INDIAN RULINGS ON POEM The Supreme Court in the case of Erin Estate Vs CIT [1958] 34 ITR 1(SC) (Against the assessee)considered following as relevant criteria: Purchase decisions. Employee engagement decisions. Capital investment decisions. Sales and marketing decisions Annual budget approval. The Delhi Tribunal decision in the case of Radha Rani Holdings Private Ltd [2007] 16 SOT 495 (DELHI).…
INTERNATIONAL PRACTICE Australian case De Beers consolidated Gold Mines (AC 455). I The company is registered in South Africa the shareholders‟ meetings were all in South Africa and Board meetings held in South Africa and the UK The directors meetings held in the UK were found to be those where the real control was exercised and…
RESIDENTIAL STATUS FOR COMPANIES-CHANGE IN DEFINITION Earlier Provisions under the Income tax Act (Sec 6) A Company is said to be resident in India if: It is an Indian Company, or During that year ,the control and management of its affairs is situated wholly in India Existing Provisions under the Income Tax Act (Sec…
Place of effective management” is defined in the Act to mean a place where key management and commercial decisions that are necessary for the conduct of the business of an entity as a whole are, in substance, made. Effective management – The words Effective Management refer to actual management and not just formal management…
Place of effective management” is defined in the Act to mean a place where key management and commercial decisions that are necessary for the conduct of the business of an entity as a whole are, in substance, made.
