Issues in Corporate Taxation. - jb nagar cpe study circle of wirc of icai

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Facts & Background • D.B. Zwirn Mauritius Trading No. 2 Ltd. (“the assessee”) is a company incorporated in and holding tax residency certificate of Mauritius • The assessee held 61,33,333 equity shares of Quippo Telecom Infrastructure Limited, an Indian company which were acquired in September 2007 for a consideration of Rs. 2,453.33 lacs • In November 2009, the assessee entered into a share purchase agreement to sell these shares to Geraldton Finance Limited, another Mauritius based company for consideration of Rs. 6,439.99 lacs August, 2011 CA Sanjeev Lalan, Singrodia Goyal & Co. Presentation at JB Nagar CPE Study Circle 30
Issues before the Tribunal • Whether by virtue of being a Mauritius resident, the assessee is eligible to the benefits of the India-Mauritius DTAA and hence not subject to tax in India on the capital gains realized? • Whether there is any withholding tax liability under section 195 of the Act? August, 2011 CA Sanjeev Lalan, Singrodia Goyal & Co. Presentation at JB Nagar CPE Study Circle 31
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Page 35 and 36: Questions ?? August, 2011 CA Sanjee

Issues in Corporate Taxation. - jb nagar cpe study circle of wirc of icai

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