This edition of ELP’s Tax Alert brings to you the update on a recent Order wherein the Hon’ble Supreme Court dismissed the Department’s SLP against a favourable ruling of the Bombay High Court in writ petitions filed by ELP. The High Court had held that two or more companies, having a common holding company, would also be considered as ‘Group Company’ as defined under paragraph 9.8 of the Foreign Trade Policy (FTP), and would be entitled to the benefits provided to Group Companies under the FTP.
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