In this edition, we have come up with an article on recent judgement of the Hon’ble Apex Court, in the matter of DBS Bank Ltd Singapore v. Ruchi Soya Industries Ltd and another, wherein the 2 member bench, referred the matter to a larger bench, as to whether Section 30(2)(b)(ii) of the Insolvency and Bankruptcy Code, 2016, as amended in 2019, entitles the dissenting financial creditor to be paid the minimum value of its security interest?, as the view and ratio of the bench in the instant case, was different from the decision of a coordinate bench, in India Resurgence ARC Private Limited case.
The next article is on the tax sparing credit in the Double Taxation Avoidance Agreement. Various countries have entered into DTAA in order to eliminate potential double taxation. In certain circumstances, CoS may provide tax incentives to foreign companies in order to attract foreign investors. In order to pass on such tax incentives to foreign companies in true sense, tax sparing credit has been incorporated into the DTAA. In this Article, the concept of tax sparing credit has been discussed.
We have also collated certain important judgments under direct tax and provided our comments wherever necessary.
Key Topics:
- Is a Dissenting Financial Creditor Eligible to minimum value of its security interest?
- Information received from foreign jurisdictions vis-à-vis the Indian
- Direct Tax Case Laws
