Case Law Details
Case Name : Danisco India Private Limited Vs. Union Of India & Ors. (Delhi High Court)
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Courts :
All High Courts Delhi High Court
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Danisco India Private Limited Vs. Union Of India & Ors. (Delhi High Court)
It is quite apparent that the issue urged has been rendered largely academic on account of corrective amendment made by the Parliament-which substituted pre- existing Sub-section (7) with the present Section 206AA (7). The amendment is mitigating to a large extent, the rigors of the pre- existing laws. The law, as it existed, went beyond the provisions of DTAA which in most cases mandates a 10% cap on the rate of tax applicable to t
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SPORADIC (to share some instant thoughts, with a view to provoking Experts to explore):
‘TREATY Override” is the well settled and mutually accepted, principle. As such, as a general proposition, there is no room whatsoever for legitimately DE-settling and UP-setting it, On the flip side, however, that is not to say, in any instance in which, by an application of the domestic law, taxpayer could not be taxed or be taxed only less, the said principle could be blindly invoked and applied. In other words, the fact that both countries have agreed to, as a matter of compromise (give-and- take measure), to a modification of the extant treaty in any respect, tax- payer, as is to be imagined, could legitimately urge, successfully, that such modified provision ought not to be given effect.
According to a tentative thinking, -pending exploring the stated proposition to the end of forming and firming up an independent opinion, – this an aspect which deserves to be examined, in greater details.
Of contextual relevance is the recently modified tax treaty between India and Singapore; which has surfaced for the first time, for consideration, in the aftermath of the deal between Flipcart and Wallmart for acquisition by the latter of ‘controlling interest’ the former has in an Indian entity.