Delhi High Court quashes Teva tax case, orders 783 cr refund
The Delhi High Court quashed more than a decade-old tax proceedings against Teva Pharmaceutical Industries and its US affiliate tied to a Ranbaxy Laboratories deal, and reprimanded tax authorities for withholding a 783 crore refund for more than a decade.
The Delhi High Court has quashed tax proceedings that had been pending for more than a decade against Israeli drugmaker Teva Pharmaceutical Industries and its US affiliate in connection with a deal involving Ranbaxy Laboratories. The court also reprimanded tax authorities for withholding a 783 crore refund for more than…