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09 June 2021
IBFD & Industry News
Indian Appellate Tribunal holds Morgan Stanley’s income from Indian Depository Receipts exempt under art. 22 of India-Mauritius DTAA

The Indian Income Tax Appellate Tribunal (Appellate Tribunal) allowed the assessee’s (Morgan Stanley Mauritius Co Ltd) appeal and held income from Indian Depository Receipts (IDRs) as taxable in the hands of Mauritian investors under Indian domestic tax law, but extended the exemption under article 22 of the India-Mauritius DTAA.

03 June 2021
IBFD & Industry News
Indian Income Tax Tribunal rules TP provision inapplicable for divestment of shares, deletes TP adjustment

The Indian Income Tax Appellate Tribunal deleted a TP adjustment pertaining to the divestment of shares held by the assessee (Value Labs LLP) for Assessment Year 2015-16 (equivalent to Financial Year 2014-15). 

17 June 2021
IBFD & Industry News
Spotlight on South Asian National Budgets

Insight from the IBFD Asia-Pacific Team