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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 Quarterly Tax Alerts
April 2013 Gujarat High Court rules on weighted deduction on clinical trials for in-house R&D (Cadila Healthcare Ltd.)
  TP Alert - Indian tax administration issues circulars on transfer pricing issues relating to development centers
  Regulatory Alert on Consolidated FDI Policy 2013
March 2013 Delhi High Court issues directions to redress taxpayer’s grievances on TDS credit (Court on its own motion)
  Budget PLUS 2013 - Alert on Telecom
  Budget PLUS 2013 - Alert on Technology
  Budget PLUS 2013 - Alert on Media & Entertainment
  Budget PLUS 2013 - Alert on Financial Services
  Budget PLUS 2013 - Alert on Retail & Consumer Products
  Budget PLUS 2013 - Alert on Aerospace & Defence
  Budget PLUS 2013 - Alert on Oil & Gas
  Budget PLUS 2013 - Alert on Life Sciences
  Budget PLUS 2013 - Alert on International tax provisions
  Budget PLUS 2013 - Alert on utomobile
  Budget PLUS 2013 - Alert on Infrastructure
  Budget PLUS 2013 - Alert on Real Estate
  Budget PLUS 2013 - Alert on Human Capital
  TP Alert -Mumbai Tribunal rules on transfer pricing aspects of intra-group software development services (Capgemini)
  CENVAT credit refund ineligible in respect of onsite services (rendered abroad) prior to 27 February 2010 as the same does not constitute exports (Tech Mahindra)
  Maharashtra State Budget – FY 2013 -2014
February 2013 Guidelines for licensing of new banks in the private sector
Listed Companies prohibited from framing employee benefit schemes involving acquisition of shares from the secondary market
Himachal Pradesh HC upholds validity of CBDT Circular on inadmissibility of unethical payments to doctors (Confederation of Indian Pharmaceutical Industry)
Transfer Pricing Newsletter - India, at Arm's Length - October to December 2012
High Court in India rules on taxation of indirect transfer under India-France Double Taxation Avoidance Agreement (Sanofi)
Delhi Income-tax Appellate Tribunal rules on transfer pricing aspects of provision of indenting services (Sumitomo)
Central Government issues tax rules for electoral trusts
SEBI notifies revised requirements for undertaking Scheme of Arrangements under the Companies Act, 1956
Punjab & Haryana High Court rules single lower withholding tax certificate valid for all units of payer despite having different TANs (Parle Biscuits)
Delhi Tribunal rules on royalty secondary source rule in domestic tax laws (Qualcomm Incorporated)
TP Alert -Ruling by Special Bench of Delhi Income-tax Appellate Tribunal on transfer pricing aspects of marketing intangibles (LG Electronics)
January 2013 TP Alert - Bangalore Tribunal rules on transfer pricing aspects of intra-group contract R&D services (GE India Technology)
CBDT notifies Centralised Processing of Statements of TDS Scheme, 2013
CBDT clarifications on contentious issues relating to export of computer software
Bombay High Court approves treaty benefits to a German limited partnership (Chiron Bearing)
SC rules that lessor is entitled to depreciation on assets given on lease (ICDS)
Bombay HC rules FTC relief available even when foreign taxes are not paid in the relevant tax year (Petroleum India International)
India’s new company law seeks to introduce arm’s length concept for related party transactions
Press Release from the Ministry of Finance and Final Report of the Expert Committee on GAAR
CBEC Circular regarding initiation of recovery proceedings
