Case Law Details
Case Name : Investeringsforeningen BankInvest Vs DDIT (ITAT Mumbai)
Related Assessment Year :
Courts :
All ITAT ITAT Mumbai
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The assessee is a FUND and a resident of Denmark. Along with its return of income, in India, the assessee had submitted ‘Tax Residency Certificate’ issued by the Danish Authorities in order to claim the benefit of Article 14 of India-Denmark DTAA. From the plain reading of the ‘reasons recorded’, it is seen that the Assessing Officer is first of all, is not clear whether the assessee is tax resident of Denmark or not, and secondly, whether AOP-Trust is taxable unit in Denmark or not. This is evident from the reasons where he observes that
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SC judgement is very relevant as AOs simply move irrationally in most cases resulting in unnecessary litigation and waste of moneys both the govt as also to tax payers.
i think CBDT need to correctly formulate things before things go out of control, as economy is indeed fragile all over , that way only every day fluctuations do indicate all over world as excessive derivatives are applied.