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Tax Library

Welcome to the tax library. Here, you can browse through a selection of our newsletters -Tax Focus and Tax Alerts- for topical tax and regulatory updates.


Tax Focus Tax Alerts
September 2012 This alert summarizes the Announcement of FDI in multi-brand retailing, broadcasting, civil aviation and others.
April 2012 Delhi High Court rules on transfer pricing aspects of royalty payment
CBDT mandates issue of 16A certificate for all deductors through TIN central system
Regulatory Alert - Circular 1 of 2012 - Consolidated FDI Policy
Delhi High Court rules on waiver of loan to be adjusted to block of assets
AAR treats buy-back of shares as tax avoidance scheme taxable as dividend under Mauritius DTAA
AAR lifts corporate veil to tax sale of convertible debentures under Mauritius DTAA
Deemed Export benefits withdrawn for supplies made to Non-Mega Power Projects
SB rules on taxability of interest paid by Indian branch to head office of a foreign bank
Delhi Tribunal rules on the meaning of the expression 'may be taxed' used in India's tax treaties
March 2012

SB rules that lessor is not entitled to depreciation in caseof 'finance lease'

India Budget 2012 Budget Impact "Oil & Gas Industry"
India Budget 2012 Budget Impact "Telecommunication Sector"
February 2012 AAR rules business support services to group entities under cost contribution arrangement is FTS

Bangalore Tribunal ruling on TP issues related to intra- group software development services

