Imported menthol-scented sweet supari classification dispute: seizure quashed, release for home consumption subject to duty bond; bank guarantee refus...
CKD/SKD air-conditioner components classifiable with finished units by essential character; prior advance ruling extended three years, FTA benefits po...
Scope of judicial review under Article 226: supervisory, not appellate; factual reappraisal barred, challenge dismissed; insolvency professional dutie...
Buy-back of shares by an Indian subsidiary was treated as a corporate reorganisation because the transaction involved transfer of shares within the same corporate group and changed the form of the foreign shareholder's interest without altering its underlying ownership. Relying on the understanding of corporate restructuring reflected in professional guidance and the object of Article 13(5) of the India-Netherlands DTAA, the Tribunal held that the resulting gains fell within that treaty provision. The gains were therefore not taxable in India, and the assessee's appeal was allowed by majority.
Buy-back of shares by an Indian subsidiary was treated as a corporate reorganisation because the transaction involved transfer of shares within the same corporate group and changed the form of the foreign shareholder's interest without altering its underlying ownership. Relying on the understanding of corporate restructuring reflected in professional guidance and the object of Article 13(5) of the India-Netherlands DTAA, the Tribunal held that the resulting gains fell within that treaty provision. The gains were therefore not taxable in India, and the assessee's appeal was allowed by majority.
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