Tribunal holds that proceedings under Black Money Act jurisdictionally defective where the assets under an offshore trust structure were held to be not subject to Wealth Tax in the hands of the assessee
Bangalore Tribunal remits benchmarking of brand royalty in light of BEPS Action Plan 8-101
IFSCA issues Regulations for Issuance and Listing of Securities in IFSC including by Special Purpose Acquisition Companies (SPACs)
Ahmedabad bench of Tribunal holds that the excess of net assets taken over by the amalgamated company against issue of its shares at face value towards consideration for amalgamation cannot be taxed under section 56(2)(viib) of the Act.
Payment to non-resident software manufacturers/suppliers for sale of software under end user license agreements/distribution agreements does not qualify as ‘royalties’ under DTAA and not liable for withholding taxes under section 195.
MCA notifies amendments to CSR provisions under the Companies Act, 2013 and amends Companies (Corporate Social Responsibility Policy) Rules, 2014
Mumbai bench of Tribunal holds that assets held under an offshore trust structure not subject to wealth tax in the hands of the beneficiaries in India.
IFSC Authority simplifies opening and maintenance of foreign currency bank account in IFSC by notification of International Financial Services Centres Authority (Banking) Regulations, 2020
High Court of Karnataka affirms the ruling of Special Bench of Tribunal, allows discount on issue of Employee Stock Options as revenue expenditure.
