Filmmaker Boney Kapoor's consortium company has secured 230 acres in Sector 21 to build Film City in Noida. The project includes commercial and film industry zones, a film institute, and advanced facilities like a signature tower with observation decks and a cinema museum. Construction is expected to be completed in three years.
Bombay High CourtHSBC Bank Carrying On Bona Fide Banking Business In Mauritius Exempt From Tax In India: Bombay High Court Case Title: Commissioner of Income Tax Versus M/s. HSBC Bank.
Even though the department had the authority to dispute the residential status of the assessee merely on the strength of the Tax Residency Certificate (TRC), it was incumbent upon the department to make a proper inquiry and to establish the fact that the party claiming benefit and the strength of the TRC was a shell or conduit company.