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1 - 10 of 12 (0.40 seconds)Article 13 in Constitution of India [Constitution]
Article 30 in Constitution of India [Constitution]
Article 27 in Constitution of India [Constitution]
Section 197 in The Income Tax Act, 1961 [Entire Act]
The Companies (Amendment) Act, 2001
Section 72 in The Income Tax Act, 1961 [Entire Act]
Section 195 in The Income Tax Act, 1961 [Entire Act]
Burmah Shell Oil Storage & Distributing ... vs C.I.T on 6 April, 1994
015. He further referred to the decision of the Hon'ble Bombay HC in MOIL India
Ltd. v. CIT (2017) vs. CIT (2017) 396 ITR 244 (Bom.) and specifically referred
to Para no.5 to support his case. He submitted that in the present case, the
explanation of the assessee was so elaborate and detailed that the learned
Assessing Officer is not expected to raise further queries as he satisfied about
the exemption based on the material and information supplied. Thus, the order
of the learned Assessing Officer is not erroneous. He therefore submitted that
that the order of the learned CIT revising the order of the learned Assessing
Officer is not sustainable in law
Bid Services Division (Mauritius) ... vs Authority For Advance Ruling (Income ... on 8 March, 2023
017. The learned Authorized Representative to support his contention further relied
upon the decision of the Hon'ble Bombay High Court in case of bid services
division Mauritius Limited Vs. Authority for Advance ruling dated 8th
December, 2023 (2023) 148 taxmann.com 215 (Bom), wherein it is
categorically held that wherein assessee being Mauritius company sold its
shares and claimed the same as exempt in view of Article 13(4) and Article 27A
of Double Taxation Avoidance Agreement which are applicable with effect
from 1st April, 2017, does not apply where the investment as well as sale was
made prior to 1st April, 2017 and the capital gain earned by the assessee could
not taxable in India. He submitted that though in that case, the sale was also
prior to 1st April, 2017, and acquisition also but the grandfathering provisions
will apply if shares are acquired prior to 1st April, 2017, even if this will sold
after 1st April, 2017. It was further stated that the issue is thus squarely covered
in favour of the assessee even otherwise.