Income Tax : Explore the legal boundaries of tax avoidance, recent rulings, and the evolving jurisprudence in India with key cases like Vodafon...
Income Tax : Explore the latest in international taxation: from judicial precedents to regulatory changes. Dive into cases, form updates, and M...
Income Tax : An in-depth analysis of the Taxation Laws (Amendment) Act, 2021. Understand the implications and changes to the Income Tax Act and...
Income Tax : During the years 2007 to 2008, India witnessed an immense hike of Foreign Direct Investments (FDI) in its Telecommunication Indust...
Income Tax : The Indian government in Budget 2012-13, amended the Income Tax Act, 1961 to retrospectively tax cross-border transactions in whic...
Income Tax : Taxation Laws (Amendment) Bill, 2021 Key Features of Taxation Laws (Amendment) Bill, 2021 1. Provides that no tax demand shall be ...
Income Tax : The government introduced the Taxation Laws (Amendment) Bill, 2021, which seeks to withdraw tax demands made under the Finance Act...
Income Tax : The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, in a major decision, has decided to accept the order of the H...
Income Tax : Correct Factual Position and the Circumstances that led to the Government’s Proposal to Withdraw from the Conciliation Measures ...
Income Tax : British telecom giant Vodafone has decided against making a provision in its balance sheet for the over Rs 11,000 tax claim made b...
Income Tax : Delhi High Court scrutinizes the validity of Tax Residency Certificate (TRC) held by Vodafone Mauritius in their tax litigation ca...
Income Tax : Vodafone Mauritius Limited Vs ACIT (Delhi High Court) Ms Fereshte D. Sethna, who appears on behalf of the petitioner, says that th...
Income Tax : Vodafone Idea Limited Vs DCIT (ITAT Mumbai) In this case Learned Departmental Representative could not disputed the proposition th...
Income Tax : Thus it is clear that non completion of hearing of this appeal is solely attributable to revenue. In these circumstances, we are o...
Income Tax : No tax demand shall be raised in future on the basis of the amendment to section 9 of the Income-tax Act made vide Finance Act, 20...
Income Tax : In section 9 of the Income-tax Act, 1961, in sub-section (1), in clause (i), in Explanation 5, after the third proviso, the follow...
Income Tax : Taxation Laws (Amendment) Bill, 2021 is introduced in Lok Sabha on 05th August 2021. Bill is further to amend the Income-tax Act, ...
Income Tax : A speculative news story being circulated in some section of media claiming that Attorney General has given opinion in favour ...
Income Tax : The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, in a major decision, has decided to accept the order of the H...
Explore the legal boundaries of tax avoidance, recent rulings, and the evolving jurisprudence in India with key cases like Vodafone shaping fiscal policies.
Explore the latest in international taxation: from judicial precedents to regulatory changes. Dive into cases, form updates, and MFN clause implications.
Delhi High Court scrutinizes the validity of Tax Residency Certificate (TRC) held by Vodafone Mauritius in their tax litigation case against ACIT Circle International Tax.
Vodafone Mauritius Limited Vs ACIT (Delhi High Court) Ms Fereshte D. Sethna, who appears on behalf of the petitioner, says that the principal allegation against the petitioner is that the petitioner, which is a foreign company incorporated under the laws of Mauritius, had sold shares worth Rs.1295 crores, of an Indian company going by the […]
An in-depth analysis of the Taxation Laws (Amendment) Act, 2021. Understand the implications and changes to the Income Tax Act and Finance Act.
During the years 2007 to 2008, India witnessed an immense hike of Foreign Direct Investments (FDI) in its Telecommunication Industry. The Indian telecom industry generated revenues of approximately 32 billion US Dollars in 2007-08 with a growth rate of 60 percent[1] over the previous financial year. The industry further witnessed a Compound Annual Growth Rate […]
The Indian government in Budget 2012-13, amended the Income Tax Act, 1961 to retrospectively tax cross-border transactions in which the underlying assets are located in India by which all persons, whether resident or non-residents, having a business connection in India, were required to deduct tax at source, even if the transaction was executed on a foreign soil.
The Central government on 5th August introduced the Taxation Laws (Amendment) Bill, 2021 in the Lok Sabha, to repeal the Retrospective legislation on indirect transfer tax. The Finance Ministry had presented a bill to encourage greater overseas investment into India, which is being hailed as a welcome respite for firms that have long invested in […]
No tax demand shall be raised in future on the basis of the amendment to section 9 of the Income-tax Act made vide Finance Act, 2012 for any offshore indirect transfer of Indian assets if the transaction was undertaken before 28th May, 2012 (i.e., the date on which the Finance Bill, 2012 received the assent of the President).
In section 9 of the Income-tax Act, 1961, in sub-section (1), in clause (i), in Explanation 5, after the third proviso, the following provisos shall be inserted, namely:— “Provided also that nothing contained in this Explanation shall apply to— (i) an assessment or reassessment to be made under section 143, section 144, section 147 or section 153A or section 153C; or (ii) an order to be passed enhancing the assessment or reducing a refund already made or otherwise increasing the liability of the assessee under section 154; or
