AAR

AAR: Lifts corporate veil to tax sale of convertible debentures, refuses Mauritius treaty benefit 

Sale of Compulsory Convertible Debentures by Mauritius company taxable in India as “interest” under Sec 2(28A) of Income Tax Act and Article 11 of India-Mauritius DTAA; CCD creates or recognizes

Apr 04,2012

AAR: AAR denies capital gains benefit to Mauritius entity on share buy-back, terms it 'tax avoidance' 

Share buy-back a scheme for avoidance of Dividend Distribution Tax; Capital gains exemption under India-Mauritius DTAA for share buy-back not available to Mauritian Shareholder since held to be a 'colourable

Apr 04,2012

AAR: Inspection, testing services not 'made available' technical knowledge, not taxable as FTS under DTAA 

Under DTAA containing ‘make available clause’, income from Inspection, Verification, Testing and Certification Services not taxable as FTS; Under DTAA containing MFN clause but not ‘make available’ clause, applicants entitled

Mar 30,2012

AAR: Transfer of tenancy right results in alienation of immovable property; Cap gains taxable under DTAA

Gains received by Dutch resident on sale of shares in Indian Company holding immovable property taxable under Article 13.4 of India-Netherlands DTAA; Transfer of tenancy rights in property results in

Mar 28,2012

AAR: Relies on SC's "Look at" approach, holds consortium bidding for turnkey contract taxable as AoP 

Consortium formed by applicant with another non-resident, for bidding for a turnkey contract, liable to be taxed as Association of Persons (AoP); Internal division of responsibility by Consortium members not to

Mar 22,2012

AAR: Income from inspection, testing services taxable as FTS under IT Act 

Consideration received by HongKong resident for providing Inspection, Verification, Testing and Certification (IVTC) Services to Indian customers, taxable as FTS u/s 9(1)(vii); Services held to be 'customized services' and not

Mar 22,2012

AAR: Secondment of managerial staff creates Service PE for foreign company 

Secondment of employees creates Service PE for foreign company; SC ruling in Morgan Stanley relied on; Salary reimbursement to foreign company liable to TDS u/s 195 and does not amount

Mar 20,2012

AAR: AAR denies Sec 47 (iv) exemption on capital gains from share buy-back

Share buyback by Indian subsidiary from Foreign parent company not exempt u/s 47(iv); Shares held by nominees cannot be considered as shared held by Foreign parent; Sec 46A being special

Mar 20,2012

AAR: AAR allows interest income exemption to Swedish resident applying MFN clause, follows Poonawalla ruling

Interest income of Swedish resident on loan guaranteed by a specified Swedish authority covered under exemption provided in Article 11.3 of India-Sweden tax treaty in view of Most Favoured Nation

Feb 29,2012

AAR: Consideration for software sold through independent Indian reseller, ‘royalty’ in hands of non-resident 

Payments received by non-resident for sale of software application to end users / customers, through an independent reseller in India, taxable as ‘royalty’ under Article 12 of Indo-Japan DTAA; AAR

Feb 29,2012

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