Tag Archives: transfer

India-Mauritius DTAA amended: Govt.

India and Mauritius signed the Protocol for amendment of the Convention for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income and Capital Gains. The key features of the Protocol are as … Continue reading

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Corp guarantees have no bearing on profits: ITAT

In a recent ruling, Income Tax Appellate Tribunal (ITAT) held that when corporate guarantees are in the nature of shareholder activities, they have no bearing on profits and in such cases no arms length price adjustments need to be made. … Continue reading

Posted in Banking Law, Company Law, Contract Law, FDI, General Law, Income Tax Law, International Law | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Policy Memorandum on L-1B Visa: USCIS

United States Citizenship and Immigration Services has issued policy memorandum that provides guidance on the adjudication of the L-1B classification. http://goo.gl/TFlj50 L-1B visa permits multinational companies to transfer employees who possess “specialized knowledge” from their foreign operations to their operations … Continue reading

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No time limit for usufructuary mortgagor to see redemption: SC

The Supreme Court of India clarified that the right of the usufructuary mortgagor to recover possession of the property commences when mortgage money is paid out of rents and profits or partly out of rents and profits and partly by … Continue reading

Posted in Civil Law, Contract Law, General Law, Real Estate | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | 5 Comments

Transfer of possession not essential under a gift: SC

A Large Bench of the Supreme Court of India clarified that the ‘transfer of possession’ of immovable property under a gift is not an essential prerequisite under Transfer of Property Act (“Act”) and does not affect the validity of a … Continue reading

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CBDT lays guidelines for identifying DC as a contract R&D service provider

Central Board of Direct Taxes (CBDT) noticed that there is divergence of views amongst the field officers and taxpayers regarding the functional profile of development centres engaged in contract R&D services for the purposes of determining arm’s length price/transfer pricing. … Continue reading

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Duty Entitlement Pass Book sale proceeds are not “profits”: Supreme Court

The Supreme Court of India clarified that the entire sum received by a person on transfer of Duty Entitlement Pass Book (DEPB) does not become his “profits”. It is only the amount that he receives in excess of the face … Continue reading

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