https://www.taxtmi.com/caselaws?id=390160 The Tribunal dismissed the appeals, upholding the sanction of the scheme while safeguarding the Income Tax Department's rights to investigate and act on any tax consequences. Citing legal precedents, including a Supreme Court decision, the Tribunal emphasized that schemes yielding tax benefits could be valid if compliant with the law. It concluded that the scheme was not solely for tax avoidance but served the commercial interests of the companies. en-us Fri, 20 Dec 2019 00:00:00 +0530 Wed, 06 May 2020 16:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=390160 The Tribunal dismissed the appeals, upholding the sanction of the scheme while safeguarding the Income Tax Department's rights to investigate and act on any tax consequences. Citing legal precedents, including a Supreme Court decision, the Tribunal emphasized that schemes yielding tax benefits could be valid if compliant with the law. It concluded that the scheme was not solely for tax avoidance but served the commercial interests of the companies. Case-Laws Companies Law Fri, 20 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=390160