, the government imposed stringent rules with the aim of curbing demand for the metal.These have slowed imports to a trickle: a mere 7 tonnes arrived in September versus a record high of 162 tonnes in May.One of the new rules stipulates that 20 per cent of imported gold has to be re-exported. Exports currently equate to less than 10 per cent of imports, which means it will be hard to meet the country's estimated demand of 1,000 tonnes this year."It will get difficult for a jeweller to replenish gold after festivals. We are anticipating a transfer of workforce from the jewellery sector to others," said Bachhraj Bamalwa, a director at the All India Gems and Jewellery Trade Federation.He said around 15 million people worked in jewellery manufacturing plus 1 million in sales, and that a quarter of them could lose their jobs if supply problems continued, an alarmist forecast that might put pressure on the government to rethink the import restrictions.About 300,000 to 400,000 artisans from Zaveri Bazaar, India's biggest bullion market, have already moved back to their villages due to a lack of work, according to Bombay Bullion Association director Kumar Jain.India has a population of 1.2 billion.No U-Turn In SightBanks may be holding back until they see what a new government does after national elections due by May."They won't take a decision on job cuts as of now, but will wait until June next year to take the call after the new government is formed," said a source at a global supplier who is in regular contact with Indian importers.In the meantime, some banks have opted to transfer personnel to other trading desks rather than sack them.An employee with a private bank who was recently asked to move from the bullion desk to currency trading said: "We started the trading desk when demand was good, when there were no restrictions, but now the business has lost its charm. So management has taken steps according to the revenue stream."All five people on the desk have been moved to currencies, this employee said.Two other private banks, which imported a combined 100 tonnes last year, have redeployed a total of 10 people.Bank of Nova Scotia is the biggest gold importing bank in India. Private banks such as HDFC Bank and IndusInd Bank and state-run banks also import.For now, there's no sign of the government backtracking.The Finance Ministry sent a letter to banks reiterating the rules last week, one banking source said, and three ministry officials said there were no plans to relax the restrictions.Overseas banks and trading firms that supply to Indian importers have felt the impact and are shifting business elsewhere."Once a destination like India is being restricted, of course we will divert all our attention to China," said Bernard Sin, senior vice president of Geneva-based gold dealer MKS SA.China is set to overtake India as the world's biggest consumer of gold this year, due in part to the curbs in India. (Reuters)

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Petrol Price Cut By Rs 1.15; Diesel Hiked By 50 Paise

Petrol price was cut by Rs 1.15 a litre on Thursday, 31 October, the second reduction in rates in a month, while diesel prices were raised by 50 paise per litre. Jet fuel or ATF prices were cut by a steep 4.5 per cent, the first reduction in rates in six months.The price changes announced by oil companies are excluding local sales tax or VAT and will be effective midnight tonight, oil companies announced.Petrol price in Delhi will be cut by Rs 1.38 to Rs 71.02 per litre, while it will cost Rs 78.04 a litre in Mumbai as against Rs 79.49 currently.The reduction comes on back of a Rs 3.05 per litre (Rs 3.66 after including VAT) cut in rates effected from October 1.Prior to that, petrol prices had since June risen seven times, totalling Rs 10.80 per litre, excluding VAT (Rs 13.06 after including state tax) as the rupee depreciated sharply against the rupee.In a parallel move, diesel price was hiked by 50 paise, excluding VAT, in line with the January decision of the government allowing oil companies freedom to raise prices in small doses every month to wipe out mounting losses.The diesel price in Delhi has been hiked by 56 paise to Rs 53.10 per litre while it would cost Rs 60.08 in Mumbai from tomorrow as compared to Rs 59.46 currently.Today's hike is the 10th since the January 17 and most of the losses on diesel sales should have been wiped out by now to make the fuel market priced. But the fall in rupee, around 25 per cent since April, has worsened the situation and losses mounted to Rs 14.50 per litre.However, the recent firming of rupee against US dollar and monthly increases have trimmed these losses to Rs 9.58. Diesel rates have risen by a cumulative Rs 5.95 this year."Prices of petrol were last revised downwards on October 1 by Rs 3.05 per litre (excluding state taxes) on account of softening of prices in international markets as well as strengthening of the rupee."Since last price change, international prices of petrol have declined marginally from about USD 113 per barrel to about USD 112. The Rupee-USD exchange rate has appreciated from around Rs 63 to a US dollar to around Rs 62. Both these factors have resulted into a reduction in prices of petrol," Indian Oil Corp, the nation's largest fuel retailer, said in a statement.IOC said exercising the January authorisation to increase the diesel prices within a small range every month, retail prices are being revised every month and today rates have been hiked by 50 paise per litre."Even after the current increase, under recovery (revenue loss) on retail diesel shall stand at Rs 9.58 per litre," it said.Besides diesel, oil firms are losing Rs 35.77 per litre on sale of PDS kerosene and Rs 482.50 per 14.2-kg domestic cooking gas (LPG). These are lower than Rs 38.32 and Rs 532.50 loss incurred last month.At current rates, IOC projected a revenue loss of Rs 71,200 crore on sale of diesel, domestic LPG and kerosene for the full 2013-14 fiscal. The industry (IOC plus other state fuel retailers HPCL and BPCL) are projected to incur an under recovery of Rs 135,900 crore."The movement of prices in international oil market and Rupee-USD exchange rate is being closely monitored and developing trends of the market will be reflected in future price changes," the statement added.Alongside, oil firms also cut rates of non-subsidised domestic cooking gas (LPG) that households buy after exhausting their quota of 9 subsidised or cheaper cylinders.Price in Delhi was reduced by Rs 49.50 per 14.2-kg bottle to Rs 954.50.This reduction comes on back of Rs 71.50 per cylinder hike to Rs 1,004 effected from October 1.Non-subsidised LPG in Mumbai will cost Rs 969 from tomorrow as compared to Rs 1,021 currently.Jet Fuel Prices Cut 4.5%Jet fuel or ATF prices were today cut by a steep 4.5 per cent, the first reduction in rates in six months.ATF prices had touched a life time high of Rs 77,089.42 per kilolitre (kl) following five consecutive increases since June as rupee depreciated against the US dollar, making oil imports costlier.However, the rupee's appreciating during last month helped trim imported cost, leading to cut in prices.Aviation Turbine Fuel, or ATF, price at Delhi was cut by Rs 3,482.16 per kl, or 4.5 per cent, to Rs 73,607.26 per kl, according to Indian Oil Corp, the nation's largest fuel retailer.Rupee appreciation against US dollar also led to two rounds of reduction in petrol rates in one month - Rs 3.05 a litre from October 1 and Rs 1.15 announced today.Since June, ATF prices have gone up by a record Rs 14,439.45 or 23 per cent in five instalments.In Mumbai, jet fuel will cost Rs 76,035.89 per kl from tomorrow as against Rs 79,716.05 per kl currently.Rates at different airports vary because of difference in local sales tax or VAT.Jet fuel constitutes over 40 per cent of an airline's operating costs and the price cut will help bring down the fuel cost of the cash-strapped carriers.No immediate comments were available from the airlines on the impact of the price reduction on passenger fares.The three fuel retailers -- IOC, Hindustan Petroleum and Bharat Petroleum -- revise jet fuel prices on the 1st of every month, based on the average international price in the preceding month.(PTI) 

