HC quashes tax showcause notice to Genpact India: Sources

The Delhi High Court has quashed the tax showcause notice to software company Genpact India, reports CNBC-TV18's Aakansha Sethi.

The notice was issues under Sector 163 of the Income Tax act.  
US multi-national General Electric has sold 60% interest in Genpact India to two private equity players. The deal was structured through Luxembourg entities.
The court held that Genpact India is not a representative of GE USA and is not liable to pay capital gains tax.