Latest Blogs from SBS and Company LLP

    SBS Wiki E Journal Feb 2024

    In this edition, we have come up with an article on recent judgement of the Hon’ble NCLAT New Delhi, wherein the matter as to whether a “Inter Corporate Deposit” by a party to another as part of the Joint Venture Agreement , constitutes a “Financial Debt”. This is a important judgement, reaffirming the settled position in law, and will have a lot of bearing on the rights of the parties who enter in to Joint Venture Agreements.

    The next article is on the receipt of information from under the exchange of information agreements and consequences under the Indian Evidence Act, 1872. The article deals with requirements under the Indian Evidence Act, 1872 to allow the information from the foreign jurisdictions in respect of various taxpayers in India for the purpose of collection and recovery of taxes.

    We have also collated certain important judgments under direct tax and provided our comments wherever necessary.

    Key Topics:

    • IS GRANT OF “INTER-CORPORATE DEPOSIT” IN A JOINT VENTURE CONSTRUED AS 'FINANCIAL DEBT' UNDER IBC
    • Information received from foreign jurisdictions vis-à-vis the Indian
    • Direct Tax Case Laws
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    SBS Wiki E Journal Jan 2024

    Wishing all of you a very Happy and Prosperous and Knowledge gaining New year, 2024, from SBS. Only the calendar has changed, but the zeal, effort and passion at SBS, to share knowledge continues to withstand all odds.

    In this edition, we have come up with an article on recent judgement of the Hon’ble Apex Court in Shakti Yezdani & Another vs. Jayanand Jayant Salgaonkar & others, deciding whether a Nominee of Securities under Section 109A, is its Real Owner, or is he only a custodian, and whether the Section 109A is a third mode of succession that the scheme of the Companies Act, 1956, (pari-materia provisions in Companies Act, 2013), and Depositories Act, 1996 aims or intends to provide.

    The next article is on the concept of permanent establishment. Article 5 of the DTAA deals with the concept of permanent establishment. In this Article, how a person can avoid the permanent establishment in the country of source and OECD/G20 measures to curb such practices have been discussed.

    We have also collated certain important judgments under direct tax and provided our comments wherever necessary.

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    SBS Wiki E Journal Nov 2023

    In this edition, we have come up with an article on the recently notified provision as to applicability of dematerialization of securities to private limited companies, other than a Small Company. Till now Private Limited Companies were outside the ambit of dematerialization, and if required they on a voluntary basis could get their shares dematerialized. Whereas with amendment to the Companies Prospectus and Allotment Rules, dematerialization of securities is made applilcable to a private limited companies, other than a Small Company. The provisions relating to the amendment, and the process involved and the Point of view for the amendment, forms part of the discussion in the Article.

    The next article is on the determination of time limit for passing the assessment order when the case has been referred to transfer pricing officer. When two different sections i.e., section 153 and section 144C deals with the time limit for completion of assessment, there is a room for ambiguity. In this article, interplay between section 153 and section 144C has been discussed.

    Lastly, we have also collated certain important judgments under Direct tax and provided our comments wherever necessary.

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    SBS Wiki E Journal Oct 2023

    Key Topics:

    COMPANIES ACT

    • IMPLICATIONS OF SECTION 185 IN A RELATED PARTY TRANSACTION

    INSOLVENCY AND BANKRUPTCY CODE

    • ADJUDICATION OF DISPUTES SURROUNDING CLAIMS

    INTERNATIONAL TAXATION

    • INTERPRETATION OF TAX TREATIES – A STUDY ON ARTICLE 31, 32 AND 33 OF VIENNA CONVENTION ON THE LAW OF TREATIES

    SUMMARY OF INCOME TAX DECISION

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