In Brief
Genpact India Private Limited appealed against a High Court order dismissing its writ petition challenging a tax demand under Section 115QA of the Income Tax Act, 1961 (relating to share buy-back transactions). The Supreme Court held that (1) an appeal is maintainable against determinations under Section 115QA as the statutory appeal framework covers "denial of liability to be assessed," and (2) the High Court properly exercised its discretion to refuse the writ petition given the availability of adequate appellate remedies. The appeal was dismissed, with the company directed to pursue its statutory appeal before the Commissioner (Appeals).
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