NPCI-based bank account validation for IEC applications and modifications enables real-time validation; incorrect details block submission or trigger ...
Creation/Invocation of pledge of securities through depository system: standardized pledge forms, notice requirement and invocation notifications to p...
Calendar Spread margin benefit for Single Stock Derivatives suspended on expiry day for expiring contracts; exchanges must implement systems and rule ...
Proportionate interest, unexplained credits and partner remuneration disputed; proofs of fund nexus and lender identity were decisive and disallowance...
Capital gains valuation from stamp assessment versus net consideration for residential reinvestment: deemed stamp value replaced for gains but not for...
The central issue was whether a "virtual service permanent establishment" exists under Article 5(2)(k)/5(6) of the DTAA where no personnel are physically present in India. Relying on treaty-construction principles and Clifford Chance, the court held the DTAA must be strictly construed; Article 5's phrase "within a Contracting State" carries territorial connotation and contemplates physical presence of employees/personnel. Consequently, a virtual service PE not expressly provided by the DTAA or domestic law cannot be recognised, the Revenue's finding was rejected, the impugned NIL-withholding certificate and order were set aside and the matter remanded to the AO for fresh decision within two weeks - HC
The central issue was whether a "virtual service permanent establishment" exists under Article 5(2)(k)/5(6) of the DTAA where no personnel are physically present in India. Relying on treaty-construction principles and Clifford Chance, the court held the DTAA must be strictly construed; Article 5's phrase "within a Contracting State" carries territorial connotation and contemplates physical presence of employees/personnel. Consequently, a virtual service PE not expressly provided by the DTAA or domestic law cannot be recognised, the Revenue's finding was rejected, the impugned NIL-withholding certificate and order were set aside and the matter remanded to the AO for fresh decision within two weeks - HC
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