In its ruling in Union of India v. Assn. of Unified Telecom Service Providers of India1 and other connected matters (AGR case), a three-judge bench of the Supreme Court (SC) put an end to a nearly two-decade-long dispute over the Department of Telecommunications, Government of India's interpretation of adjusted gross revenue (AGR) (DoT).
Indirect Tax_Latest Judicial Precedents_ October 2016Ashish Chaudhary
The document provides a summary of 10 indirect tax judicial precedents from October 2016.
1. Subscription money collected from shareholders for membership to a club was considered consideration for taxable services and liable to service tax, even if part was treated as share capital.
2. A job worker was not eligible for service tax exemption when the principal manufacturer availed central excise exemption on manufacture, as per the terms of the exemption notification.
3. Construction of a pipeline within a factory could not be considered construction of a building or civil structure, so credit for the related work contract service was admissible.
Indirect tax latest judicial precedents december 2015Ashish Chaudhary
The document provides a summary of recent indirect tax judicial precedents from December 2015.
Three key cases are summarized:
1. The High Court held that credit of duty paid for installing telecommunication towers is not eligible as the towers are considered immovable property.
2. The High Court dismissed a writ petition claiming film actors should receive the same tax exemption as native artists, finding the two categories are distinct.
3. The High Court held that recovery proceedings cannot be initiated before an adjudication order determines the demand amount.
ABSTRACT
Chemical is right at the core of advance industrial systems, which is why it has attained a serious concern for disaster management. Chemical disasters are often traumatic in impact on humans usually resulting in casualties along with damage to nature and property. Unlike natural disasters, preventive and regulatory measures assume greater significance when we talk about chemical disasters. India too, has witnessed several chemical disasters in the past 50 years, highlighting the need for safeguards against such events. This paper’s focus lies on two of the most dangerous gas leaks India has witnessed until this date, i.e. the Bhopal Gas Leak and the Vizag Gas Leak. The author discusses in detail what went wrong prior to and during the Bhopal Gas leak, which is followed by an explanation on how the safety initiatives have evolved after the 1984 incident. In the next section, the author tries to decode the Vizag leak of 2020 with emphasis on how the company could bypass the safety norms in place. The author then discusses the gap in the present framework governing Chemical Disasters (including gas leaks) and proposes certain measures that could be implemented for effective management of such disasters.
We are pleased to share our June 2022 edition of the GST Bulletin covering recent amendments/ updates in the realm of GST.
This issue covers in detail the following:
1. Judicial Updates
• No GST on services by security manager located outside India for subscription to secured notes placed in USA.
• Concessional GST rate of 0.75% on construction applies to promoter and not to sub-contractor.
• Ocean freight levy violates 'Composite supply' principle under GST.
• Secondment of employees by Overseas Group Company is covered under Manpower Supply & liable to service tax.
• Charitable clubs imparting sports training exempt, however entrance/membership fees taxable.
2. Notifications/ Circulars
• Due date for filing GSTR-3B for April 2022 extended.
• Due date for payment of tax in GST PMT-06 for April 2022 extended.
• Late fee for delay in filing of Form GSTR-4 waived off.
3. GST Compliance Calendar for June 2022
TransPrice Times - 1st - 15th August 2017Akshay KENKRE
Dear Members,
We are pleased to present TransPrice Times for first fortnight of the month of August 2017.
This periodical broadly covers important rulings, addressing different key issues pertaining to associated enterprises, allocation of unallocable costs among business segments, and determination of most appropriate methods in transfer pricing.
Thank You and Happy Reading!!
Taxation of Royalty - By CA Parul Aggarwalparul mittal
In Post BEPS era and with unprecedented technological advancement, the characterization of royalty payments and its subsequent taxation has gained paramount importance. With this, the tax structures have also undergone sea change. This presentation discusses the treaty interpretation through analysis of various case laws relating to characterization and taxability of royalty payment.
1. The Bombay High Court clarified that the CCI must determine its own jurisdiction before investigating allegations of cartelization among debenture trustees.
2. The Supreme Court admitted appeals by United Breweries and others challenging penalties imposed by CCI, and stayed recovery of the penalties subject to further deposits.
3. Key developments included the Competition (Amendment) Act being notified, constituting a committee on digital competition law, and CCI beginning examining anti-profiteering matters under GST.
Indirect Tax_Latest Judicial Precedents_ October 2016Ashish Chaudhary
The document provides a summary of 10 indirect tax judicial precedents from October 2016.
1. Subscription money collected from shareholders for membership to a club was considered consideration for taxable services and liable to service tax, even if part was treated as share capital.
2. A job worker was not eligible for service tax exemption when the principal manufacturer availed central excise exemption on manufacture, as per the terms of the exemption notification.
3. Construction of a pipeline within a factory could not be considered construction of a building or civil structure, so credit for the related work contract service was admissible.
Indirect tax latest judicial precedents december 2015Ashish Chaudhary
The document provides a summary of recent indirect tax judicial precedents from December 2015.
Three key cases are summarized:
1. The High Court held that credit of duty paid for installing telecommunication towers is not eligible as the towers are considered immovable property.
2. The High Court dismissed a writ petition claiming film actors should receive the same tax exemption as native artists, finding the two categories are distinct.
3. The High Court held that recovery proceedings cannot be initiated before an adjudication order determines the demand amount.
ABSTRACT
Chemical is right at the core of advance industrial systems, which is why it has attained a serious concern for disaster management. Chemical disasters are often traumatic in impact on humans usually resulting in casualties along with damage to nature and property. Unlike natural disasters, preventive and regulatory measures assume greater significance when we talk about chemical disasters. India too, has witnessed several chemical disasters in the past 50 years, highlighting the need for safeguards against such events. This paper’s focus lies on two of the most dangerous gas leaks India has witnessed until this date, i.e. the Bhopal Gas Leak and the Vizag Gas Leak. The author discusses in detail what went wrong prior to and during the Bhopal Gas leak, which is followed by an explanation on how the safety initiatives have evolved after the 1984 incident. In the next section, the author tries to decode the Vizag leak of 2020 with emphasis on how the company could bypass the safety norms in place. The author then discusses the gap in the present framework governing Chemical Disasters (including gas leaks) and proposes certain measures that could be implemented for effective management of such disasters.
We are pleased to share our June 2022 edition of the GST Bulletin covering recent amendments/ updates in the realm of GST.
This issue covers in detail the following:
1. Judicial Updates
• No GST on services by security manager located outside India for subscription to secured notes placed in USA.
• Concessional GST rate of 0.75% on construction applies to promoter and not to sub-contractor.
• Ocean freight levy violates 'Composite supply' principle under GST.
• Secondment of employees by Overseas Group Company is covered under Manpower Supply & liable to service tax.
• Charitable clubs imparting sports training exempt, however entrance/membership fees taxable.
2. Notifications/ Circulars
• Due date for filing GSTR-3B for April 2022 extended.
• Due date for payment of tax in GST PMT-06 for April 2022 extended.
• Late fee for delay in filing of Form GSTR-4 waived off.
3. GST Compliance Calendar for June 2022
TransPrice Times - 1st - 15th August 2017Akshay KENKRE
Dear Members,
We are pleased to present TransPrice Times for first fortnight of the month of August 2017.
This periodical broadly covers important rulings, addressing different key issues pertaining to associated enterprises, allocation of unallocable costs among business segments, and determination of most appropriate methods in transfer pricing.
Thank You and Happy Reading!!
Taxation of Royalty - By CA Parul Aggarwalparul mittal
In Post BEPS era and with unprecedented technological advancement, the characterization of royalty payments and its subsequent taxation has gained paramount importance. With this, the tax structures have also undergone sea change. This presentation discusses the treaty interpretation through analysis of various case laws relating to characterization and taxability of royalty payment.
1. The Bombay High Court clarified that the CCI must determine its own jurisdiction before investigating allegations of cartelization among debenture trustees.
2. The Supreme Court admitted appeals by United Breweries and others challenging penalties imposed by CCI, and stayed recovery of the penalties subject to further deposits.
3. Key developments included the Competition (Amendment) Act being notified, constituting a committee on digital competition law, and CCI beginning examining anti-profiteering matters under GST.
1) The Delhi High Court ruled that the time limit of 90 days to file Form TRAN-1 to carry forward CENVAT credits from previous indirect tax regimes to GST was directory, not mandatory.
2) As the GST transition has not been smooth, what was reasonable in ideal circumstances could not be expected currently.
3) In the absence of a specific time limit in the GST Act, the court held that the 3 year limitation period under the Limitation Act would apply, allowing taxpayers until June 30, 2020 to file Form TRAN-1.
The document provides a summary of recent indirect tax judicial precedents from June 2016. Some key highlights include:
- The High Court struck down service tax audit rules and circulars as being ultra vires the Finance Act.
- In the absence of rules to identify the service element, no service tax can be levied on composite contracts involving land or immovable property.
- It is not compulsory under service tax law to claim unconditional exemptions. Exemptions do not need to be claimed.
- Incentives or volume discounts received from media owners are not consideration for services and not liable to service tax.
- Cenvat credit can be claimed even if the process carried out on
TransPrice Times 16th - 31st August 2017Akshay KENKRE
Dear Members,
We are pleased to present TransPrice Times for Second fortnight of the month of August 2017.
This periodical broadly covers important rulings, addressing different key issues pertaining to foreign exchange gain as operating revenue, transfer pricing adjustment on non-utilization of agreed services and determination of most appropriate methods in transfer pricing.
We would be happy to know your suggestions. You can write to us at akshaykenkre@transprice.in
Thank You and Happy Reading!!
Issue of marketing intangibles in India- Breath of Fresh AirAjit Kumar Jain
The document discusses a landmark Indian court ruling on the issue of transfer pricing adjustments made by tax authorities related to marketing intangibles. Specifically, the ruling addressed whether excessive advertising, marketing and promotional expenses incurred by Indian affiliates of multinational enterprises constituted an international transaction under Indian tax law. The court rejected arguments made by taxpayers and held that such expenses were international transactions. It also held that the transactional net margin method could be used to evaluate pricing when marketing and distribution functions are interrelated. The court provided clarity on several issues around marketing intangibles, but questions remain about applying its principles to licensed manufacturers.
INCOME TAX – INTERNATIONAL TAXATION
Tax Residency Certificate – DTAA Benefits
The Punjab and Haryana High Court, has held that Tax Residency Certificate issued by a foreign country can be considered valid for the purpose of claiming benefit under the Indo – Mauritius DTAA. The Court reversed the AAR Ruling and relied upon CBDT Circular No. 789 to the effect that certificate of residence issued by the Mauritius Authorities constitute sufficient evidence for residential status.
TransPrice Times 15th - 31st January 2016Sangesh Sase
Dear Readers,
We are pleased to present the second fortnightly TransPrice edition for the period 15th - 31st January 2016. The newsletter provides a round-up of key transfer pricing developments in India.
Further, the newsletter gives snapshot of the significant case laws pronounced and its implications and also provides information on the latest happenings in India.
We hope you find this newsletter both timely and useful, and we look forward to your feedback and suggestions to improve it further. You can write to us at akshaykenkre@transprice.in
Happy Reading!!!
TransPrice Times 15th - 31st January 2016Akshay KENKRE
Dear Readers,
We are pleased to present the second fortnightly TransPrice edition for the period 15th - 31st January 2016. The newsletter provides a round-up of key transfer pricing developments in India.
Further, the newsletter gives snapshot of the significant case laws pronounced and its implications and also provides information on the latest happenings in India.
We hope you find this newsletter both timely and useful, and we look forward to your feedback and suggestions to improve it further. You can write to us at akshaykenkre@transprice.in
Happy Reading!!!
1. The document summarizes key updates from the Tax Bulletin of June 2020 regarding direct tax matters in India.
2. It discusses two judicial cases - in the first case, the ITAT held that no disallowance under section 14A can be made if the assessee has not earned any tax-exempt income. In the second case, the ITAT allowed depreciation on the cost of a golf course by considering it as "plant and machinery".
3. It also summarizes three circulars/notifications issued by the CBDT - reduction of TDS/TCS rates and extension of various compliance due dates in light of COVID-19; deferring new procedures for approval/registration
1) Vodafone Idea faces huge AGR dues of around Rs. 58,000 crore following a Supreme Court ruling on how adjusted gross revenue should be calculated.
2) With limited cash reserves of Rs. 12,000 crore and quarterly losses of over Rs. 50,000 crore, it is unclear how Vodafone Idea will pay the large AGR dues within the 10-year timeline given by the Supreme Court.
3) Analysts believe Vodafone Idea will need a significant tariff hike, government relief measures, and equity infusion to survive the crisis caused by the AGR ruling.
Indirect tax judicial precedents september 2016 (1)Ashish Chaudhary
The document provides a summary of recent indirect tax judicial precedents from September 2016. It discusses 12 cases from various High Courts and Tribunals. Key points from 3 cases include:
1) Service tax paid under mistaken belief cannot be retained by the government and a refund must be allowed.
2) Cenvat credit can be availed on the basis of an advisory note from head office as long as it is based on valid documents.
3) Advertisement expenditure incurred by dealers would not be included in the assessable value of the manufacturer in the absence of an enforceable legal right.
Dear Readers,
We are pleased to present ‘TransPrice Times’ for the first fortnight of May 2015, providing highlights on transfer pricing developments.
We aim to provide an insight into some contentious transfer pricing issues and also equip you with the information on latest happenings in India.
Trust you will find it useful.
Happy reading !!!
Please give your feedback on following link: info@transprice.in
The Supreme Court ruled that Vodafone was not liable to withhold Indian taxes on its offshore acquisition of shares in a Cayman Islands company that indirectly held assets in India. The Court held that Section 9(1)(i) of India's Income Tax Act does not apply to indirect transfers of Indian assets and only covers direct transfers. It also found that the transaction was for the transfer of shares, not assets, and that the corporate structure had a business purpose and was not set up to avoid taxes. The ruling ended a long-running controversy over taxation of offshore share deals involving Indian assets.
Here we are with the Thirty fifth successive issue of our monthly ‘Missive’.
We trust you will enjoy reading this Missive, even while soaking in the contents. We would very much appreciate your feedback which consistently helps us in improving and upgrading the contents.
Thanks and regards,
Knowledge Management Team
The document provides an index for MCQ questions from case studies issued by ICAI on various topics related to economic law, including competition law. It includes the following:
- An introduction and instructions on how to use the index, which directs the user to first find repeated case studies in a descriptive question index before referring to this MCQ index.
- A table with columns for the topic, question, and answer. Questions are sorted alphabetically and grouped by relevant law or chapter to help the user quickly find the answer to an MCQ.
- A caution that the answers are not updated for amendments to laws and the user should verify answers from source materials if unsure.
The document is the December 2013 issue of the monthly publication "Missive" from the Knowledge Management Team. It provides an index of topics covered in the issue, including Direct Tax, Transfer Pricing, Service Tax, and others. The main article summarizes several important tax court rulings on issues like TDS credit availability, interest liability for non-residents, capital gains tax rates for non-residents, and whether payments for ship charters constitute royalties. It also briefly summarizes other rulings related to transfer pricing documentation and the application of stamp duty valuation rules.
This document summarizes several transfer pricing cases from the TransPrice Times publication.
The first case discusses Vodafone Essar Digilink Ltd. where the ITAT rejected the use of a foreign comparable transaction to benchmark royalty payments. However, it also rejected the tax officer's argument of nil royalty.
The second case discusses Blue Scope Steel India Private Limited, where the ITAT accepted the taxpayer's argument that seconded employees were on its payroll, so salary reimbursements should be allowed.
The third case discusses Amphenol Interconnect India Private Ltd. where the High Court upheld the Tax Court's use of TNMM over CUP and rejected differences in sales commissions.
The last case
This document provides a summary of recent taxation updates in India covering direct and indirect tax laws. It discusses key issues from recent case laws pertaining to direct and indirect taxes. Some of the direct tax issues covered in the document include transactions involving bogus shares being treated as a colorable device, rejection of a writ petition where an alternate remedy was available, allowing a writ petition for violation of principles of natural justice, and organizing the Indian Premier League not being considered a dilution of fundamental charitable objects. The document also provides summaries of recent advance tax rulings and notifications.
TransPrice Times 1st - 15th August 2015Akshay KENKRE
Dear Readers,
We are pleased to present the first fortnight edition of TransPrice Times for August 2015.
The newsletter highlights important transfer pricing judgement that provides guidance on computation of capacity utilization adjustment and alerts including APA rollback scheme and MAP proceedings between India and US.
Trust you will find it useful.
Happy reading !!!
TransPrice Times - October & November 2017Akshay KENKRE
Dear Members,
We are pleased to present TransPrice Times for the month of October & November 2017.
This periodical covers key court rulings on the issues of entity level approach over transactional approach, treaty benefits, receivables from an associated enterprise, royalty & TDS provisions, and real income theory. Apart from this, recent news relating to India's stand on MAP and bilateral APA applications has been discussed in the periodical.
Thank You and Happy Reading!!
Pedal to the Court Understanding Your Rights after a Cycling Collision.pdfSunsetWestLegalGroup
The immediate step is an intelligent choice; don’t procrastinate. In the aftermath of the crash, taking care of yourself and taking quick steps can help you protect yourself from significant injuries. Make sure that you have collected the essential data and information.
1) The Delhi High Court ruled that the time limit of 90 days to file Form TRAN-1 to carry forward CENVAT credits from previous indirect tax regimes to GST was directory, not mandatory.
2) As the GST transition has not been smooth, what was reasonable in ideal circumstances could not be expected currently.
3) In the absence of a specific time limit in the GST Act, the court held that the 3 year limitation period under the Limitation Act would apply, allowing taxpayers until June 30, 2020 to file Form TRAN-1.
The document provides a summary of recent indirect tax judicial precedents from June 2016. Some key highlights include:
- The High Court struck down service tax audit rules and circulars as being ultra vires the Finance Act.
- In the absence of rules to identify the service element, no service tax can be levied on composite contracts involving land or immovable property.
- It is not compulsory under service tax law to claim unconditional exemptions. Exemptions do not need to be claimed.
- Incentives or volume discounts received from media owners are not consideration for services and not liable to service tax.
- Cenvat credit can be claimed even if the process carried out on
TransPrice Times 16th - 31st August 2017Akshay KENKRE
Dear Members,
We are pleased to present TransPrice Times for Second fortnight of the month of August 2017.
This periodical broadly covers important rulings, addressing different key issues pertaining to foreign exchange gain as operating revenue, transfer pricing adjustment on non-utilization of agreed services and determination of most appropriate methods in transfer pricing.
We would be happy to know your suggestions. You can write to us at akshaykenkre@transprice.in
Thank You and Happy Reading!!
Issue of marketing intangibles in India- Breath of Fresh AirAjit Kumar Jain
The document discusses a landmark Indian court ruling on the issue of transfer pricing adjustments made by tax authorities related to marketing intangibles. Specifically, the ruling addressed whether excessive advertising, marketing and promotional expenses incurred by Indian affiliates of multinational enterprises constituted an international transaction under Indian tax law. The court rejected arguments made by taxpayers and held that such expenses were international transactions. It also held that the transactional net margin method could be used to evaluate pricing when marketing and distribution functions are interrelated. The court provided clarity on several issues around marketing intangibles, but questions remain about applying its principles to licensed manufacturers.
INCOME TAX – INTERNATIONAL TAXATION
Tax Residency Certificate – DTAA Benefits
The Punjab and Haryana High Court, has held that Tax Residency Certificate issued by a foreign country can be considered valid for the purpose of claiming benefit under the Indo – Mauritius DTAA. The Court reversed the AAR Ruling and relied upon CBDT Circular No. 789 to the effect that certificate of residence issued by the Mauritius Authorities constitute sufficient evidence for residential status.
TransPrice Times 15th - 31st January 2016Sangesh Sase
Dear Readers,
We are pleased to present the second fortnightly TransPrice edition for the period 15th - 31st January 2016. The newsletter provides a round-up of key transfer pricing developments in India.
Further, the newsletter gives snapshot of the significant case laws pronounced and its implications and also provides information on the latest happenings in India.
We hope you find this newsletter both timely and useful, and we look forward to your feedback and suggestions to improve it further. You can write to us at akshaykenkre@transprice.in
Happy Reading!!!
TransPrice Times 15th - 31st January 2016Akshay KENKRE
Dear Readers,
We are pleased to present the second fortnightly TransPrice edition for the period 15th - 31st January 2016. The newsletter provides a round-up of key transfer pricing developments in India.
Further, the newsletter gives snapshot of the significant case laws pronounced and its implications and also provides information on the latest happenings in India.
We hope you find this newsletter both timely and useful, and we look forward to your feedback and suggestions to improve it further. You can write to us at akshaykenkre@transprice.in
Happy Reading!!!
1. The document summarizes key updates from the Tax Bulletin of June 2020 regarding direct tax matters in India.
2. It discusses two judicial cases - in the first case, the ITAT held that no disallowance under section 14A can be made if the assessee has not earned any tax-exempt income. In the second case, the ITAT allowed depreciation on the cost of a golf course by considering it as "plant and machinery".
3. It also summarizes three circulars/notifications issued by the CBDT - reduction of TDS/TCS rates and extension of various compliance due dates in light of COVID-19; deferring new procedures for approval/registration
1) Vodafone Idea faces huge AGR dues of around Rs. 58,000 crore following a Supreme Court ruling on how adjusted gross revenue should be calculated.
2) With limited cash reserves of Rs. 12,000 crore and quarterly losses of over Rs. 50,000 crore, it is unclear how Vodafone Idea will pay the large AGR dues within the 10-year timeline given by the Supreme Court.
3) Analysts believe Vodafone Idea will need a significant tariff hike, government relief measures, and equity infusion to survive the crisis caused by the AGR ruling.
Indirect tax judicial precedents september 2016 (1)Ashish Chaudhary
The document provides a summary of recent indirect tax judicial precedents from September 2016. It discusses 12 cases from various High Courts and Tribunals. Key points from 3 cases include:
1) Service tax paid under mistaken belief cannot be retained by the government and a refund must be allowed.
2) Cenvat credit can be availed on the basis of an advisory note from head office as long as it is based on valid documents.
3) Advertisement expenditure incurred by dealers would not be included in the assessable value of the manufacturer in the absence of an enforceable legal right.
Dear Readers,
We are pleased to present ‘TransPrice Times’ for the first fortnight of May 2015, providing highlights on transfer pricing developments.
We aim to provide an insight into some contentious transfer pricing issues and also equip you with the information on latest happenings in India.
Trust you will find it useful.
Happy reading !!!
Please give your feedback on following link: info@transprice.in
The Supreme Court ruled that Vodafone was not liable to withhold Indian taxes on its offshore acquisition of shares in a Cayman Islands company that indirectly held assets in India. The Court held that Section 9(1)(i) of India's Income Tax Act does not apply to indirect transfers of Indian assets and only covers direct transfers. It also found that the transaction was for the transfer of shares, not assets, and that the corporate structure had a business purpose and was not set up to avoid taxes. The ruling ended a long-running controversy over taxation of offshore share deals involving Indian assets.
Here we are with the Thirty fifth successive issue of our monthly ‘Missive’.
We trust you will enjoy reading this Missive, even while soaking in the contents. We would very much appreciate your feedback which consistently helps us in improving and upgrading the contents.
Thanks and regards,
Knowledge Management Team
The document provides an index for MCQ questions from case studies issued by ICAI on various topics related to economic law, including competition law. It includes the following:
- An introduction and instructions on how to use the index, which directs the user to first find repeated case studies in a descriptive question index before referring to this MCQ index.
- A table with columns for the topic, question, and answer. Questions are sorted alphabetically and grouped by relevant law or chapter to help the user quickly find the answer to an MCQ.
- A caution that the answers are not updated for amendments to laws and the user should verify answers from source materials if unsure.
The document is the December 2013 issue of the monthly publication "Missive" from the Knowledge Management Team. It provides an index of topics covered in the issue, including Direct Tax, Transfer Pricing, Service Tax, and others. The main article summarizes several important tax court rulings on issues like TDS credit availability, interest liability for non-residents, capital gains tax rates for non-residents, and whether payments for ship charters constitute royalties. It also briefly summarizes other rulings related to transfer pricing documentation and the application of stamp duty valuation rules.
This document summarizes several transfer pricing cases from the TransPrice Times publication.
The first case discusses Vodafone Essar Digilink Ltd. where the ITAT rejected the use of a foreign comparable transaction to benchmark royalty payments. However, it also rejected the tax officer's argument of nil royalty.
The second case discusses Blue Scope Steel India Private Limited, where the ITAT accepted the taxpayer's argument that seconded employees were on its payroll, so salary reimbursements should be allowed.
The third case discusses Amphenol Interconnect India Private Ltd. where the High Court upheld the Tax Court's use of TNMM over CUP and rejected differences in sales commissions.
The last case
This document provides a summary of recent taxation updates in India covering direct and indirect tax laws. It discusses key issues from recent case laws pertaining to direct and indirect taxes. Some of the direct tax issues covered in the document include transactions involving bogus shares being treated as a colorable device, rejection of a writ petition where an alternate remedy was available, allowing a writ petition for violation of principles of natural justice, and organizing the Indian Premier League not being considered a dilution of fundamental charitable objects. The document also provides summaries of recent advance tax rulings and notifications.
TransPrice Times 1st - 15th August 2015Akshay KENKRE
Dear Readers,
We are pleased to present the first fortnight edition of TransPrice Times for August 2015.
The newsletter highlights important transfer pricing judgement that provides guidance on computation of capacity utilization adjustment and alerts including APA rollback scheme and MAP proceedings between India and US.
Trust you will find it useful.
Happy reading !!!
TransPrice Times - October & November 2017Akshay KENKRE
Dear Members,
We are pleased to present TransPrice Times for the month of October & November 2017.
This periodical covers key court rulings on the issues of entity level approach over transactional approach, treaty benefits, receivables from an associated enterprise, royalty & TDS provisions, and real income theory. Apart from this, recent news relating to India's stand on MAP and bilateral APA applications has been discussed in the periodical.
Thank You and Happy Reading!!
Pedal to the Court Understanding Your Rights after a Cycling Collision.pdfSunsetWestLegalGroup
The immediate step is an intelligent choice; don’t procrastinate. In the aftermath of the crash, taking care of yourself and taking quick steps can help you protect yourself from significant injuries. Make sure that you have collected the essential data and information.
Receivership and liquidation Accounts
Being a Paper Presented at Business Recovery and Insolvency Practitioners Association of Nigeria (BRIPAN) on Friday, August 18, 2023.
Sangyun Lee, 'Why Korea's Merger Control Occasionally Fails: A Public Choice ...Sangyun Lee
Presentation slides for a session held on June 4, 2024, at Kyoto University. This presentation is based on the presenter’s recent paper, coauthored with Hwang Lee, Professor, Korea University, with the same title, published in the Journal of Business Administration & Law, Volume 34, No. 2 (April 2024). The paper, written in Korean, is available at <https://shorturl.at/GCWcI>.
Corporate Governance : Scope and Legal Frameworkdevaki57
CORPORATE GOVERNANCE
MEANING
Corporate Governance refers to the way in which companies are governed and to what purpose. It identifies who has power and accountability, and who makes decisions. It is, in essence, a toolkit that enables management and the board to deal more effectively with the challenges of running a company.
Genocide in International Criminal Law.pptxMasoudZamani13
Excited to share insights from my recent presentation on genocide! 💡 In light of ongoing debates, it's crucial to delve into the nuances of this grave crime.
Safeguarding Against Financial Crime: AML Compliance Regulations DemystifiedPROF. PAUL ALLIEU KAMARA
To ensure the integrity of financial systems and combat illicit financial activities, understanding AML (Anti-Money Laundering) compliance regulations is crucial for financial institutions and businesses. AML compliance regulations are designed to prevent money laundering and the financing of terrorist activities by imposing specific requirements on financial institutions, including customer due diligence, monitoring, and reporting of suspicious activities (GitHub Docs).
The Future of Criminal Defense Lawyer in India.pdfveteranlegal
https://veteranlegal.in/defense-lawyer-in-india/ | Criminal defense Lawyer in India has always been a vital aspect of the country's legal system. As defenders of justice, criminal Defense Lawyer play a critical role in ensuring that individuals accused of crimes receive a fair trial and that their constitutional rights are protected. As India evolves socially, economically, and technologically, the role and future of criminal Defense Lawyer are also undergoing significant changes. This comprehensive blog explores the current landscape, challenges, technological advancements, and prospects for criminal Defense Lawyer in India.
The Future of Criminal Defense Lawyer in India.pdf
Telecom.pptx
1. Union of India v. Assn. of
Unified Telecom Service
Providers of India
Supreme court’s interpretation of adjusted gross revenue
(AGR)
2. • In its ruling in Union of India v. Assn. of Unified Telecom Service Providers of India1 and
other connected matters (AGR case), a three-judge bench of the Supreme Court (SC) put an
end to a nearly two-decade-long dispute over the Department of Telecommunications,
Government of India's interpretation of adjusted gross revenue (AGR) (DoT).
• In its ruling in Union of India v. Assn. of Unified Telecom Service Providers of India and other
connected matters (AGR case), a three-judge bench of the Supreme Court (SC) put an end to
a nearly two-decade-long dispute over the Department of Telecommunications, Government
of India's interpretation of adjusted gross revenue (AGR) (DoT). Significantly, the SC has
maintained the Department of Transportation's view that AGR includes revenue generated by
licensees from both licenced and unlicensed operations, dealing a severe blow to a sector
that is already heavily in debt and in the midst of its worst period.
3. Table of Contents
Section A
01 Background
02
Section B
Litigation in the First Round
03
Section C
Second Round of Litigation
04
Section D
Analysis of the Present Judgment
05
Section E
Determination of AGR
& Computation of Interest and Pen
06
Section D
Conclusion.
5. This concept of AGR was finalised and implemented in 2001 and
demands for licence fees based on this definition were raised on TSPs.
Telecom service providers (TSPs) are required to pay a licence fee to DoT
Initially, DoT introduced a fixed licence fee regime, whereby a predefined
lump sum was required to be paid by TSPs.
Telecom licences (licences) were amended pursuant to the revenue-
sharing based regime.
According to the licences, AGR is determined by excluding certain
explicitly specified items from “gross revenue” (gross revenue).
A new revenue-sharing based regime under the New Telecom Policy, 1999
(NTP) was introduced.
7. A petition was filed
in
the Telecom Dispute
s Settlement and
Appellate Tribunal
(TDSAT) by an
industry association
of telecom licensees
or TSPs. In this
matter, the stand
taken by the
Government that
licence fee was
payable on overall
revenue of the TSP
(including revenue
realised on account
of non-
telecom activities
carried out by TSPs)
was challenged.
The Tdsat held
that licence fee
should only be
related to such
revenue which is
traceable to
activities under
the licence.
Subsequently, the
Telecom Regulatory
Authority of India
(TRAI) issued
recommendations
in this regard
along similar lines
and finally the
Tdsat too largely
agreed with the
recommendations
of the TRAI and
held that licence
fee should not be
payable in respect
of revenue earned
from non-licensed
activities.
Tdsat's order
was
challenged by
the
Government
before SC
the SC held
that the Tdsat
had no
jurisdiction to
decide on the
validity of
terms and
conditions of
the licence
8. Further, the SC held that if the wide definition of AGR included
revenue beyond the licensed activities, then it was open for the
licensees to not undertake activities for which they did not
require licence and transfer these activities to any other person or
firm or company. Accordingly, several TSPs hived-off divisions
that were carrying out non-telecom activities to mitigate the
impact of SC Judgment.
10. After SC Judgment
various TSPs filed
petitions in different fora
(i.e. High Court, TDSAT)
for correct interpretation
of the heads of gross
revenue mentioned in the
licence, which resulted in
a second round of
litigation.
The issue concerning the
definition of AGR was
again agitated before the
Tdsat, The Tdsat in its
ruling held that the term
“revenue” in the licence
was no different from its
corresponding definition
in the Accounting
Standard 9 (AS-9).
