Continuing offence of money-laundering: discharge set aside and proceedings reinstated where laundering continued after inclusion of predicate offence...
International transaction characterisation of domestic divestment of support services business rejected; transaction between resident associated enter...
A single-member Delaware LLC was held to satisfy the India-US DTAA residence test because its income was taxable in the hands of its US corporate member and the residence State had the legal power to tax it, so treaty benefits were available. Applying the "liable to tax" principle to fiscally transparent entities, the Tribunal treated the LLC as a US resident for treaty purposes. It further held that offshore repair and overhaul receipts did not meet Article 12(4)(b)'s "make available" test, because no technical knowledge, skill or process was shown to have been transferred for independent use by the Indian recipient. The addition was deleted.
A single-member Delaware LLC was held to satisfy the India-US DTAA residence test because its income was taxable in the hands of its US corporate member and the residence State had the legal power to tax it, so treaty benefits were available. Applying the "liable to tax" principle to fiscally transparent entities, the Tribunal treated the LLC as a US resident for treaty purposes. It further held that offshore repair and overhaul receipts did not meet Article 12(4)(b)'s "make available" test, because no technical knowledge, skill or process was shown to have been transferred for independent use by the Indian recipient. The addition was deleted.
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