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Relief for Indigo: No additional tax on aircraft parts re-imported following repairs, says Delhi HC
Livemint
·
5m ago
Medial
The Delhi High Court has ruled against the Integrated Goods and Services Tax (IGST) levy on the repair cost of re-imported aircraft parts, offering relief to aviation companies like IndiGo. This ruling declared a part of the 2021 customs exemption notification unconstitutional, as it improperly expanded the tax scope. The court determined that re-imported repaired goods should be classified as an import of services, not goods, making them exempt from IGST under the Customs Tariff Act.
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Skoda consignments won't be stopped over $1.4 bn tax dispute: Govt to Bombay HC
Livemint
·
5m ago
Medial
The Indian government assured the Bombay High Court that Skoda Auto Volkswagen India’s consignments would not be halted over a $1.4 billion import tax dispute. Skoda challenges the classification of imported auto parts as completely knocked down (CKD) kits, which attract higher duties. The government argues the parts should be taxed at CKD rates. Skoda’s plea seeks to prevent customs from reclassifying past imports and requests an interim stay on the notice’s implementation.
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Delhi HC stays Rs 1,140 crore tax demand against Oyo - The Economic Times
Economic Times
·
28d ago
Medial
The Delhi High Court has stayed OYO's Rs 1,140 crore tax demand under the angel tax provision. The demand was based on investment from its holding company, Oravel Stays, deemed taxable income. OYO argues the funds are capital in nature. The court's decision offers relief amid claims of unreasonable assessment. Despite angel tax abolition in 2024, older cases face litigation, emphasizing the financial strain on companies due to aggressive tax interpretations.
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Budget 2024: Government eases norms for ship, aviation MRO industry
Livemint
·
1y ago
Medial
The Indian government plans to relax regulations for the aviation and shipping maintenance, repair, and overhaul (MRO) industry in order to establish India as a hub for such facilities and support the transportation sector. The proposed changes include extending the time limit for exporting goods imported for repairs from six months to one year and the time limit for re-importing goods for warranty repairs from three to five years. Experts believe that these changes will boost the MRO industry, enhance operational efficiency, and attract foreign players to India for repairs.
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Delhi HC relief for Godaddy in royalty case
Economic Times
·
1y ago
Medial
In a recent ruling, the Delhi High Court has stated that the fees received by GoDaddy.com for domain name registration cannot be treated as royalty under the Income Tax Act. GoDaddy.com argued that it was simply assisting customers in obtaining domain name registration and not engaging in licensing domain names. The court agreed, stating that the consideration received for such services cannot be classified as royalty. The ruling overturns the Income Tax Appellate Tribunal's decision and provides relief for GoDaddy.com.
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Delhi HC to decide on taxability of corporate guarantees
Livemint
·
1y ago
Medial
The Delhi High Court is set to rule on whether corporate guarantees provided by holding companies on behalf of their subsidiaries are taxable under the Central Goods & Service Tax Act. The case, brought by Sterlite Power Transmission, challenges the taxation of corporate guarantees and the valuation criteria set by the finance ministry. The court has granted relief to Sterlite Power Transmission, halting tax authorities from taking action until a judgment is passed. Corporate guarantees, a common business practice where a parent company guarantees the debt of a subsidiary, have resulted in tax demand notices being sent to Indian companies.
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Supreme Court stays Delhi HC order exempting Tiger Global from capital gains tax in Flipkart-Walmart deal
Economic Times
·
6m ago
Medial
The Supreme Court stayed a Delhi High Court decision exempting Tiger Global from capital gains tax during the Flipkart sale to Walmart. The HC had overturned an Advanced Ruling Authority's decision denying tax relief under the India-Mauritius treaty, citing tax avoidance. The SC issued a notice to Tiger Global and will hear the case on February 18. The HC previously supported treaty protections for Tiger Global, rejecting claims of treaty abuse for setting up in Mauritius.
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Centre orders IndiGo to exit Turkish Airlines lease deal by August 31
Business Today
·
2m ago
Medial
The Centre has instructed IndiGo to end its lease agreement with Turkish Airlines by August 31. This follows the revocation of security clearance for Turkish ground-handling firm, Celebi Aviation. IndiGo had been using two Boeing 777-300ER aircraft from Turkish Airlines under a wet lease agreement. Despite requesting a six-month extension, the Ministry of Civil Aviation denied the extension beyond the original May 31 lease expiry, only allowing a brief relief period.
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IndiGo says delivery of Airbus A350-900 aircraft will start in 2027
Livemint
·
1y ago
Medial
IndiGo CEO, Pieter Elbers, has announced that delivery of the ordered Airbus A350-900 aircraft will begin in 2027. The airline has placed an order for 30 A350-900 planes with the option to purchase an additional 70. The wide-body planes, powered by Rolls Royce's Trent XWB engine, will allow IndiGo to expand its international routes and connect to the world from various Indian cities. The pricing of the aircraft has not been disclosed.
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Panic on board as IndiGo flight hit by hailstorm, lands in Srinagar with damaged nose - BusinessToday
Business Today
·
2m ago
Medial
An IndiGo flight from Delhi to Srinagar encountered a sudden hailstorm, resulting in panic on board and damage to the aircraft's nose. The flight and cabin crew managed the situation by following protocol, leading to a safe landing in Srinagar. Fortunately, there were no injuries reported. The aircraft has been grounded in Srinagar for a thorough inspection and will undergo necessary maintenance before being released for service again.
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IndiGo tail strike: DGCA begins probe in Sept 9 incident, derosters flight crew | Mint
Livemint
·
10m ago
Medial
InterGlobe Aviation, the parent company of IndiGo, has announced that it has grounded an aircraft involved in a tail strike incident on a Delhi-Bangalore flight. The airline stated that the Directorate General of Civil Aviation is investigating the incident, and the flight crew has been taken off duty. In addition, IndiGo apologized for the cancellation of two other flights, one from Ranchi to Delhi and the other from Mumbai to Doha, due to technical reasons. The affected passengers were provided with alternatives and necessary arrangements.
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