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Tata Chemicals gets relief from Income Tax Appellate Tribunal in logo fee case SECTIONS Share Synopsis Under the ‘Tata brand equity and business promotion agreement’, which dates back to January 1999, this company, like others in the Tata fold, have to pay a certain percentage of their annual profits to Tata Sons, as a ‘premium’ for using the TATA logo. Accordingly, in FY03 (the year in dispute), Tata Chemicals paid 0.25% of its profits (Rs 3.7 crore) to Tata Sons. (Representative image) (This story originally appeared in on Feb 22, 2021)The Mumbai bench of Income Tax Appellate Trib...

ET Panache NEWS Powered by Suits & Sayings: FMCG bigshot goes IPL-shopping; PE boss gets protective about big deal; fire dampens mood at luxe realty show The perfect night at the 76th floor of a new mid-town skyscraper was disrupted after a fire at a restaurant below created a flutter among the guests. Synopsis The IPL auction meant padding up well in advance to fine-tune strategy. ET’s weekly roundup of the wackiest whispers and murmurs in corporate corridors & policy parlours. Splurge & Play The recent IPL auction meant padding up well in advance to fi...

Tata Chemicals gets ITAT relief in logo fee case Top Searches Tata Chemicals gets ITAT relief in logo fee case Lubna Kably & Reeba Zachariah / TNN / Updated: Feb 22, 2021, 09:30 IST FacebookTwitterLinkedinEMail MUMBAI: The Mumbai bench of Income Tax Appellate Tribunal (ITAT) has allowed Rs 3.7 crore paid by Tata Chemicals for using the ‘TATA’ logo as a business deduction. Under the ‘Tata brand equity and business promotion agreement’, which dates back to January 1999, this company, like others in the Tata fold, have to pay a certain percentage of their annual profits to Tata Sons, as...

In her Budget speech for 2021-22, Sitharaman also announced that senior citizens above 75 years of age having only pension and interest income would not be required to file income tax returns. Banks paying the interest would deduct the tax on their behalf.

In a recent order, the ITAT bench, comprising Pramod Kumar, vice-president, and Saktijit Dey, judicial member, rejected the contention of the HDFC Bank employee that the ESOPs related to employment in Dubai and the income (perquisite value) did not accrue or arise in India and hence was not taxable in India.