GOI notifies exemption from withholding on specified charges paid to Indian Scheduled banks
Tax Quarterly Tax Alerts
December 2012 CBDT notification on Fair Market Valuation guidelines of unquoted equity shares for private companies
Key tax highlights of the UK Autumn Statement 2012
Regulatory Alert - Overseas investment by Core Investment Companies
IDT Alert- The Service Tax (Determination of Value) Rules, 2006 which provide for the inclusion of certain expenditure or costs in the value of taxable services held to be ultra vires
Regulatory Alert - Revised regulatory framework for Non Banking Financial Companies
Tribunal on determining destination of export in respect of money transfer services(Paul Merchants Limited)
Indian Tribunal rules on comparability issues in transfer pricing on provision of intra-group software development services (Trilogy)
Bangalore ITAT rules on appropriate tax rate for grossing up payments in absence of PAN (Bosch)
Lok Sabha passes Companies Bill, 2012 which could have far reaching impact on Indian M&A landscape
November 2012 Delhi HC rules on tax treatment of non-compete fee paid (Sharp Business)
Mumbai Tribunal on the interpretation of “dealt with” in the Other Income article of the India-Swiss DTAA in respect of international shipping profits( (Mediterranean Shipping Company)
Hyderabad Tribunal rules carbon credit entitlement as capital receipt (My Home Power)
2012 Protocol amending the 1993 India UK DTAA
Delhi ITAT rules on characterization and taxability of payments for accessing information on website (ONGC Videsh)
October 2012 Draft Report of Expert Committee on Retrospective Amendments relating to indirect transfer
India includes comments in draft UN Practical Manual on Transfer Pricing Issues for Developing Countries
Transfer Pricing News letter - India at Arm's length - July to September 2012
Additional reporting requirement for a Branch Office, Liaison Office and Project Office established in India by Foreign entities
Final report of Accounting Standards Committee of CBDT
Supply of Goods and Services by Special Economic Zones to Domestic Tariff Areas against payment in foreign exchange
September 2012 This alert summarizes the Announcement of FDI in multi-brand retailing, broadcasting, civil aviation and others.
India publishes rules for implementing Advance Pricing Agreements
Expert Committee Recommendations on GAAR
Excise duty to be computed on the basis of manufacturing cost plus profit where the goods are sold at a price below the cost of production(Fiat India)
VAT on sale of under-construction flats in Maharashtra(MCHI)
SC rules discount not in the nature of commission (Ahmedabad Stamp Vendors)
Clarification regarding levy of Service tax on construction services in respect of Redevelopment and Slum Rehabilitation Projects and on Floor rising charges
Delhi HC rules that distinction between copyrighted article and copyright right still relevant under DTAA despite retrospective amendment to domestic tax law definition of ‘royalty’ ( Nokia Networks OY)
Liberalisation of FDI Policy (Press Notes 4 to 8)
Delhi Tribunal issues ruling on transfer pricing for procurement companies(GAP International)
CBDT Circular on approval for foreign currency borrowings to avail lower withholding tax rate
CBDT notifies format of application and procedure for obtaining a TRC
Mumbai Tribunal rules on selection of transfer pricing method and on method of averaging of comparable data
Supreme Court rules penalty cannot be levied for inadvertent mistake (PwC Pvt. Ltd.)
