Supreme Court Clears Retro Tax Payment for Steel, Cement Giants

21 Aug 2024 CW Team

The Supreme Court has ruled in favour of retroactive tax payments for major steel and cement companies, marking a significant development in India's tax landscape. This decision mandates that these industry giants pay taxes for previous periods, which had been contested by the companies.

The retroactive tax demand affects several large players in the steel and cement sectors, who will now need to settle substantial tax arrears. This move is expected to impact their financial statements and potentially alter their investment strategies.

The ruling comes after prolonged legal battles and appeals by the companies, challenging the validity and enforcement of these retrospective tax claims. Despite their objections, the court's decision underscores the government?s stance on tax compliance and revenue collection.

The retro tax payments are anticipated to boost government revenues, which can be redirected towards public infrastructure and development projects. However, the decision might also prompt companies to reassess their financial planning and operational strategies in light of the increased tax burden.

This development highlights the ongoing complexities in India?s tax regulations and serves as a reminder for businesses to stay abreast of legal changes that could affect their financial obligations. The steel and cement industries will need to navigate this new fiscal challenge as they continue to operate in a dynamic economic environment.

Infrastructure Transport

05 Feb 2026

MMRDA Installs 325-Tonne Steel Spans on Mumbai Metro Line 4

The Mumbai Metropolitan Region Development Authority (MMRDA) has achieved a key construction milestone on Metro Line 4 with the successful installation of three large steel spans at Bhandup West during overnight operations.The spans, together weighing 325 metric tonnes, were launched using eight heavy-duty cranes and 12 multi-axle vehicles. The operation required precise engineering and meticulous planning to minimise disruption in the densely populated suburban area.Due to effective inter-agency coordination, the work—originally scheduled across four nights—was completed within just two n..

CMRL Targets March 2027 Opening for Vadapalani–Panagal Park

Chennai Metro Rail Limited (CMRL) is progressing as scheduled to open the Vadapalani–Panagal Park section of Phase II’s Corridor 4 by March 2027. The 3.5 km underground stretch is part of the 26.1 km Corridor 4 connecting Lighthouse with Poonamallee Bypass.Construction activities are advancing steadily, with tunnelling works between Vadapalani and Panagal Park already completed. Track-laying operations are expected to commence shortly. At Panagal Park station, structural works have reached the concourse and platform levels, while excavation continues at the lowest level.CMRL is also consid..

Maha-Metro Invites Pune Metro Civil Maintenance Bids

Maharashtra Metro Rail Corporation Limited (Maha-Metro) has invited bids for the annual civil maintenance contract of the Pune Metro Rail Project. The tender, bearing ID and number P1-O&M-20/2025, is scheduled to close on 23 February 2026, with a pre-bid meeting slated for 10 February 2026. The earnest money deposit (EMD) for the contract is Rs 3,50,500, and the duration of the contract is one year.The scope of work includes annual civil maintenance of 28 elevated and underground stations, 28.079 km of elevated viaduct including steel bridges, 12.15 km of tunnels, and two depots under the ..