Tax Flash News
List of Tax Flash News
01 January 2023 to 17 January 2023
Date |
Title |
Citations |
|---|---|---|
| 01/17/2023 | The Supreme Court’s decision on exemption to educational institution interpreting the term ‘solely’ is prospective in nature | American Hotel & Lodging Association, Educational Institute [2008] 301 ITR 86 (SC) |
| 01/17/2023 | The US entity is a beneficial owner of FTS and eligible for the benefit of a concessional tax rate under the India-USA tax treaty | CIT v. Fujitsu America Inc. (ITA No. 530 of 2022) )(Del) - Taxsutra.com |
| 01/16/2023 | A liaison office in India does not constitute a Permanent Establishment under the India-Switzerland tax treaty | Mitsui & Co. Ltd [1991] 39 ITD 59 (Del), Sumitomo Corpn [2008] 110 TTJ 302 (Del), Motorola Inc [2005] 95 ITD 269 (Del) (SB), Western Union Financial Services Inv [2007] 101 TTJ 56 (Del), Metal One Corpn. [2012] 52 SOT 304 (Del) |
| 01/13/2023 | Scheme of amalgamation is rejected as nothing was expressed on Section 72A relating to carry forward and set off of accumulated loss and unabsorbed depreciation | Scheme of Amalgamation of Minda TG Rubber Private Limited with Toyoda Gosei Minda India Private Limited-CP No. (CAA)-111 (ND)/2021 in CA No. CA (CAA)-118 (ND)/2021-(Delhi NCLT) |
| 01/10/2023 | Beneficial tax treaty rate will prevail over higher tax rate provided under Section 206AA for non-furnishing of PAN | Danisco India Pvt. Ltd. v. UOI [2018] 404 ITR 539 (Del), Nagarjuna Fertilizers & Chemicals Ltd v. ACIT [2017] 78 taxmann.com 264 (Hyd) (SB), DCIT v. Pricol Ltd [2014] 223 Taxman 187 (Chennai), DCIT v. Serum Institute of India [2015] 56 taxmann.com 1 (Pune) |
| 01/10/2023 | TDS provisions are not applicable on year-end provisions which are reversed at the beginning of the next year and where payees are not identifiable | IBM India Private Ltd v. ITO(TDS)[2015] 154 ITD 497 (Bang), Inter Globe Aviation Ltd. v. ACIT(ITA No. 5347/Del/2012) (Del) |
| 01/09/2023 | E-Visa facility now available for nationals of UK, Canada and few other countries | Indian Government's Visa Website |
| 01/04/2023 | India Tax Konnect - December 2022 |
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