Flipkart's deliberate product discounting strategy resulted in valuable marketing intangibles, argues Revenue

Apr 10,2018

Revenue Counsel Mr. C. H. Sundar Rao terms Flipkart India as 'wholesaler' earning losses even at gross-profit level; Mr. Rao argues that assessee's clear motive was to capture market by creating marketing intangible by way of product discounts; Revenue Counsel highlights hefty share premium & high valuations driven by Flipkart India's 'marketing intangibles' despite low fixed assets base; In rejoinder, Senior Advocate Percy Pardiwalla submits that by incurring...

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