Mumbai Tribunal rules on income classification and PE in respect of e-commerce transaction (eBay International AG)
August 2012 Supreme Court rules on maintainability of appeal against AAR rulings (Columbia Sportswear)
Press note 2 and 3 of 2012 with reference to Consolidated FDI Polciy
Recent tax policy related announcements by Govt of India
AAR declines ruling but casts a shadow on applicability of ’gift exemption’ to share transfers by corporations (Orient Green Power)
Transfer Pricing News letter - India at Arm's length - April to June 2012
Uttarakhand HC rules on exemption for employee’s income tax liability borne by employer (Sedco Forex)
Madras HC rules landing and parking charges paid to AAI are not rent liable for withholding (Singapore Airlines)
AAR rules on applicability of Mauritius DTAA and taxation of share buyback (Armstrong World)
Bombay HC rules slot hire arrangements entitled to DTAA benefits (Balaji Shpping)
Supreme Court rules on whether goodwill is intangible asset eligible for depreciation (SMIFS)
HC rules unabsorbed depreciation pertaining to tax years 96-97 to 00-01 can be carried forward and set off for indefinite period (General Motors)
AAR rules on non eligibility of fiscally transparent Swiss partnership firm to claim treaty benefits (Schellenberg Wittmer)
CBDT sets up institutional mechanism to formulate ‘Departmental View’ on contentious legal issues
Indirect Tax Alert - Charging section of the Jharkhand Entry Tax Act on Consumption or Use of Goods Act, 2011
AAR rules payments for transfer of telecommunication cable capacity taxable as royalty (Dishnet Wireless)
July 2012 Gujarat HC rules on constitutional validity of retrospective amendments (Avani Exports)
AAR rules sale of Indian shares by Mauritius company not taxable in India (Dynamic India Fund I)
Madras HC rules ESOP cost is tax deductible for company (PVP Ventures)
Delhi HC rules earn-outs as taxable capital gains in the year of transfer (Ajay Guliya)
Delhi HC rules subvention payment made by holding company to its subsidiary to recoup losses not taxable(Deutsche Post Bank)
June 2012 Ahmedabad Tribunal rules on weighted deduction on clinical trials for in-house R&D and scope of profit-linked tax holiday for industrial undertakings (Cadila Healthcare)
Transfer Pricing News letter- India at Arms length - January - March 2012
Service tax update - Negative list effective 1 July 2012
TP Alert - OECD publishes revised draft of guidance on transfer pricing of intangibles
Special Bench rules on applicability of Section 14A to partners of partnership firm (Shri Vishnu Anant Mahajan)
GOI notifies exemption from withholding on software purchase from residents
CENVAT Credit Notification issued specifying revised procedure for refund
Service tax Notifications issued to supplement the operationalization of the Negative List
Kolkata ITAT rules on taxation of composite contracts involving offshore supply of equipments (Dongfang Electric Corporation)
Kolkata ITAT explains interplay between specific and residuary article under a DTAA.(Andaman Sea Food)
Regulatory Alert - Foreign investment in long term government and corporate debt
Draft Guidelines for implementation of GAAR
May 2012 Delhi Tribunal grants additional depreciation on assets purchased for power generation (NTPC)
Budget Plus 2012 - Amendments to Finance Bill 2012 based on FM speech
Budget Plus 2012 - Key amendments to Finance Bill 2012
Ahmedabad ITAT rules on meaning of the expression ‘top-level managerial position (Mohan Balakrishnan)
Mumbai Tribunal rules on credit of withholding tax in hands of intermediary (Arvind Murjani)
Karnataka High Court explains the expression ‘make available’ (De Beers)
Delhi HC rules that ICDs are ‘inland port’ eligible for infrastructure tax holiday benefit (Container Corporation)
AAR rules contribution towards R&D under cost allocation agreement taxable as ‘royalty’ (A Systems)
Regulatory Alert - SEBI(Alternate Investment Funds) Regulations, 2012 - Notified by SEBI
TP Alert Mumbai Tribunal rules use of 'brightline' approach to benchmark AMP expenditures is not equivalent to application of TNMM (Genom Biotech)
Delhi HC rules on ‘source’ of FTS paid in connection with export activity (Havells)
TP Alert - India introduces a new transfer pricing method
CBDT Clarification on applicability of retrospective amendments to completed assessments (May 12)
April 2012 Delhi High Court rules on transfer pricing aspects of royalty payment
AAR rules on taxation of fees of technical services in India (X Group)
Regulatory alert - Concept paper on proposed Alternative Investment Funds Regulations(Aug 11)
Regulatory alert - Regulation of Alternative Investment Funds
AAR lifts corporate veil to tax sale of convertible debentures under Mauritius DTAA
AAR treats buyback of shares as tax avoidance scheme taxable as dividend under Mauritius DTAA(A Mauritius)
Karnataka HC rules that Section 14A disallowance not attracted when shares held as stock-in-trade(CCI)
Regulatory Alert - Circular 1 of 2012 - Consolidated FDI Policy
Delhi High Court rules on waiver of loan to be adjusted to block of assets (Steel Authority of India Ltd.)
