The Supreme Court refused to interfere with concurrent findings of the arbitral tribunal and High Court, holding that a BOT bus stand complex is exempt from municipal property tax. It ruled that ownership vested with the corporation under the concession, attracting statutory exemption.
Today, on 15th January, Supreme Court upheld revenue authorities’ refusal to entertain Tiger Global entities’ advance ruling pleas on Flipkart share sales. The Bench held that transactions prima facie aimed at tax avoidance attract the statutory bar under Section 245R(2), negating any duty to examine taxability merits.