Appointment of Registrars as adjudicating officers under Companies Act reallocates territorial jurisdiction and sets appeal route to Regional Director...
Composite supply of drilling services and site specific chemicals characterised as composite supply; prior advance rulings set aside, tax rate left op...
Cross country pipeline classification and ITC entitlement: pipelines outside factory treated as immovable, ITC disallowed under Section 17 restriction...
Dominant issue: whether capital gains on sale of shares held by Mauritius-incorporated companies are taxable in India given residence, treaty relief and anti-avoidance rules. The Court found prima facie that effective management/residence and Article 13's scope were contestable and that the transactions lacked commercial substance; GAAR (and alternatively JAAR/substance-over-form) could pierce the structure. Reasoning: documentary timeline, board approvals post cut-off, contra-factual tax positions and burden shift under Section 96(2) established a prima facie tax-avoidance scheme. Outcome: applications to AAR were correctly rejected under proviso (iii) to Section 245R(2); capital gains on transfers after 01.04.2017 are taxable in India and Chapter X-A applies. - SC
Dominant issue: whether capital gains on sale of shares held by Mauritius-incorporated companies are taxable in India given residence, treaty relief and anti-avoidance rules. The Court found prima facie that effective management/residence and Article 13's scope were contestable and that the transactions lacked commercial substance; GAAR (and alternatively JAAR/substance-over-form) could pierce the structure. Reasoning: documentary timeline, board approvals post cut-off, contra-factual tax positions and burden shift under Section 96(2) established a prima facie tax-avoidance scheme. Outcome: applications to AAR were correctly rejected under proviso (iii) to Section 245R(2); capital gains on transfers after 01.04.2017 are taxable in India and Chapter X-A applies. - SC
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