Monday, 17 September 2012

Review Petition allowed & judgement recalled on issue of PE & profit attribution

The judgement in Rolls Royce Singapore Pvt Ltd vs. DCIT is recalled to decide the issue whether (a) ANR, which was the agent of the assessee, could be treated as the "permanent establishment: and (b) what would be the reasonable arms’ length price in the hands of ANR/ PE which can be assesssed in India.

Rolls Royce Singapore Pvt Ltd vs. DCIT (Delhi High Court)

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GAAR Not Applicable to Genuine Capital Market Transactions: Telangana High Court

In a significant ruling, the Telangana High Court held that General Anti-Avoidance Rules (GAAR) cannot be invoked merely because a transacti...