https://www.taxtmi.com/caselaws?id=262811 Indirect control can satisfy the Foreign Trade Policy definition of a group company where the policy expressly recognises both direct and indirect voting control or board appointment power. The Bombay High Court held that an administrative reading confined to direct shareholding was inconsistent with paragraph 9.28 and with paragraph 5.4, which allows export obligation to be met through exports of a group company. Relying also on departmental clarification, the Court treated companies linked through shareholding chains as group companies and held that the export earnings of the associated company could be counted toward the EPCG export obligation. The impugned decision was quashed and the benefit claimed was directed to be granted. en-us Sat, 20 Dec 2014 00:00:00 +0530 Thu, 20 Aug 2015 10:10:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=262811 Indirect control can satisfy the Foreign Trade Policy definition of a group company where the policy expressly recognises both direct and indirect voting control or board appointment power. The Bombay High Court held that an administrative reading confined to direct shareholding was inconsistent with paragraph 9.28 and with paragraph 5.4, which allows export obligation to be met through exports of a group company. Relying also on departmental clarification, the Court treated companies linked through shareholding chains as group companies and held that the export earnings of the associated company could be counted toward the EPCG export obligation. The impugned decision was quashed and the benefit claimed was directed to be granted. Case-Laws Customs Sat, 20 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=262811