Shell says challenges India tax demand order in court

Thu Apr 25, 2013 5:35pm IST

A man rides his motorcycle past a Shell fuel station on the outskirts of Ahmedabad February 6, 2013. REUTERS/Amit Dave/Files

A man rides his motorcycle past a Shell fuel station on the outskirts of Ahmedabad February 6, 2013.

Credit: Reuters/Amit Dave/Files

Related Topics

Stocks

   

REUTERS - Royal Dutch Shell Plc's (RDSa.L) India arm has filed a petition in the Bombay High Court challenging the claims by the local tax authorities that a share sale to its overseas parent in 2009 was undervalued by about 152 billion rupees.

The Anglo-Dutch oil company filed the "writ petition" in the Bombay High Court on Wednesday, a company statement said.

The tax demand notice to Shell, sent earlier this year, is part of India's stepped-up enforcement of tax collections and actions against global companies in the country including Vodafone Group Plc (VOD.L) and Nokia Oyj (NOK1V.HE).

"Shell has always maintained that it will continue to evaluate all options for redress available to resolve this tax dispute," the company said in a statement on Thursday, without giving details of the tax demand.

(Reporting by Sumeet Chatterjee in MUMBAI; Editing by Subhranshu Sahu)

FILED UNDER:

Reuters Showcase

FMC-SEBI Merger

FMC-SEBI Merger

Regulatory shakeup could revive commodities markets   Full Article 

Market Eye

Market Eye

Sensex, Nifty end higher after bumpy budget-day trading  Full Article 

Tax Incentives

Tax Incentives

Budget woos foreign investors  Full Article 

Excise Duty

Excise Duty

Cigarette makers fall after budget hikes excise duty  Full Article 

Welcoming the Budget

Welcoming the Budget

India Inc cheers corporate tax cut, simpler rules  Full Article 

Gold Price

Gold Price

Gold prices to rise after budget keeps import duty high  Full Article 

Fuel Prices

Fuel Prices

IOC to raise diesel, petrol prices from Sunday  Full Article 

Moody's on Budget

Moody's on Budget

Budget "credit neutral" from a ratings perspective - Moody's   Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage