The Income Tax Appellate Tribunal has quashed the Rs 5,872-crore tax demand on Grasim Industries Ltd. over the restructuring of its businesses.The income tax authorities have erred in classifying the demerger of financial services business to Aditya Birla Capital Ltd. as a mere transfer of assets and liabilities, the ITAT said in its order.In 2017, the Ahmedabad bench of NCLT approved the merger of Aditya Birla Nuvo Ltd. with Grasim …
The Income Tax Appellate Tribunal has quashed the Rs 5,872-crore tax demand on Grasim Industries Ltd. over the restructuring of its businesses.
The income tax authorities have erred in classifying the demerger of financial services business to Aditya Birla Capital Ltd. as a mere transfer of assets and lia…
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