Transfer pricing comparability requires functional alignment and permits working capital adjustment, while APA margins cannot govern non-covered years...
Treaty benefit, goodwill depreciation and hedging costs: export commission disallowed, while key business deductions and depreciation claims succeeded...
Undisclosed foreign asset classification requires an unexplained source; unrebutted affidavits and corroborative evidence defeated the Black Money Act...
The HC allowed enforcement of the foreign arbitral award against the respondents, holding that objections under Section 48 were untenable. The Court found the award did not direct a company "buyback of shares" and rejected attempts to treat surrender of shares as such. Challenges based on the doctrine of election, alleged contravention of Section 16(b) or Sections 10(b)/14(1)(a)/20 of the Specific Relief Act, waiver, improper delegation, non-consideration of material issues, and alleged fraud were dismissed as merits-based re-appraisals improper in enforcement proceedings or as insufficiently pleaded. Transnational issue-estoppel and comity considerations were acknowledged, but did not preclude enforcement; petition dismissed and award declared enforceable under Sections 47-49.
The HC allowed enforcement of the foreign arbitral award against the respondents, holding that objections under Section 48 were untenable. The Court found the award did not direct a company "buyback of shares" and rejected attempts to treat surrender of shares as such. Challenges based on the doctrine of election, alleged contravention of Section 16(b) or Sections 10(b)/14(1)(a)/20 of the Specific Relief Act, waiver, improper delegation, non-consideration of material issues, and alleged fraud were dismissed as merits-based re-appraisals improper in enforcement proceedings or as insufficiently pleaded. Transnational issue-estoppel and comity considerations were acknowledged, but did not preclude enforcement; petition dismissed and award declared enforceable under Sections 47-49.
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