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IT Defaulter Cannot Be Absolved Of Penalty

An income tax defaulter cannot be absolved of paying penalty by just making a voluntary disclosure after being caught for hiding the income, the Supreme Court has said."It is trite law that the voluntary disclosure does not release the assessee from the mischief of penal proceedings.The law does not provide that when an assessee makes a voluntary disclosure of his concealed income, he had to be absolved from penalty," a bench of justices K S Radhakrishnan and A K Sikri said.The apex court dismissed the plea of a company challenging the income tax department's penalty proceedings against it for not disclosing the income.The company MAK Data P. Ltd.contended it had "surrendered" the additional sum of Rs.40,74,000 after the assessing officer issued notice to it with a view to avoiding litigation.The department had initiated penalty proceedings for concealment of income and not furnishing true particulars of its income.The company contended "penalty proceedings are not maintainable on the ground that the AO had not recorded his satisfaction to the effect that there has been concealment of income/furnishing of inaccurate particulars of income by the assessee and that the surrender of income was a conditional surrender before any investigation in the matter".The bench, however, was not satisfied and rejected the plea saying voluntary disclosure of concealed income cannot be a ground to absolve it from penalty.(PTI)

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Sonia Gandhi: 3rd Most Powerful Woman In Forbes List

Congress president Sonia Gandhi was ranked 21st among the world's most powerful people by Forbes magazine, making her the third most influential of women leaders included in the list.German Chancellor Angela Merkel and Brazilian President Dilma Rousseff were the only women who figured ahead of the 66-year-old Gandhi in the list of 72 politicians, heads of state and business leaders. Gandhi was also ahead of Prime Minister Manmohan Singh, who came in seven slots below her.In a separate list of the world's 100 most powerful women, Forbes ranked Gandhi in the ninth position."As president of the Indian National Congress, Gandhi heads the ruling political party of the world's second largest population," read her brief profile on the Forbes website."Rumours persist of a rift between her and soft-spoken Prime Minister Manmohan Singh, with many expecting Singh to leave office before the 2014 general elections," it said.The profile noted that Rahul, described as the "heir apparent in the nation's most famous political dynasty", had recently "snubbed Singh publicly".Singh's profile noted that the 81-year-old Prime Minister was "credited with shaping India's economic and social welfare reforms". But it also said his "quiet intellectualism renders him a timid public figure".Rahul's recent criticism of Singh over an ordinance to protect convicted lawmakers was "indicative of Singh's diminishing coterie; rumour has it he will soon resign", the profile said. Soon after the criticism, Rahul had acted to mend fences with Singh. The Forbes list was topped by Russian President Vladimir Putin, who was followed in second position by US President Barack Obama."This year the votes for the World's Most Powerful went to Russian President Vladimir Putin. He climbs one spot ahead of US President Barack Obama, who held the title in 2012," the magazine said."Putin has solidified his control over Russia while Obama's lame duck period has seemingly set in earlier than usual for a two-term president ? latest example: the government shutdown mess." The most powerful people list is an "annual snapshot of the heads of state, financiers, philanthropists and entrepreneurs who truly rule the world", Forbes said.This year's list features 17 heads of state who run countries with a combined GDP of $48 trillion and 27 CEOs and business leaders who control over $3 trillion in annual revenues.(PTI)

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