tag:blogger.com,1999:blog-3202774368551476669.post4133512405775675576..comments2023-09-15T16:21:31.980+05:30Comments on INDIAN CORPORATE LAW: MCA Clarifies on Status of Private Subsidiary of a Foreign CompanyUmakanth Varottilhttp://www.blogger.com/profile/12438677982004444359noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-3202774368551476669.post-59608028012566309702014-06-27T15:44:39.297+05:302014-06-27T15:44:39.297+05:30Tentative (subject to further study) :
On a readin... Tentative (subject to further study) :<br />On a reading of the discussion herein , one feels that the tax case in re. Daimler Chrysler India (P) Ltd. v Dy. CIT, ITAT (Pune) may make for a useful comparative study. For a discussion /critique of the ITAT (Pune) Order, may be looked up 181 Taxman Pg 10 (Mag). In that case the issue raised under Section 79 of IT Act turned on the relationship of a foreign company and its Indian subsidiary wprt the definition section 2 (18) of IT Act read with the company law definition. <br />Tentative reaction is, the discussed MCA clarification under the new company law is prima facie not readily compatible with the view of the ITAT taken after considering the Indo-German DTAA. Further developments in that case , so also the judicial view in like later cases , need to be looked into, for having one's own thoughts clarified or enriched.vswaminoreply@blogger.com