Yash Birla case to decide status of offshore trusts

​​The dispute relates to multiple overseas trusts, allegedly holding close to Rs 1,550 crore, where Birla is named as one of the beneficiaries. The HC is hearing a petition filed by Birla challenging a two-year old ruling of the Income Tax Settlement Commission (ITSC) rejecting Birla’s application for settlement on the grounds that he failed to make “true and full” disclosure.

from Economy-News-Economic Times https://ift.tt/2TsSqzB