https://www.taxtmi.com/caselaws?id=246079 Under the Foreign Contribution (Regulation) Act, 1976, the definition of "foreign source" was treated as deliberately wide to curb foreign influence in political life. A company incorporated outside India remained a foreign source by reason of incorporation, and Indian shareholding did not change that character; donations to political parties by Indian companies substantially owned by such a foreign company were therefore treated as foreign contributions. The text also records that donations shown as received from two government companies were not accepted as conclusively explained by inadvertent mistake, and an inquiry was directed to verify the accounting entries before further action in accordance with law. en-us Fri, 28 Mar 2014 00:00:00 +0530 Wed, 16 Apr 2014 11:12:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=246079 Under the Foreign Contribution (Regulation) Act, 1976, the definition of "foreign source" was treated as deliberately wide to curb foreign influence in political life. A company incorporated outside India remained a foreign source by reason of incorporation, and Indian shareholding did not change that character; donations to political parties by Indian companies substantially owned by such a foreign company were therefore treated as foreign contributions. The text also records that donations shown as received from two government companies were not accepted as conclusively explained by inadvertent mistake, and an inquiry was directed to verify the accounting entries before further action in accordance with law. Case-Laws FEMA Fri, 28 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=246079