LatestIncome Tax 25 July 2026
Tata Steel's Loan Waiver Restored
The High Court has restored Tata Steel's INR 252-billion loan waiver, resolving an income tax dispute that began with a retrospective amendment of the income tax law, following a show-cause notice from the Income Tax Department in March 2025, the company can now proceed without the tax burden
The High Court has made a significant ruling in favor of *Tata Steel*, restoring its INR 252-billion loan waiver. This decision resolves an income tax dispute that originated from a retrospective amendment of the income tax law. Key points of the dispute include:
- A show-cause notice was issued to Tata Steel by the Income Tax Department in March 2025
- The notice was a result of a retrospective amendment of the income tax law
- The company can now proceed with the loan waiver without the tax burden
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