The Income Tax department had sent queries to these offshore entities asking why their dividend incomes should not be taxed. Foreign funds, which were unable to demonstrate ‘commercial substance’ to it, have been denied the tax treaty benefit. An entity is said to fulfil commercial substance requirements, if it has an office, working staff, cash flows and management there.
Berkshire Hathaway spends down cash pile under CEO Greg Abel
Berkshire Hathaway reduced its cash hoard to $365.5 billion in Q2, as CEO Greg Abel deployed capital into $4.5 billion of stock buybacks and nearly