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India Business News: The ITAT Mumbai bench has upheld the exemption of long-term capital gains on the sale of equity shares of an Indian company by Comstar-Mauritius. The shares were acquired prior to April 1, 2017, and the Mauritius entity had a valid tax residency certificate. The decision overturns the revisionary order passed by the Commissioner of Income-tax (Appeals). ....
The National Company Law Tribunal has deferred the hearing on the proposed Zee-Sony merger to June 26. The merger is aimed at creating a $10 billion media giant with the financial muscle to challenge online streaming platforms such as Netflix and Amazon in India. ....
In September 2021, Sony Pictures Networks India and ZEEL entered into a non-binding term sheet to bring together their linear networks, digital assets, production operations and programme libraries. ....