CBDT mandates issue of 16A certificate for all deductors through TIN central system
SB of Vishakhapatnam Tribunal rules no disallowance for withholding tax default where expenses are ‘paid’ during the year (Merilyn Shipping)
Delhi High Court rules on transfer pricing aspects of royalty payment (EKL Appliances)
Delhi HC rules slump sale taxation applies to variety of transfers including ‘sale’ transactions(SREI Infrastructure Finance)
Mumbai Tribunal rules that ‘itemized sale’ of assets with an intention to transfer entire undertaking is a slump sale (Mahindra Engg)
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 of Mumbai Tribunal rules that negative net worth should be added to sales consideration for computing capital gains upon slump sale (Summit Securities)
Key recommendations from the Standing Committee on the Direct Taxes Code 2010 provisions
Hyderabad Tribunal rules on tax Holiday for Infrastructure development (GVPR Engineers)
Budget Plus 2012 -Budget alert on life sciences sector
Budget Plus 2012 - Budget alert on international tax provisions
Budget Plus 2012 -Budget alert on financial services sector
Budget Plus 2012 -Budget alert on transfer pricing provisions
Budget Plus 2012 - Budget alert on infrastructure sector
Budget Plus 2012 - Budget alert on Oil & Gas sector
Budget Plus 2012 - Budget alert on Telecom sector
SB rules that lessor is not entitled to depreciation in case of ‘finance lease’ (Indusind)
Budget Plus 2012 -Budget alert on key anti-abuse provisions
Budget Plus 2012 -Budget alert on retail & consumer products
Budget Plus 2012 - Budget alert on real estate sector
AAR rules on tax implications in a secondment arrangement(Centrica)
Changes made to the UN Model Convention and Commentary in the 2011 update
Maharasthra Budget Alert
India Budget 2012 Budget Impact "Oil & Gas Industry"
India Budget 2012 Budget Impact "Telecommunication Sector"
February 2012India signs Convention on Mutual Administrative Assistance in tax matters
Indian tribunal rules on entity characterization for transfer pricing purposes (AIA Engineering)
Transfer pricing news letter - India, at Arms Length October - December 2011 edition (Jan 12)
RBI Circular on Infrastructure Finance Companies availing ECBs
AAR rules on taxability of income from offshore supplies(SEPCO III)
AAR rules business support services to group entities under cost contribution arrangement is FTS (Shell India Markets)
Delhi HC rules on keyman insurance policy taxation (Escorts Heart)
Supreme Court rules on export profit deduction for DEPB (Topman Exports)
Supreme Court rules on exclusion of non-export receipts on net basis (ACG Associated)
Bangalore Tribunal ruling on TP issues related to intra- group software development services(Kodiak Networks)
CBEC's clarifications on applicability of Service tax under different business models in construction sector
CBEC's clarification on continuity of area-based excise exemption in specific situations
Amendments to the Foreign Trade Policy denying certain Deemed Export benefits to non-mega power projects
Transaction tax alert on recent amendments to the Combination Regulations

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’
CCI order on merger of Wyoming into TCL
100% FDI in Single Brand Retail Trade
CBDT notifies Centralised Processing of Returns Scheme, 2011
Delhi HC rules on FTS and deductibility of expenses arising from a PE (Rio Tinto)
SB of Tribunal rules that past business losses cannot be set off against capital gains on assets used for business (Nandi Steels)
Mumbai ITAT rules on existence of DAPE and profit attribution (Delmas)
SEBI Circular on Change in re-investment period of debt limits for Foreign Institutional Investors
RBI & SEBI Circular on Qualified Foreign Investment route for foreign investment in equity shares
The Vodafone case: SC rules transfer of shares of a foreign company that indirectly held underlying Indian assets not taxable
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 Quarterly 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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