Development agreements require legal possession or effective enjoyment for capital gains transfer; permissive possession and deferred consideration de...
Prolonged sterilisation of development rights supports capital-gains treatment, while business-income disallowances cannot govern capital-gains comput...
Additional evidence in transfer pricing dispute leads to fresh examination, while tax deductions, TDS credit, fee and refund interest require verifica...
Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
Mutual fund maturity rules require proper rollover, redemption, disclosure, and due diligence; investor gains cannot excuse regulatory breaches or pen...
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Retrospective taxation through a purportedly clarificatory amendment cannot create a fresh charge or withdraw benefits accrued under the unamended law. The Finance Act, 2010 amendment to section 9, which dispensed with the requirement that technical services be rendered in India, was treated as substantive and applied prospectively despite its stated retrospective date. The notes also state that beneficial Board circulars could be withdrawn only prospectively. Where domestic law and the India-USA DTAA permitted competing interpretations, the interpretation favourable to the assessee prevailed; technical-service income required rendition and utilisation of services in India. The amendment therefore could not impose tax on offshore technical services retrospectively.
Retrospective taxation through a purportedly clarificatory amendment cannot create a fresh charge or withdraw benefits accrued under the unamended law. The Finance Act, 2010 amendment to section 9, which dispensed with the requirement that technical services be rendered in India, was treated as substantive and applied prospectively despite its stated retrospective date. The notes also state that beneficial Board circulars could be withdrawn only prospectively. Where domestic law and the India-USA DTAA permitted competing interpretations, the interpretation favourable to the assessee prevailed; technical-service income required rendition and utilisation of services in India. The amendment therefore could not impose tax on offshore technical services retrospectively.
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