Sale of Shares by Mauritius Company in respect of indian assets treated as sold by 100% holding company located in USA


Attaching herewith my analysis of landmark judgment dated July 14, 2011 pronounced by Hon’ble Bombay High Court in the matter of sale of shares of JV company “Idea Cellular Limited” during year 2005 by AT&T, Mauritius (Now Cingular Teleservices) to JV Partner Birla and Tata Group entities.

The Hon’ble High Court had dismissed the writ petitions preferred by the Aditya Birla Nuvo Limited and Tata Industries Limited against the notice of the assessing officer treating them as representative of AT&T (NCWS)…….

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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