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Documents citing Director Of Income Tax vs New Skies Satellite Bv on 8 February, 2016

Cairn Uk Holding Ltd., Ahmedabad vs Dcit (International Taxation), New ... on 9 March, 2017

31. During the course of hearing Ld. counsel further referred to the additional ground raised vide ground No. 3.12 contesting that Ld. assessing officer has erred in taxing the appellant by invoking the retrospective amendment to section 9 (1) (i) of the act introduced by The Finance Act, 2012, which was not on the statute, when the India and United Kingdom tax treaty entered into force. Therefore it was submitted that the taxability of the appellant should have been determined under the provisions of section 9 (1) (i) of the act, which were applicable when the India United Kingdom tax treaty was entered into force. For this, the Ld. authorized representative took us to the article 14 related to capital gains of Double Taxation Avoidance Agreement entered into between India and United Kingdom wherein it is provided that each contracting state may tax capital gains in accordance with the provisions of its domestic law. He therefore submitted that the Double Taxation Avoidance Agreement between India and United Kingdom entered into on 11th. February 1994 and therefore, the law of chargeability of capital gain under domestic tax Cairn U K Holdings Limited V DCIT ( International Taxation) New Delhi ITA No 1669/Del/2016 A Y 2007-08 P a g e | 119 law is required to be looked into as it was prevailing on that date and not incorporating the retrospective amendment thereto. In short his arguments was that for the purposes of determining capital gain tax on this transaction retrospective amendment made should not eb considered. For this he relied upon the decision of the Hon'ble Delhi High Court in case of Director of Income Tax versus New Skies Satellite BV (2016) 68 Taxmann.com 8 (Delhi). He further vehemently contested that the design internal reorganization of Indian operation of the Cairn group and there can be no tax which can be levied on the internal reorganization where there is no increase in the wealth of the appellant.
Income Tax Appellate Tribunal - Delhi Cites 141 - Cited by 5 - Full Document

The Commissioner Of Income Tax - ... vs Telstra Singapore Pte Ltd. on 24 July, 2024

For the above reasons, it is held that the interpretation advanced by the Revenue cannot be accepted. The question of law framed is accordingly answered against the Revenue. The appeals fail and are dismissed, without any order as to costs.' Therefore, in fact, the reliance of New Skies Satellite BV (supra) by the learned Departmental representative is favouring the assessee's case and the issue involved before us is squarely covered by the judgment of Infra Soft Pvt. Ltd. as well as New Skies Satellite BV (Shine Satellite)."
Delhi High Court Cites 118 - Cited by 0 - Y Varma - Full Document

The Commissioner Of Income Tax - ... vs Telstra Singapore Pte Ltd. on 24 July, 2024

For the above reasons, it is held that the interpretation advanced by the Revenue cannot be accepted. The question of law framed is accordingly answered against the Revenue. The appeals fail and are dismissed, without any order as to costs.' Therefore, in fact, the reliance of New Skies Satellite BV (supra) by the learned Departmental representative is favouring the assessee's case and the issue involved before us is squarely covered by the judgment of Infra Soft Pvt. Ltd. as well as New Skies Satellite BV (Shine Satellite)."
Delhi High Court Cites 118 - Cited by 0 - Y Varma - Full Document

The Commissioner Of Income Tax - ... vs Telstra Singapore Pte Ltd. on 24 July, 2024

For the above reasons, it is held that the interpretation advanced by the Revenue cannot be accepted. The question of law framed is accordingly answered against the Revenue. The appeals fail and are dismissed, without any order as to costs.' Therefore, in fact, the reliance of New Skies Satellite BV (supra) by the learned Departmental representative is favouring the assessee's case and the issue involved before us is squarely covered by the judgment of Infra Soft Pvt. Ltd. as well as New Skies Satellite BV (Shine Satellite)."
Delhi High Court Cites 118 - Cited by 0 - Y Varma - Full Document

The Commissioner Of Income Tax - ... vs Telstra Singapore Pte Ltd. on 24 July, 2024

For the above reasons, it is held that the interpretation advanced by the Revenue cannot be accepted. The question of law framed is accordingly answered against the Revenue. The appeals fail and are dismissed, without any order as to costs.' Therefore, in fact, the reliance of New Skies Satellite BV (supra) by the learned Departmental representative is favouring the assessee's case and the issue involved before us is squarely covered by the judgment of Infra Soft Pvt. Ltd. as well as New Skies Satellite BV (Shine Satellite)."
Delhi High Court Cites 118 - Cited by 0 - Y Varma - Full Document

The Commissioner Of Income Tax - ... vs Telstra Singapore Pte Ltd. on 24 July, 2024

For the above reasons, it is held that the interpretation advanced by the Revenue cannot be accepted. The question of law framed is accordingly answered against the Revenue. The appeals fail and are dismissed, without any order as to costs.' Therefore, in fact, the reliance of New Skies Satellite BV (supra) by the learned Departmental representative is favouring the assessee's case and the issue involved before us is squarely covered by the judgment of Infra Soft Pvt. Ltd. as well as New Skies Satellite BV (Shine Satellite)."
Delhi High Court Cites 118 - Cited by 0 - Y Varma - Full Document

The Commissioner Of Income Tax - ... vs Telstra Singapore Pte Ltd. on 24 July, 2024

For the above reasons, it is held that the interpretation advanced by the Revenue cannot be accepted. The question of law framed is accordingly answered against the Revenue. The appeals fail and are dismissed, without any order as to costs.' Therefore, in fact, the reliance of New Skies Satellite BV (supra) by the learned Departmental representative is favouring the assessee's case and the issue involved before us is squarely covered by the judgment of Infra Soft Pvt. Ltd. as well as New Skies Satellite BV (Shine Satellite)."
Delhi High Court Cites 118 - Cited by 0 - Y Varma - Full Document

The Commissioner Of Income Tax - ... vs Telstra Singapore Pte Ltd. on 24 July, 2024

For the above reasons, it is held that the interpretation advanced by the Revenue cannot be accepted. The question of law framed is accordingly answered against the Revenue. The appeals fail and are dismissed, without any order as to costs.' Therefore, in fact, the reliance of New Skies Satellite BV (supra) by the learned Departmental representative is favouring the assessee's case and the issue involved before us is squarely covered by the judgment of Infra Soft Pvt. Ltd. as well as New Skies Satellite BV (Shine Satellite)."
Delhi High Court Cites 118 - Cited by 0 - Y Varma - Full Document
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