Active Stocks
Thu Mar 28 2024 14:29:24
  1. Tata Steel share price
  2. 156.40 2.32%
  1. ITC share price
  2. 432.80 1.12%
  1. HDFC Bank share price
  2. 1,456.05 1.07%
  1. Power Grid Corporation Of India share price
  2. 278.85 2.88%
  1. State Bank Of India share price
  2. 758.30 3.30%
Business News/ Companies / Bombay HC to hear Shell transfer pricing case on 24 February
BackBack

Bombay HC to hear Shell transfer pricing case on 24 February

Shell is fighting a tax order accusing it of underpricing an intra-group share transfer by `15,000 crore

The case is a fallout of retrospective amendments introduced in the national budget of 2012 that included capital financing under the transfer-pricing net. Photo: Bloomberg Premium
The case is a fallout of retrospective amendments introduced in the national budget of 2012 that included capital financing under the transfer-pricing net. Photo: Bloomberg

Mumbai: The Bombay high court (HC) on Thursday adjourned the hearing of the alleged transfer pricing case involving the Indian unit of Royal Dutch Shell Plc to 24 February.

Shell India has challenged the tax demand through petitions in the high court. The firm is fighting a tax order accusing it of underpricing an intra-group share transfer by 15,000 crore and consequently evading taxes.

Transfer pricing is the practice of arm’s length pricing for transactions between group companies based in different countries to ensure that a fair price—one that would have been charged to an unrelated party—is levied.

The case is a fallout of retrospective amendments introduced in the national budget of 2012 that included capital financing under the transfer-pricing net.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 12 Dec 2013, 01:27 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App

Chat with MintGenie