January 2012 SB rules that lessor is not entitled to depreciation in caseof ‘finance lease’
India Budget 2012 Budget Impact "Oil & Gas Industry"
India Budget 2012 Budget Impact "Telecommunication Sector"
Bangalore Tribunal ruling on TP issues related to intra- group software development services
Managing global transfer pricing issues with advance pricing agreements
India, at Arm's Length
Qualified Foreign Investment route for foreign investment in equity shares
Change in re-investment period of debt limits for Foreign Institutional Investors
100% FDI in Single Band Retail Trade
Delhi HC rules on FTS and deductibility of expenses arising from a PE
CBDT notifies Centralised Processing of Returns Scheme, 2011
Amendments to India tax treaty with Switzerland
Amendments to India tax treaty with Australia
External Commercial Borrowings denominated in Indian Rupees- hedging facilities for non-resident entities
Foreign investment in Indian equity markets
Tax Focus Tax Alerts
December 2011 Delhi HC ruling on 'business connection' and tax treatment of payments for software bundled with hardware
  Karnataka HC ruling on taxability of payments for accessing database and for purchase of computer program bundled with sale of hardware.
Mumbai Tribunal holds no depreciation allowable on BSE membership card post corporatization of BSE
AAR rules on taxability of service fees under India-Netherlands DTAA
UK Finance Bill 2012 Significant announcements
AAR holds indirect transfer of Indian shares is taxable on grounds of tax avoidance
November 2011 Karnataka HC ruling characterizes payment for purchase of shrink-wrapped computer program as royalty
  Guidelines for Banks to sponsor/ set-up Infrastructure Debt Funds (IDF) in India and foreign investment in IDF units/bonds
Set off of export receivables against import payables
Delhi HC rules on disallowance of expenditure incurred in relation to exempt dividend income
Export of Services
AAR ruling capital gains taxation under India-Mauritius DTAA
EY recommendations on Discussion Paper on Tax Accounting Standards
Uttarakhand HC rules no Construction PE if specified time threshold is not exceeded
Supreme Court rules on basis of export profits for MAT purpose
OECD's proposed changes to the Model Commentary on permanent establishments: An Indian perspective
Liberalised Remittance Scheme- Clarification
October 2011 Amendment to the Service Tax Rules, 1994
India, at Arm's Length
CBDT circular on withholding guidelines for banks on interest on Court deposits
Central Government issues Discussion Paper on Tax Accounting Standards
Karnataka HC rules computer software characterization
September 2011 Delhi ITAT ruling on whether a project office constitutes a permanent establishment
Kolkata Tribunal rules losses adjusted in the books under corporate reorganization are available for set off in computing book profit under MAT provisions
Recent developments relating to the India Mauritius Tax Treaty
August 2011 AAR rules availability of treaty benefits post shift of residence to treaty jurisdiction
Recent judgement on services provided to SEZ units or developers
Delhi High Court rules on allocation of expenses between tax holiday qualifying unit and other units
Punjab & haryana HC rules that the limitation period does not apply to withholding Tax proceedings
Mumbai ITAT rules that accreditation fees do not constitute 'Royalty'
Ernst & Young update to an earlier alert on CBDT circular on refund procedure for excess TDS on payments to residents
Mumbai ITAT rules redemption of preference shares not taxable as deemed dividend (Parle Biscuits)
Delhi HC rules on treating Indian downstream subsidiary as representative assessee
Delhi HC ruling on amount paid for out of court settlement & on Mumbai Tribunal on source rule for FTS
Mumbai Tribunal rules on source rule for fees for technical services
Delhi High Court rules amount paid for out-of-court settlement of patent infringement dispute in the US is deductible expenditure (Desiccant Rotors)
Foreign investment in mutual fund schemes
AAR rules on taxability of income from offshore supplies
AAR rules availability of treaty benefits post shift of residence to treaty jurisdiction (Siem Offshore)
Delhi HC rules on allocation of expenses between tax holiday qualifying unit & other units
Recent judgement on services provided to SEZ developers
Customs duty concession on specified goods on import from Japan
Concept paper on proposed Alternative Investment Funds Regulations
AAR ruling-Non-Resident not entitled to concessional rate of 10% on LTCG
July 2011 Guidelines for RD, ROC in the matter of scheme of arrangement
Decisions taken in SEBI Board meeting on Takover norms
Guidelines for RD, ROC in the matter of scheme of arrangement
Relating to new takeover norms
Mumbai ITAT ruling on bonus shares allotted on shares constituting foreign exchange asset
Uttarakhand HC ruling on validity of alternative dispute resolution mechanism under the ITL (Hyundai)
Mumbai ITAT explains `business connection' and attribution of profits under India's domestic tax laws (Star Cruise India Travel Services)
Hedging facilities for non- resident exporter/ importer
Regularization of LO - BO of foreign entities estabilished during pre FEMA period
Prime Dividend for companies with operations in France
Recent developments on TP audits in India on aspects of intra group services
Bombay HC rules on taxation of cross-border transactions involving India-Mauritius DTAA and indirect transfer of shares of an Indian company
Bombay HC ruling on value of assets on liquidation and Pune ITAT ruling on 'expansion'
Recent developments on TP audits in India
Redemptions of FCCB's
Buyback & Prepayment of FCCBs
New FDI policy on issue of equity shares
June 2011 Special Bench of the Mumbai ITAT rules on commission paid in lieu of dividend
CG issues notification exempting specified persons from filing a return of income
Mumbai ITAT ruling on PE exposure due to sales support activities of Indian affiliate
Cooperation on taxation between India and the OECD
EY International Tax Alert - Delhi Tribunal ruling on TP issues in the case of a captive service provider(ST Microelectronics)
EY International Tax Alert - Mumbai Tribunal ruling on TP issues (Exxon Mobil)
Pune ITAT rules portfolio management fees deductible in computing capital gains
TT: Unlisted company preferential allotment
EY International Tax Alert - Mumbai Tribunal ruling on TP issues (Symantec Software)
Delhi HC rules discounting charges made for bills of exchange are not interest(Cargill Global)
March 2011 EY Tax Alert - CBDT permits TDS certificate for non-salary TDS with digital signature
February 2011 EY Tax Alert - Export of Services
January 2011 EY Regualtory Alert - Pledge of shares
EY Tax Alert - Mumbai ITAT rules charges for data processing not royalty
EY Transaction Tax Alert - This alert summarises the latest regulations governing combinations under the Competition Act, 2002 notified on 11 May 2011
EY Tax Alert - Updated Frequently Asked Questions issued by Provident Fund Authorities
EY Regulatory Alert - Circular 1 of 2011 - Consolidated FDI Policy
EY International Tax Alert - India Finance Bill 2011 - Key amendments to transfer pricing provisions
EY Tax Alert on the case law - Mumbai ITAT rules that transfer of an undertaking under slump exchange is not liable to capital gains tax(Bharat Bijlee)
EY Tax Alert - SB of Ahmedabad ITAT rules on application of non-discrimination clause for to claim of tax holiday(Rajeev Sureshbhai)
EY Tax Alert - Delhi HC rules on taxability of benefit of waiver of loans for borrower(Logitronics/Jubiliant)
EY Tax Alert - Kolkata ITAT ruling on transfer of shares and controlling interest in an Indian company(RKBK)
EY Tax Alert - Delhi High Court ruling on characterization of payments for use of transponder capacity(Asia Satellite)
EY Tax Alert - Kerala HC rules on disallowance of expenditure incurred in relation to exempt income from tax-free investments held as stock-in-trade (CSB)
Ernst & Young TP Alert - Delhi Tribunal upholds rejection of supernormal profit making companies as comparables (Adobe)
EY Tax Alert - Mumbai ITAT rules outsourced clinical trials not eligible for weighted deduction for in-house R&D facility (Concept Pharma)
EY Tax Alert - Delhi High Court rules payment for acquisition of diverse commercial rights is eligible for depreciation although classified as 'goodwill' in books (Coca Cola)
EY Tax Alert - India notifies limited multilateral agreement on avoidance of double taxation and mutual administrative assistance in tax matters amongst SAARC nations

Click here to view 2010 Tax alerts archive

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Sudhir Kapadia 
Partner & National Director,
Tax and regulatory services
Tel: +91 (22) 6192 0000
Email: Sudhir.Kapadia@in.ey.com 

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