Proceeds of crime and money laundering: PMLA prosecution requires subsisting predicate offence; discharge of predicate accused precludes further prose...
Validity of faceless assessment procedure challenged for jurisdictional AO intervention mid-remand, resulting in quashing of assessment for procedural...
Taxability of capital gains arising on sale of equity shares/CCDs by a Singaporeincorporated subsidiary was examined under the India-Singapore DTAA. The tribunal found the entity to be a shell/conduit lacking commercial substance-no office, employees, or operating costs-and held that mere possession of a tax residency certificate is insufficient. Applying the substanceoverform approach, the limitationonbenefits (LOB) provision was attracted, denying treaty relief. Consequentially, the capital gains were held taxable in India under the source rule and treaty benefits under the India-Singapore DTAA were disallowed.
Taxability of capital gains arising on sale of equity shares/CCDs by a Singaporeincorporated subsidiary was examined under the India-Singapore DTAA. The tribunal found the entity to be a shell/conduit lacking commercial substance-no office, employees, or operating costs-and held that mere possession of a tax residency certificate is insufficient. Applying the substanceoverform approach, the limitationonbenefits (LOB) provision was attracted, denying treaty relief. Consequentially, the capital gains were held taxable in India under the source rule and treaty benefits under the India-Singapore DTAA were disallowed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4811 
Join Channel 
