Girish Dave to defend Revenue stand in Shell case!

arun's picture

So it will be former DIT and the man who led the Revenue charge in the Vodafone tax case - Girish Dave, who will defend the IT Department's roughly $3bn addition in the high profile case of MNC giant Shell on the issue of share valuation. Shell had filed a writ in Bombay High Court (http://www.tp.taxsutra.com/news/6731/Shell-comes-out-all-guns-blazing-claims-Article-14-protection-in-writ#content-bottom ), contending that TP addition on “Balance Sheet item” is illegal. It has further submitted that share capital and share premium are capital receipts and hence invoking Sec. 92 to tax the same is contrary to law. Senior Advocate and legal eagle Harish Salve will be arguing on behalf of Shell. The dates of hearing are yet to be decided.

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