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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