Bombay High Court publishes decision in Shell India share undervaluation case

The Bombay High Court has released its decision in Shell India Markets Pvt. Ltd. vs. Union of India on its website.

In the November 18 tax case, the court ruled in favor of an Indian subsidiary of Royal Dutch Shell, disagreeing with Indian tax department’s theory that the transfer or issuance of undervalued shares by an Indian company to an overseas related party should trigger a transfer pricing assessment.

See:

• Shell India Markets Pvt. Ltd. vs. Union of India and ors

For discussion of the case see:

• Indian court rules in favor of Shell in transfer pricing share undervaluation case