AAR

AAR: Infosys gets Australia DTAA relief for sub-contracting payments to overseas subsidiary 

Payment to Infosys Australia pursuant to sub-contract arrangement for IT contracts not taxable; Source of income earned by Australian subsidiary is in India, as Infosys India the main contractor; Services

Aug 28,2012

AAR: Follows precedents, Exemption u/s 47(iv) not available, buyback not taxable, TP applicable 

Mauritian resident not taxable on gains on buyback of shares by Indian company; Mere fact that investment made through Mauritius not sufficient to hold the transaction as tax avoidance scheme;

Aug 22,2012

AAR: Salary recharge of seconded employees not reimbursement, taxable in India

Salary recharge to Indian company for secondment of employees by parent not in the nature of reimbursement; Foreign parent is an employer of seconded employees; 'Right to terminate employment' a

Aug 22,2012

AAR: No capital gain to Credit Suisse on merger sanctioned by Swiss Law

Swiss applicant had 100% subsidiary in India and intended to merge with Swiss parent; Vesting of shares of Indian subsidiary in parent company after amalgamation, not chargeable to capital gains

Aug 22,2012

AAR: Declines to rule, calls Gift of shares by Singapore co. "strange" transaction

Declines to rule on taxability of "gift" of shares; Stake in Indian co gifted by Singapore applicant to Indian subsidiary; Applicant failed to establish that transaction was effected in manner

Aug 14,2012

AAR: Discards SC's "Theory of Precedents"; TP provisions applicable though Mauritius benefit granted 

AAR forcefully affirms its right to depart from its own earlier rulings; Holds Transfer Pricing provisions applicable even though share transfer exempt from capital gains under Mauritius DTAA: AAR not bound

Aug 14,2012

AAR: Seismic data processing fees paid by NR to NR assessable u/s 44BB

UK applicant rendering seismic data processing services to UAE sub-contractor of ONGC in connection with oil prospecting eligible for concessional tax u/s 44BB; Fees paid by one NR to another

Aug 08,2012

AAR: Legal ownership critical criteria for Mauritius exemption, rejects Revenue's 'effective management' argument

Capital gain on direct & indirect sale of Indian shares by 2 Mauritian companies, along with earn out not taxable in India; Indo-Mauritius DTAA benefit available as transactions not devised

Aug 07,2012

AAR: Departs from precedent, holds mud engineering service as FTS, refuses concessional rate 

Mud Engineering services in connection with exploration and extraction of mineral oils amounts to ‘Fees for technical services’ u/s 9(1)(vii); Post 2010 amendment, FTS specifically covered under gross basis of

Aug 01,2012

AAR: Allows Mauritius treaty exemption but leaves GAAR sword hanging

Applicant in Mauritius entitled to capital gains exemption on sale of shares, under Indo-Mauritius treaty; Applicant had valid Tax Residency Certificate and AAR bound by SC ruling in Azadi Bachao;

Jul 19,2012

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