Commissioner Of Income Tax vs Herbalife International India … on 13 May, 2016

Background facts
2. The background facts are that the Assessee, which is the Indian

ITA No. 7/2007 Page 1 of 35
subsidiary of Herbalife International Inc. (‗HII’), USA, carries on
business of trading and marketing of herbal products for use in weight
management, to improve nutrition and enhance personal care. The
Assessee was incorporated as a company in India with 100% foreign
equity participation, pursuant to an approval granted by the Department
of Industrial Policy and Promotion, Secretariat for Industrial Assistant,
Ministry of Industry, Government of India. The approval was obtained by
HII. In terms of the approval, the Assessee was to manufacture herbal
products on contract basis in India and should not import these items.

Source: Indian Kanoon

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