TagTaxation

The ITAT Ruling in the NDTV Case: Some Thoughts and Questions

[Post by Shreya Rao] The ruling of the Delhi Income Tax Appellate Tribunal (ITAT) in the case of NDTV presents a poor picture of all actors. NDTV’s transactions fail to pass the smell test. The framing of the revenue’s position fails to convince you that NDTV’s smelly transactions should trigger a tax under law. The ruling itself is a 385-page tome written in the stream of consciousness style. It...

Intention of the Legislature Under Section 14A of the Income Tax Act, 1961

[Post by Akash Santosh Loya, 3rd year B.A. LL.B.(Hons.) student from National University of Advanced Legal Studies, Kochi.] In the case of Godrej Boyce & Manufacturing Ltd. v. Deputy Commissioner of Income Tax and Anr decided last month, the Supreme Court of India decided on the issue relating to the disallowance of expenditure under section 14A of the Income Tax Act, 1961 (the ‘Act’)...

The Impact of Demonetization on the Corporate Sector

Professors Dhammika Dharmapala and Vikramaditya S. Khanna have posted a working paper titled “Stock Market Reactions to India’s 2016 Demonetization: Implications for Tax Evasion, Corruption, and Financial Constraints”, the abstract of which is as follows: On November 8, 2016, the Indian government made a surprise announcement that certain currency notes (representing 86% of the currency...

Buddh Circuit a Permanent Establishment of Formula One: Supreme Court

[In the following post, Akash Santosh Loya, who is a IIIrd Year Student, 5-year B.A. LL.B. (Hons.) Course, National University of Advanced Legal Studies, Kochi, provides a summary of a recent Supreme Court decision that has implications for international taxation.] In Formula One World Championship Ltd v. Commissioner of Income Tax, International Taxation – 3, Delhi,[1] the Supreme Court of India...

Call for Papers: Indian Journal of Tax Law

[Announcement from the Indian Journal of Tax Law] The Indian Journal of Tax Law (‘IJTL’) is a biannual journal dealing with taxation. The Journal is published by an independent organization of students from National Law University Odisha. IJTL is India’s first student edited, peer reviewed law journal focusing on taxation. The journal is focused towards enabling innovative academic research and...

Demonetization and the Income Tax Act

[The following guest post is contributed by Kailash Nath P S S, who is a lawyer and a chartered accountant, and is currently associated with Wadia Ghandy & Co., Mumbai. Views expressed here are personal and do not reflect the firm’s views.] Introduction The recent move of the Central Government exercising its powers u/s 26(2) of the Reserve Bank of India Act, 1934 (“RBI Act”), to withdraw the...

Call for Papers: Indian Journal of Tax Law (IJTL)

[The following announcement is posted on behalf of the Indian Journal of Tax Law] The Indian Journal of Tax Law (‘IJTL’) is a biannual journal dealing with taxation. The Journal is published by an independent organization of students from National Law University Odisha. IJTL is India’s first student edited, peer reviewed law journal focusing on taxation. The journal is aimed towards enabling...

India-Mauritius DTAA Protocol: Analyzing the Impact

[The following guest post is contributed by Aarush Bhatia, who is a 5th year B.A.LL.B (Hons.) student at CNLU, Patna] Introduction The protocol[i] dated 10 May 2016 amending the Double Taxation Avoidance Agreement (DTAA) between India and Mauritius is arguably the most significant changerelating to direct taxes in India in recent years, considering that approximately a third of all foreign...

GAAR and Tax Treaties

[The following guest post is contributed by Dr. Nigam Nuggehalli, who is an Associate Professor at Azim Premji University, Bangalore] The General Anti-Avoidance Rules (GAAR), to be in effect from April 1, 2017, were introduced by the government in a fit of frustration. The government found that many profitable companies were successful in avoiding tax even though their tax planning measures were...

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