Presentation By International Tax Judges On Controversial Tax Treaty Topics (4.6 MiB)
The notified GAAR strikes a fine balance between the need for foreign investment flows and the legitimate demands of the Indian exchequer. »
<> Innovative Housing Loan Products – Upfront Disbursal of Housing Loans – Primary (Urban) Co-operative Bank
September 16th, 2013
S. 32: Sale & lease transactions by banks are genuine and eligible for depreciation
<> The latest on the subject controversy , it is to be noted, once again bears on it sleeves that the distinction sought to be made between the two concepts of ‘finance lease’ and ‘operating lease’, drawing support /strength from the AS 19 holding a grip in the realm of book keeping i.e. ‘accounting’, cannot , according to a perceptive view, be sworn to be amenable to a profoundly objective view / conclusive opinion. To put it differently, it can only be expected to be a live controversy, or attempted to be kept so, so long/for the years for which the extant law holds good, hence requiring to be applied.
In the DTC pending enactment, going by one’s memory, in the name of simplification of the law, for respective applicability of the proposed provisions , the criterion is going to be whether the asset is classifiable as ‘investment asset’ or a ‘business trading asset’. On a tentative reading thereof -(not an in-depth study), there seems to be no reasonable ground, much less a certainty, for anyone to believe that such types of controversies as referred above, would remain eliminated if and when that comes to be enacted and takes effect. Also, it is anybody’s guess, perhaps a gamble to predict, what is really in store, from the viewpoint of taxpayers, in terms of disputes and litigation, – for the better or worse, in comparison to the present scenario.