Reopening Assessments invalid where satisfaction and jurisdictional approval are absent for third party seized material, leading to quashing of assess...
Benami property exclusion from the insolvency estate: Benami Act proceedings preclude IBC tribunals from reopening attachments or treating such assets...
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GIA India was treated as an independent entity and, on the Tribunal's factual findings accepted by the HC, no fixed place, service or agency PE of GIA US arose in India under Article 5 of the India-US DTAA. On royalty, the Court applied the real income principle and the APA framework to hold that only the royalty ultimately retained by GIA US after refund of the excess amount could be taxed in India under Article 12. The transfer pricing recomputation provisions invoked by the Revenue were held inapplicable because the arm's length price was governed by the APA and the refund had already been reflected in GIA India's tax position.
GIA India was treated as an independent entity and, on the Tribunal's factual findings accepted by the HC, no fixed place, service or agency PE of GIA US arose in India under Article 5 of the India-US DTAA. On royalty, the Court applied the real income principle and the APA framework to hold that only the royalty ultimately retained by GIA US after refund of the excess amount could be taxed in India under Article 12. The transfer pricing recomputation provisions invoked by the Revenue were held inapplicable because the arm's length price was governed by the APA and the refund had already been reflected in GIA India's tax position.
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