Payments Received Towards Interconnectivity Utility Charges From Indian Customers Is Not Royalty: ITAT Case Title: M/s. KDDI Corporation Versus The Deputy Commissioner of Income Tax.
Shriram Properties Limited (SPL) has acquired a 4 acre land parcel in Chandapura, near Electronic City in Bengaluru, to develop residential communities. The project, expected to generate revenue over Rs 259 crore, will cover 4 lakh sq ft and include 350 apartments. SPL plans to launch the project during FY25
While referring to the decision of Chennai Bench of Tribunal in the case of M/s. Shriram Properties Limited (ITA No. 431/Chny/2022), the Mumbai ITAT held that the notional interest income credited.
The company is looking forward to launching at least 5.3 msf by the end of FY24 comprising about 5,000 units. The company sees strong growth in the affordable segment, plus the standard growth in demand in all the mid-market and luxury segments.