We get the great man\’s words:
This was a transaction relating to Indian assets that India wanted to tax, and thought it could tax. But it was recorded ‘elsewhere’ in a tax haven structure. And the result is that the legal form of recording it ‘elsewhere’ has meant that Inida’s laws have been subverted and tax is not due.
Yes, that\’s right. A ruling on the law from the Supreme Court is subversion of the law.
Rather than, as most of us would take it, a declaration of what the law actually is.