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tax on subsidies: Serum Institute of India challenges tax amendment in SC; claims capital subsidies as non-taxable

Vaccine manufacturer Serum Institute of India (SSI) has filed a challenge to the Supreme Court against a 2016 amendment to the Income Tax Act that made subsidies, grants, waivers, concessions, or reimbursements by the Centre or states or incentives in cash or kind as taxable. The amendment had inserted sub-clause (xviii) to Section 2(24), which defines taxable "income". The case was filed under the Package Scheme of Incentives-2013, which provided various incentives to major industries...
Arvind Datar Justice Dy Chandrachud Challenging The Bombay High Court Supreme Court Serum Institute Of India Bombay High Court

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National News: Padmanabhaswamy temple facing great financial constraints, panel tells SC

Padmanabhaswamy temple facing great financial constraints, panel tells SC : Rashtra News #Padmanabhaswamy #temple #facing #great #financial #constraints #panel #tells It seeks joint audit of temple and trustโ€™s accounts. The Administrative Committee of the Sree Padmanabhaswamy temple in Thiruvananthapuram informed the Supreme Court on Friday that the temple was passing through โ€œvery difficult timesโ€ financially
Sree Padmanabhaswamy Vinod Rai Gopal Subramanium Arvind Datar Justiceuu Lalit Shyam Mohan

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