Shell India wins tax case after Vodafone

Wednesday 17th December 2014 08:18 EST

The Indian arm of Royal Dutch Shell has won two transfer-pricing adjustments made by the income tax department of Rs 150 billion and 30 billion for 2007-08 and 2008-09, respectively to the taxable income of Shell India Markets Pvt Ltd (SIMPL).
"Bombay High Court rules in favour of Shell following its Vodafone ruling. The HC deletes the transfer pricing adjustment and the consequential interest in respect of alleged undervaluation of shares issued by SIMPL," counsel for Shell, BMR Legal, said in a statement.

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