“scheme of arrangement”

Accion Africa-Asia Investment Company, Noida vs. ACIT International Taxation Circle 1(1)(1), New Delhi

In the result, the appeal is allowed, as indicated above

Bench: Shri Saktijit Dey, Vice- & Dr. B.R.R. Kumarassessment Year: 2020-21 . Accion Africa-Asia Vs. Acit, Investment Company, International Taxation, C/O- Ankul Goyal, Advocate Circle-1(1)(1), Azb & Partners, A-8, Sector-4, New Delhi Noida Pan :Aajca1104H (Appellant) (Respondent)

availing exemption under Article 13(4) of the India – Mauritius tax treaty. He observed, since, the assessee has been set up through a scheme of arrangement to avoid taxes adopting colourable device, the scheme has to be regarded as impermissible tax avoidance arrangement. Therefore, the assessee will not be entitled

DCIT, Central Circle, Ghaziabad vs. Amrit Banaspati Company Ltd., Noida

In the result the appeal of the Revenue in ITA No

Bench: Shri N.K. Billaiya & Shri Anubhav Sharma

Special Auditors in its report dated 31.05.2010: "4.2 Consequently, as such transfer of "Edible Oil Brands" have been by virtue of the demerger scheme of arrangement and the same should have been transferred at NIL value to the resulting company, so the depreciation ... brands by the assessee- company, as elaborated hereunder: Your honour's kind attention in this regard is invited to Para- IV of the Scheme of Arrangement. On perusal of the same, your honour will kindly notice that that the Scheme of Arrangement involved two separate and independent transactions involving reorganization

The Golden State Capital Pte Ltd, Singapore vs. DCIT Circle 3(1)(1), International Taxation, Delhi

Bench: Shri Kul Bharat & Shri M. Balaganeshthe Golden State Capital Pte Ltd, Vs. Dcit, 31, Tanglin Road, #03,-04, St. Circle-3(1)(1), Regis Residences, Singapore, International Taxation, Singapore, Singapore, 247912 Delhi (Appellant) (Respondent) Pan: Aagct8026Q Assessee By : Shri Deepak Chopra, Adv Shri Anmol, Adv Shri Priya, Adv Revenue By: Shri Vizay B. Vasanta, Cit Dr Date Of Hearing 31/05/2023 Date Of Pronouncement 23/08/2023

deny the treaty benefits to the Assessee could be summarized as under:- The Golden State Capital Pte Ltd i. The scheme of arrangement employed by the Assessee is one of tax avoidance through treaty shopping mechanism. This observation is made in the context that the Assessee‟s holding company ... Revenue authorities in Singapore for last three years. 10. With regard to the observation made by the ld AO that a complex scheme of arrangement has been crafted and executed to utilize the tax advantages provided in India-Singapore DTAA, the assessee submitted a crucial fact of settlement agreement entered

Saif 2-Se Investments Mauritius Ltd, New Delhi vs. ACIT, Circle International Taxation (3)(1)(2) Delhi, New Delhi

Bench: Shri G.S. Pannu & Shri Saktijit Deyassessment Year: 2018-19

Island. Thus, he held that the assessee company has no commercial substance and has been set up as a conduit company under a scheme of arrangement to 4 | P a g e AY: 2018-19 get tax advantage under India – Mauritius tax treaty. Thereafter, referring to OECD Commentary and various ... judicial precedents, the Assessing Officer ultimately held as under:- i. The scheme of arrangement employed by the assessee is for tax avoidance through treaty shopping mechanism. ii. The assessee is just a conduit and the real owners of the income are ultimate holding companies based in Cayman Island

Sarva Capital Llc, New Delhi vs. ACIT, Circle-3(1)(2), International Taxation, New Delhi

In the result, appeal is partly allowed

Bench: Shri G.S. Pannu & Shri Saktijit Dey, Vice-Assessment Year: 2019-20 Sarva Capital Llc, Versus Acit, Circle 3(1)(2), C/O Dinesh Mehta & Co., Cas, International Taxation, 21, Dayanand Road, Darya Ganj, New Delhi. New Delhi Pan: Aaccl0102B (Appellant) (Respondent) Assessee By : Sh. Hiren Mehta, Ca & Sh. Nirbhay Mehta, Adv. Revenue By : Sh. Vizay B. Vasanta, Cit(Dr)

DTAA. While doing so, he ultimately concluded that the assessee is not entitled for Treaty benefits due to the following reasons : “1. The scheme of arrangement employed by the assessee is a tax avoidance through treaty shopping mechanism. 2. The assessee company is just a conduit and the real owner ... holding valid TRC. However, the Assessing Officer has declined to grant Treaty benefits to the assessee for the following reasons : (i) That the scheme of arrangement employed by the assessee is tax avoidance through treaty shopping mechanism; (ii). that the assessee is set up as a conduit company

Cambridge Construction (Delhi) Ltd, New Delhi vs. Itoi, Ward-5(3), New Delhi

In the result the appeal of the assessee in ITA No

Bench: Shri N.K. Billaiya & Shri Anubhav Sharma

Property Division of M/s Nourish Organic Foods Pvt Ltd [NOFPL], transferor company, merged with the assessee company w.e.f. 01.04.2011. 4. As per the scheme of arrangements, line by line transfer of assets, liabilities and reserve of transferor company relating to the property division merged with the resultant company, the assessee