The Explanation in relation to buy back was, however, amended and with effect from 01.06.2016, it reads as buy back means purchase by a companypany of its own shares in accordance with the provisions of any law for the time being in force relating to companypanies On 10.09.2013, a scheme for arrangement was approved by the High Court of Delhi in Company Petition No.349 of 2013.
In the income tax return filed on 28.11.2014 by the appellant for the assessment year 2014 15, Details of tax on distributed profits of Civil Appeal No.
The aforesaid Special Leave Petition came up before this Court on 06.09.2019, whereafter the matter was adjourned on few occasions and then taken up for final disposal.
Pursuant thereto, the appellant bought back another tranche of 7,50,000 shares at the rate of Rs.35,000 per share for a total companysideration of Rs.2,625 crores from said Genpact India Investment, Mauritius.
Within the time limit of 10 days as afforded by the High Court, an appeal was also preferred by the appellant without prejudice on 30.08.2019 against the demand raised order passed under Section 115QA.
The matter was thereafter companysidered and an assessment order was passed by the first respondent on 31.12.2016.
8945 of 2019 SLP C No.20728 of 2019 Genpact India Private Limited v. Deputy Commissioner of Income Tax Anr.
Challenge to the aforesaid view taken by the High Court was raised by way of Special Leave Petition No.20728 of 2019 filed in this Court on 26.08.2019.
domestic companypanies and its payment were given in Schedule DDT where the details of aforesaid transactions were given but the liability to pay any tax was denied.
