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SC upholds Sikkim HC verdict declaring Lottery Promotion Tax Clause Unconstitutional

New Delhi, Feb 11 (UNI) In a significant judgment, the Supreme Court on Tuesday upheld the Sikkim High Court’s decision striking down Clause (zzzzn) of Section 65(105) of the Finance Act, 1994, as inserted by the Finance Act, 2010, declaring it unconstitutional. The contentious clause sought to introduce “promotion, marketing, organising, or assisting in organising…

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Tesla battery Megafactory in Shanghai launches production

Shanghai, Feb 11 (UNI) U.S. carmaker Tesla’s new Megafactory in Shanghai, dedicated to manufacturing its energy-storage batteries, known as Megapacks, launched production on Tuesday, marking a significant expansion of the company’s presence in China. With an initial annual production capacity of 10,000 units, or roughly 40 gigawatt-hours of energy storage, this Megafactory is set to…

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