Advance Rulings

No Service tax leviable on ‘car lease scheme’ of providing vehicles by employers to employees

J.P. Morgan Services India Private Ltd, Mumbai Vs Commissioner of Service Tax (Authority for Advance Rulings)

The Hon’ble Authority for Advance Rulings held that in the instant case, the Applicant charge the amount to its employees for use of the vehicles, which is equivalent to the rent amount paid to the car leasing company i.e. no extra amount is charged from employee....

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AAR cannot be approached for a ruling only on a part of a transaction

Re. P.K. Balasubramanyan (AAR)

A ruling pronounced by this Authority is binding on the applicant, in respect of the transaction in relation to which the ruling has been sought and on the Commissioner and the income-tax authorities subordinate to him. The ruling is in respect of the applicant and the transaction involved....

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AAR recommends reconsideration of RST’s ruling on availability of relief u/s. 47(iv)

Re. Armstrong World Industries Mauritius Multiconsult Ltd. (AAR Delhi)

Question No. 2 is whether even otherwise the transaction will stand outside section 45 of the Act in view of the section 47 (iv) of the Act. In the light of the Ruling on question No. 1, this question may have no efficacy. Counsel argued that an earlier Ruling rendered by this Authority In re RST (AAR No. 1067 of 2011) requires reconsider...

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No capital gain on indirect transfer of Indian shares if no consideration accrued to transferor

Re. Credit Suisse (International) Holding AG (AAR Delhi)

According to the applicant, the merger and consequent transfer of all assets and liabilities did not generate any gain. The applicant was in involved circumstances. That is why the merger with the parent company was thought of. On a merger, the transfer or is effaced. The transaction undertaken is apparently one sanctioned by Swiss law. T...

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Income taxable under both FTS and PE would be taxable as FTS – AAR

Re. C.A.T. Geondata GmbH (AAR Delhi)

The services rendered by the applicant are technical in nature and do not fall within the exception provided in the definition of FTS since the applicant has not actually carried out any mining or like project. It can at best be said that the services were rendered “in connection with” the mining activity undertaken by the Indian Com...

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Tax need to be withheld if payer has right to terminate ‘secondment’ & not ’employment’

Re. Target Corporation India (P.) Ltd. (AAR Delhi)

In present case the applicant just has the right to terminate the secondment agreement, hence, the amount paid by Indian WOS to foreign parent under the secondment agreement is not mere reimbursement and is income of the parent company. Therefore, the applicant is liable to withhold taxes from payments made to foreign parent company. ...

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Gift by company to subsidiary are dubious & not tax neutral – AAR

Re. Orient Green Power Pte. Ltd. (AAR Delhi)

In the context of section 47(i) and (iii), this gift referred to therein, is a gift by an individual or a Joint Hindu Family or a Human Agency. Section 47(iii) speaks of 'any transfer of a capital asset under a gift, or will or an irrecoverable trust'. Execution of a will involves a human agency. Cannot the expression gift take its colou...

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It is mandatory for foreign company to file return of income to take benefit of DTAC – AAR

Re. Castleton Investment Ltd. (AAR Delhi)

Whether the applicant is required to file its return of income under section 139 of the Act, in case, its capital gains is not chargeable to tax in India is question no.6 posed. It has been found that though the applicant would be chargeable to capital gains tax on the proposed sale of shares under the Act, it has been ruled that in view ...

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Beneficial ownership not prevails over legal ownership to tax gain on sale of shares -AAR

Re. Moody's Analytics Inc. (AAR Delhi)

Learned counsel for the Revenue argued that the beneficial ownership of the shares vested with Copal Jersey and that ownership should determine the applicatory law. India did not have a treaty with Jersey and hence on the application of the Income-tax Act, the capital gains are taxable in India. He pointed out that there was no dispute th...

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AAR – Substance over form overlooked, Treaty shopping upheld, reliance placed on azadi bachao andolon case

Re. Dynamic India Fund I (AAR Delhi)

The argument that unless the capital gain is actually taxed in Mauritius the DTAC would not apply in the context of section 90(1) and section 90(2) of the Act, though attractive, cannot be entertained in view of the decision in Union of India vs. Azadi Bachao Andolan. Even though capital gain is not actually taxed in Mauritius, the questi...

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