11. The High Court of
Tripura held that
definitions of gross
revenue and AGR under
the licence were ultra
vires to Section 4(1) of
the Telegraph Act, 1885,
as even non-licensed
activities were sought to
be included within the
embrace of gross revenue
as arbitrary.
The High Court of
Kerala, it was held that
as TSPs had entered into
licences with the
Government at their will
and had availed the
benefits of such licences,
it was now not open to
them to contend that levy
of licence fees was
arbitrary or beyond the
scope of the Telegraph
Act, 1885.
13. In its judgment, SC has
upheld the interpretation
of AGR which has been
adopted by DoT from the
inception. SC has based
its decision on a variety
of factors, but mainly on
the ground that the TSP's
obligation to pay license
fee in accordance with
the terms and conditions
of the license is nothing
but a contractual
obligation
SC has observed that the
government, while
implementing the
revenue-sharing regime,
consciously sought the
inclusion of a definition
of “revenue” which was
“broad, comprehensive
and inclusive” in the
“migration package”
14. SC also has noted that
the terms and conditions
of the migration
package, which also
contained a stipulation
that no dispute would be
raised by TSPs as to
working out of the
revenue share, was
voluntarily and
unconditionally accepted
by the TSPs at that stage
and led to substantial
growth of the sector in
subsequent years.
With respect to the
arguments advanced by
TSPs that the contra
proferentem rule would
be attracted in the
present circumstances as
the licence conditions
were drafted by DoT, SC
held that there was no
element of ambiguity in
the definition and
therefore the occasion
for applicability of this
rule does not arise.
15. The Court has also
indicated that this issue
had already been finally
determined in the SC
Judgment of UOI v
Assn. of Unified
Telecom service
providers of India and
thus attempts to reopen
the same were barred by
res judicata.
Based on the stipulations in
the license and referring to
the Government's intent to
include a broad,
comprehensive and
inclusive definition of
“revenue”, the Court has
held that the rule of
ejusdem generis should be
implemented while
construing the heads set out
in the definition of gross
revenue and therefore, it
would also include revenue
generated from activities of
TSPs beyond the license.
17. Included in AGR
Discounts
and
commissions
Gains from
foreign
exchange
fluctuations
Monetary
gains on
sales of
shares
Insurance
claim in
respect of
capital assets
Negative
balance of
prepaid
customer
Reimbursem
ent of
infrastructur
e operating
expenses
Waiver of
late fees
18. Included in AGR
Non-
refundable
deposits
Income from
interest and
dividend
Bad debts
written off
Interest from
inter-
corporate
loan
Revenue
under IP-1
registration
Income from
management
consultancy
services
19. Not Included in AGR
Gains from
roaming charges
and public
switched
telephone
network (PSTN)
pass through
charges
Licensee fee
demand where
spectrum is not
granted
Liability written
off
20. Computation of Interest and Penalty
• With respect to the question of quantum and computation of interest, SC has upheld the
claim of interest made by DoT, while relying on the provisions of the licences that lay
down the consequences for delay in payment of licence fees.
• on the question of penalty, SC has inter alia held that TSPs have deliberately acted in
an unfair manner by deferring payment of the disputed amount of licensee fees despite
SC Judgment in UOI v Assn. of Unified Telecom service providers of India and
therefore cannot contend that payment has been delayed on account of a bona fide
dispute.
• Consequently, the respondents are required to cumulatively pay within a period of three
months, an amount which, according to several news reports, is in excess of INR 900
billion or 90,000 crores.
22. • By this case the matter of AGR dues is finally settled but it will have far-reaching
ramifications as far as the sustainability of the sector is concerned. It must be borne
in mind that the telecom sector in India is perhaps witnessing its worst phase in
history and therefore, the SC's decision in the present case is expected to have an
amplified effect due to its timing.
• As a next course of action, TSPs could consider approaching the SC for a review of
its judgment in the AGR case, However, despite any potential relief which may be
obtained by TSPs in such proceedings, a case for governmental intervention is
becoming increasingly clear to ensure the sustainability of the
Indian telecom industry as a whole.
• While the Government is expending some efforts towards reviving
the telecom industry and it is also one of the main objectives enshrined under the
National Digital Communications Policy, 2018, suitable action is warranted on part
of the Government, especially in wake of this decision of the SC.
Editor's Notes
1. Table of contents
2. Our company
3. Our evolution
4. What sets us apart?
5. Guiding principles
6. Quote
7. Market share
8. Buyer persona profile
9. Buyer journey
10. Sales funnel
11. Competitor analysis
12. SWOT analysis
13. Goals
14. Strategy
15. Key action items
16. Timeline
17. Budget
18. KPI overview
19. Our team