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“Section 71(4)”

Section References (mined)Section 71Section 71(4)4 judgments

OHM JUNIPER LONGTERM FUND LIMITED,MAURITIUS vs. DCIT INTL. TAXATION -2(2)(2), NEW DELHI

ITA 2722/DEL/2023[2018-19]Status: DisposedITAT Delhi22 Oct 2024AY 2018-19

Bench: Shri Saktijit Dey, Hon’Ble & Shri M. Balaganeshm/S. Ohm Juniper Longterm Vs. Dcit, Fund Ltd, International Taxation- 5Th Floor, Ebene Esplanade, 2(22)(2), 24 Cybercity, Ebene, New Delhi Mauritius (Appellant) (Respondent) Pan:Aacco2383D

For Appellant: Shri Kanchan Kaushal, AdvFor Respondent: Shri Vizay B. Vasanta, CIT DR
Section 234BSection 234CSection 90(2)

assesse without actual business operations or adequate substance in Mauritius and it does not fulfill the requirement of management control as per section 71(4) of the Financial Service Act 2007. E. The appellant does not have any Mauritius resident full time Director working for the company (Directors of assessee

NORWEST VENTURE PARTNERS X - MAURITIUS,MAURITIUS vs. DCIT CIRCLE INTL. TAXATION 2(2)(2), NEW DELHI

ITA 2311/DEL/2023[2020-21]Status: DisposedITAT Delhi19 Mar 2024AY 2020-21

Bench: Shri Saktijit Dey & Shri Pradip Kumar Kedia[Assessment Year: 2020-21]

Section 143(3)Section 144C(13)Section 71(4)

business operations or adequate substance in Mauritius. • Not fulfilling the requirement of Management and Control for Category 1 Global Business entities as per Section 71(4) of the Financial Services Act 2007 as it reported in /TR that 100% beneficially owned by persons who are not Resident of Mauritius

LEAPFROG FINANCIAL INCLUSION INDIA (II) LTD,MAURITIUS vs. ACIT, CIRCLE 2(2)(1), INTERNATIONAL TAXATION, NEW DELHI

ITA 366/DEL/2023[2020-21]Status: DisposedITAT Delhi11 Aug 2023AY 2020-21

Bench: Sh. G. S. Pannu & Sh. Saktijit Dey, Vice-Ita Nos.365 & 366/Del/2023 (Assessment Years : 2019-20 & 2020-21) & Stay Application No.85/Del/2023 (Assessment Year : 2020-21) Leapfrog Financial Vs. Acit Inclusion India (Ii) Ltd., Circle – 2(2)(1) 2Nd Floor, C/O Axis New Delhi Fiduciary Ltd., The Axis 26 Cybercity, Ebene, Mauritius - 72201 Pan No. Aaccl 8541 Q (Appellant) (Respondent) Assessee By Shri Deepak Chopra, Adv. Shri Anmol Anand, Adv. Ms. Priya Tandon, Adv. Revenue By Shri Vizay B. Vasanta, Cit-D.R. Date Of Hearing: 15.05.2023 Date Of Pronouncement: 11.08.2023

Section 143(3)Section 144C(13)

operations or adequate substance in Mauritius 2. Not fulfilling the requirement of Management and Control for Category 1 Global Business entities as per Section 71(4) of the Financial Services Act 2007as it reported in ITR that more than 10% beneficially owned by persons who are not Resident of Mauritius

LEAPFROG FINANCIAL INCLUSION INDIA (II) LTD,MAURITIUS vs. ACIT, CIRCLE 2(2)(1), INTERNATIONAL TAXATION, NEW DELHI

ITA 365/DEL/2023[2019-2]Status: DisposedITAT Delhi11 Aug 2023

Bench: Sh. G. S. Pannu & Sh. Saktijit Dey, Vice-Ita Nos.365 & 366/Del/2023 (Assessment Years : 2019-20 & 2020-21) & Stay Application No.85/Del/2023 (Assessment Year : 2020-21) Leapfrog Financial Vs. Acit Inclusion India (Ii) Ltd., Circle – 2(2)(1) 2Nd Floor, C/O Axis New Delhi Fiduciary Ltd., The Axis 26 Cybercity, Ebene, Mauritius - 72201 Pan No. Aaccl 8541 Q (Appellant) (Respondent) Assessee By Shri Deepak Chopra, Adv. Shri Anmol Anand, Adv. Ms. Priya Tandon, Adv. Revenue By Shri Vizay B. Vasanta, Cit-D.R. Date Of Hearing: 15.05.2023 Date Of Pronouncement: 11.08.2023

Section 143(3)Section 144C(13)

operations or adequate substance in Mauritius 2. Not fulfilling the requirement of Management and Control for Category 1 Global Business entities as per Section 71(4) of the Financial Services Act 2007as it reported in ITR that more than 10% beneficially owned by persons who are not Resident of Mauritius