The Mumbai bench of Income Tax Appellate Tribunal allowed ICICI Bank to avail ₹1,855 crore bad debt write-off as deduction. It dismissed the bank s appeal seeking ₹502-crore worth long-term capital loss allowance for 2015-16. The tribunal upheld PCIT s decision to declare an excess deduction of ₹159 crore as erroneous.
The Women s Premier League (WPL) is set to generate up to ₹125 crore in sponsorship revenues. The BCCI could earn ₹50 crore from central sponsorships. The WPL franchises are anticipated to earn ₹50-₹65 crore from team sponsorships. The WPL is valued at $150 million.
The project - spread over 2.8 million sq ft and entailing an investment of more than ₹1,200 crore - will also include an innovation and startup hub. The company has pipped three other bidders to bag the proposed project that surpasses all existing developments within the GIFT City, which previously boasted the largest development covering a million sq ft.
The ministry s preliminary probe had found appropriation of ZEEL s fixed deposits (FDs) by Yes Bank, for squaring off loans of related entities of Essel Group. ZEEL is part of the Essel Group promoted by Subhash Chandra and his family.
Uber CEO Dara Khosrowshahi has met with Indian business tycoon Gautam Adani and expressed excitement for future collaborations. The two leaders discussed India s growth story and Uber s vision for the subcontinent. Adani praised Uber India s commitment to uplifting Indian drivers dignity and emphasized the company s commitment to accelerating the transition to electric vehicles (EVs).