Tax

We asked the corporate defenders whether the war on tax terrorism can be won [via Mint]

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Vodafone: Posterchild for Indian tax troubles
Vodafone: Posterchild for Indian tax troubles
*Vodafone has become a shorthand for Indian tax troubles, but in the last year or so, it has won several important high court decisions (though not for lack of resistance from government lawyers).

Delhi HC lays down law on Vodafone-type tax structures: 50% is threshold for substantial Indian assets

ylony2tm
ylony2tm
A Delhi high court judgment has ruled against the Income Tax Department but in effect upped the pressure on other Mauritius or overseas-based tax avoidance structures.

Union Budget 2014 highlights: Dissected by ELP & Link Legal

The Union Budget 2014 – the new BJP government’s first budget presented by Arun Jaitley yesterday – failed, like its predecessors, in providing a definite path and timeline for the Goods and Service Tax (GST) regime, did nothing to address the problem of retrospective amendments, or to enact the Dir...

Budget 2012: Court work exempt from service tax, law firms stay in net

Gov't Lions still gobble up lawyer fees but not in court
Gov't Lions still gobble up lawyer fees but not in court
Breaking: Fees earned by lawyers in courts or tribunals will not be subject to service tax under the Union Budget, which expanded the overall scope of service tax to everything except for a few exceptions.

Breaking live updates: Vodafone lawyer says retrospective amendment of tax rules unconstitutional, won’t stand up; ALMT partner says is fine

Vodafone: Not happy with UnRule of Law?
Vodafone: Not happy with UnRule of Law?
The Union Budget’s plan to tax Vodafone’s Indian Hutch takeover and similar transactions retrospectively going back to 1962 is unconstitutional and would not pass scrutiny of the courts, said Dutt Menon Dunmorrsett Mumbai-based partner Fereshte Sethna, who represented Vodafone in its Rs 11 crore ($2.4bn) dispute with the tax office in the Mumbai High Court and the Supreme Court.

Budget 2012: Live blog for lawyers

Stop, hammertime.
Stop, hammertime.
Live: The Budget 2012 speech is kicking off at 11am and Legally India will blog it live. What do you think it holds for lawyers and clients? Hike service tax for lawyers or abolish it? Increase FDI? Vodafone, round 27? DTC news? Tinker with near-unusable LLPs? Massive tax benefits for all? Damp squib? Share your thoughts and follow our live blog.

Analysis: Tax lawyers mull law, jurisprudence & world post-Vodafone

Economic Laws Practice (ELP) and Nishith Desai Associates (NDA) analysed the legal implications of the Vodafone judgment yesterday – a decision law firms across the board commended for boosting India’s image as an investment destination, upholding the rule of law and settling many questions.

Finance Min gives lawyers an inch on service tax

four-lions-india
four-lions-india
The Finance Ministry has reversed its earlier budget proposal that would make service tax payable by professionals such as lawyers when bills are issued rather than when they are paid, after protests and representations from lawyers that this would be unduly onerous.

Authority for Advance Rulings goes against Vodafone in Quippo case

Exclusive: The Authority for Advance Rulings (income tax) has pronounced an order in favour of former Tata-Quippo shareholder DBZ Mauritius, which is contrary to the Bombay High Court’s view in the Vodafone-Essar tax case.

Budget Live Blog: Tax and corporate lawyers’ analysis and reactions to 2011-12 Union Budget

Indian Rupee currency bills (XL)
Indian Rupee currency bills (XL)
”) 11:00am The Finance Minister Pranab Mukherjee’s 2011 India Union budget has just started after having been approved by cabinet. This blog will begin in earnest once the budget is over and we can get reactions from lawyers. In the meantime, IBN Live has a nice live blog page with a fast video and text updates. Please post your comments and thoughts on the budget below in the meantime.

Legal pulse: Brand promotion without reference to offering not service taxable

Economic Laws Practice (ELP) has won a Rs 257 crore service tax reprieve for clients Jetlite before the Custom Excise & Service Tax Appellate Tribunal (CESTAT) which held that brand promotion without reference to services offered under business auxiliary services (BAS) category is not taxable.

Delhi HC stays service tax on immovable property rental, ping-pongs question back to apex court

Exclusive: The Delhi High Court has again stayed the imposition of service tax imposition on immovable property rentals in one of the Home Solutions cases, reaffirming its earlier stance. The order contradicted a Punjab & Haryana High Court order and put the ball back into the Supreme Court, which had asked for the Delhi High Court to adjudicate.

Back to drawing board: Vodafone-Hutch tax judgment has major impact on M&A

bombay-high-court-oval
bombay-high-court-oval
Yesterday’s Bombay High Court decision that the tax authorities are permitted to assess Vodafone for its Indian tax liability in its acquisition of Hutchison Whampoa in 2007, means that previous and future foreign investments into India would face legal uncertainty, according to tax and corporate lawyers.

How Linklaters tax ruling affects foreign professionals: 'wide ramifications', 'questionable', more litigation 'certain'

four-lions-india
four-lions-india
Friday’s Mumbai Income Appellate Tax Tribunal (ITAT) ruling against Linklaters makes potentially all overseas professional services and law firms subject to income tax in India for the last six years or more if their staff visit India for 90 days in aggregate per year. The repercussions could be serious, according to Indian tax lawyers.

Legal Pulse: Today's new service tax regime, under the lens, criticised

four-lions-india
four-lions-india
The government post-budget notifications to tax new services and amend taxation of existing ones have taken effect today, particularly impacting sectors such as aviation, construction and hospital services while retrospective service tax imposition on rentals of immovable property and commercial coaching could increase litigation.

Legal pulse: Direct Tax Code (DTC) draft analysed

four-lions-india
four-lions-india
The revised discussion paper on the Direct Tax Code (DTC) released by the Ministry of Finance on 15 June has received positive feedback from industry players by further simplifying existing tax provision and incorporating key proposals made by stakeholders.

Legal pulse: Major transfer pricing dispute settled, offers relief to some Indo-US businesses

A recently negotiated settlement under the mutual agreement procedure (MAP) between the Indian and US tax authorities has favourably resolved transfer pricing disputes from 2004 and 05, according to reports.

Legal pulse (tax): No service tax on immovable property but questions remain

The Delhi High Court stayed the recovery of service tax on rentals of immovable property, reaffirming its April 2009 decision after the Government had sought to impose the tax by amending the charging section under the Finance Act 2010.

Legal pulse (tax): Three cases lay to rest withholding tax debate post 2009 Samsung-decision

A raging tax controversy in respect of withholding tax on remittances to non-residents has been resolved after three March and April rulings of the Delhi High Court in the Van Oord case, its order in Maharishi Housing Development case and the latest ruling by the Special Bench of Tax Tribunal, all of which override the November 2009 Karnataka High Court decision in the Samsung case.

Legal Pulse (tax): Consortia can not be taxed as 'Association of Persons'

The Authority for Advance Ruling (AAR) has reiterated that sharing of profits and not income would be the determining factor in finding the existence of an Association of Persons (AOR) for the purpose of taxation, while holding that a consortium cannot be treated as an AOR.