30th November, 2012
In an interesting case dealing with conversion of rupee loan into foreign currency loan, the Income Tax Appellate Tribunal (ITAT), Bangalore upheld the orders passed by lower appellate authority and agreed with the reasoning of the Asessing Officer (AO). The AO sought to verify the real nature of the expenditure and concluded that foreign exchange fluctuation loss as clai...
7th February, 2012
The Union Budget will be presented by the Indian Finance Minister in the Parliament on 16th March, 2012, as per reports. This year, the budget exercise has been postponed due to elections to certain state assemblies.
Service Tax net is likely to be widened in the annual financial exercise. A negative list for taxing services is on the cards. Once implemented, except a few...
25th November, 2011
The Central Board for Direct Taxes (CBDT), India has invited suggestions and comments on devising a separate proforma for obtaining information in transfer pricing cases and changes in the existing proforma for information sought from countries with which India has DTAA or Tax Information Exchange Agreement (TIEA). The Indian Tax Administration, in its communication dated...
The Finance Minister is expected to present Union Budget for the year 2012-13 on 16th March, 2012. To analyze tax implications of this year's budget, the Institute of Business Laws, in association with Lakshmikumaran & Sridharan, is organizing the following seminars on Budget 2012:
17th March, 2012 - India Habitat Centre, New Delhi
17th March, 2012 - M.C. Ghia Hall, Mumbai
18th November, 2011, Chennai
The seminar, with Lakshmikumaran & Sridharan, as Knowledge Partner, will discuss Income Tax issues affecting the Automotive Sector. The event also seeks to provide awareness on Intellectual Property Rights and help the auto industry to devise appropriate IP strategies.
Corporate Tax is a key factor that is considered in any investment. The Indian direct tax l...
By R. Subhashree
“Certainty is integral to rule of law. Certainty and stability form the basic foundation of any fiscal system. Tax policy certainty is crucial for taxpayers (including foreign investors) to make rational economic choices in the most efficient manner...”
The Supreme Court of India’s observation in the Vodafone case emphasises certainty. A much sought after ideal by tax...
By Sumeet Khurana
The case of Vodafone involved capital gains tax implication on transfer of shares of a Cayman Island entity CGP Investments (CGP) by another Cayman Island entity Hutchison Telecommunications International Limited (HTIL) to a Netherlands resident entity Vodafone International Holdings (VIH). HTIL had direct and indirect control to the extent o...
By Gayatri Sridharan
“Statute law is the will of the legislature; and the object of all judicial interpretation of it is to determine what intention is either expressly or by implication conveyed by the language used, so far as necessary for the purpose of determining whether a particular case or state of facts which is presented to the interpreter fall within it.” - These were the opening wo...
This issue of "Tax Amicus" discusses recently notified Rules for Advance Pricing Arrangements which provide option for compliance through cooperation, though not provide for retrospective application. New All Industry Rates (AIR) of Drawback have been notified and EOUs have been granted exemption in case of re-imports when the foreign buyers rejects the goods. Gujarat High Court has held that t...
© Copyright 1985-2016 Lakshmikumaran & Sridharan, All Rights Reserved.