Direct Tax
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direct_tax
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/expertise/direct-tax
Shaily Gupta
Shaily Gupta is a Partner in the Direct Tax practice group. She is a Chartered Accountant and lawyer with over 16 years experience advising multinational corporations, private equity funds, financial institutions, promoter groups, high-net-worth individuals and family offices on a broad spectrum of domestic and international tax matters.
Attribution of Profits to a PE to be Based on Independent Entity Approach, Irrespective of Losses Incurred at Entity Level – Full Bench of the Delhi High Court
In Hyatt International Southwest Asia Ltd Vs Additional Director of Income Tax (2024 SCC OnLine Del 6546), a Full Bench of the Delhi High Court held that a Permanent Establishment (PE) is to be treated as an independent taxable entity under Article 7 of the India-UAE Double Taxation Avoidance Agreement (Tax Treaty) and that attribution of profits to a PE based on the entity’s global income is unmerited and misconceived.
Direct Tax Disputes Resolution Scheme 2.0 made Effective
Currently, there is high pendency of tax cases before various appellate fora. In the year 2020, the Government introduced a direct tax disputes resolution scheme through the Direct Tax Vivad Se Vishwas Act, 2020 (popularly known as the ‘Vivad Se Vishwas scheme’].
US Limited Liability Company is Eligible to Claim India-US Tax Treaty benefit – Delhi ITAT
In the case of General Motors Company USA v Assistant Commissioner of Income Tax – Circle (International Taxation), 2024 166 taxmann.com 170 the Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that a Limited Liability Company (LLC) incorporated in USA is eligible to claim the benefits of the India-US Tax Treaty (Tax Treaty).
Delhi High Court Reiterates Importance of Tax Residency Certificate Issued by Mauritius Tax Authorities to Claim Benefits under India-Mauritius DTAA
The Delhi High Court (HC) in Tiger Global III Holdings v Authority for Advance Rulings, 2024 SCC OnLine Del 5987 overturned the decision of the Authority for Advance Ruling (AAR) where AAR had taken a view that the transaction of sale of shares of Flipkart Private Limited, a Singapore entity (Flipkart) to Walmart International Holdings, Inc. constituted a prima-facie tax avoida
Rahul Jain
Rahul is a Partner in the Direct Tax Practice Group in the Firm’s Mumbai office. He has over a decade of experience in advising clients on domestic and international tax matters.
Rahul specializes in advising and assisting clients on M&A transactions involving share deals both India focused as well as global deals involving India leg, business and asset transfer, structuring of inbound and outbound investments, SPAC structures, flip and reverse flip structures.